Ms. Claudia H Dziobek, Mr. Alberto F Jimenez de Lucio, and Mr. James A Chan
This note addresses the following main issues: • Statistical definitions of government (Government Finance Statistics Manual 2001) • Institutional structure of government and public sector • What is a precise definition of government and why it is relevant • Potential pitfalls of lacking a precise definition of government • Definitions of government in IMF-supported programs • Applications for fiscal rules and other fiscal policy design
Armenia showed strong economic performance owing to its prudent macroeconomic policies and structural reforms, under the Poverty Reduction Growth Facility (PRGF) Arrangement. Executive Directors welcomed this development, and stressed the need to strengthen the tax system, structural reform agenda, and implement an effective anticorruption strategy. They emphasized the need to improve monetary stance, the legal financial sector framework, and banking supervision. They agreed that Armenia has successfully completed the fourth review under the PRGF program, and approved waiver.
This report on the Observance of Standards and Codes provides a review of Armenia’s data dissemination practices against the IMF’s General Data Dissemination System (GDDS), complemented by an assessment of the quality of the national accounts, government finance, monetary, and balance-of-payments statistics. The report includes an overview of the GDDS and an assessment of Armenia’s data dissemination practices against the Standard, and presents a summary assessment of the quality of the principal macroeconomic datasets. The coverage, periodicity, and timeliness for macroeconomic data in Armenia are also summarized.