On March 28, the presentation of the Macroeconomic Policy Department and the IMF experts was introduced at the Ministry of Finance, with the aim of presenting the preliminary results of the two-year cooperation program with the International Monetary Fund (IMF) and the RA Ministry of Finance. In particular, it was presented a preliminary version of the DSGE (Dynamic Stochastic General Equilibrium) model designed for the analysis of fiscal policy, emphasizing the necessity and importance of introducing the toolkit in the policy making process. During the presentation, they also discussed scenarios related to fiscal policy, tax reform and public debt, as well as further steps for two-year cooperation.
Deputy Finance Minister Armen Hayrapetyan, expert of the IMF Institute for Capacity Development Felipe Zanna and Head of Macroeconomic Policy Department Eduard Hakobyan highlighted the importance and value of the cooperation in their opening remarks, emphasizing its role in the RA Government’s agenda on fiscal reforms.
It should be reminded that in 2018, the RA Ministry of Finance launched a two-year cooperation program with the International Monetary Fund (IMF) in the field of macroeconomic policy, aimed at elaborating and introducing a toolkit for evaluating the comprehensive impacts of fiscal policy on Armenia's economy.