Country Report Armenia August 2009

Publication Date	August 2009
Publisher	EIU
Product Type	Report
Pages	31
ISBN Number	not applicable
Product Code	EIU00382

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Summary

You may have noticed that since the second quarter of this year, some additional content has started to appear in your monthly and quarterly CRs. We are now including a country map, and a range of basic data (selected to be useful for business travellers in particular), in every country report. For most countries, except a few where data is in very short supply, we are also including comparative economic indicators that show each country's position relative to regional peers, in easy-to-read graphical format.

In addition, for 176 countries, the Country Reports will now include an annual analysis of each country's position in the Economist Intelligence Unit's Democracy Index, which ranks countries in terms of their level of democracy, based on five key categories. These analyses were published in the second quarter of this year (in the April country reports for countries covered on a monthly basis, and in the second-quarter reports for those covered on a quarterly basis). Furthermore, as a new feature for more than 150 countries, an analysis of each country's ranking in our unique Quality of Life index will be published on an annual basis starting in the fourth quarter of 2009.

Some of this content has been migrated over to the Country Reports from another product, the Country Profile, which has now been discontinued. The difficult decision to close the Country Profile reflected limited client demand for this service as well as our view that much of the content included in this report is now available for free elsewhere. We would appreciate any feedback that you have on the migration of content from the Country Profiles to the Country Reports.

This report covers the following industry codes:
SIC Code: 53;59;49;2834;80;60;37;48;10
NAICS Code: 44;22;3254;62;52;336;517;212;11

Content

Important changes to Country Reports
Summary
Basic data
Political structure
Economic structure: Annual indicators
Economic structure: Quarterly indicators
Economic structure: Comparative economic indicators
Outlook for 2009-10: Domestic politics
Outlook for 2009-10: International relations
Outlook for 2009-10: Policy trends
Outlook for 2009-10: Fiscal policy
Outlook for 2009-10: Monetary policy
Outlook for 2009-10: International assumptions
Outlook for 2009-10: Economic growth
Outlook for 2009-10: Inflation
Outlook for 2009-10: Exchange rates
Outlook for 2009-10: External sector
Outlook for 2009-10: Forecast summary
The political scene: Mr Sarkisian's grip on power tightens
The political scene: Electoral procedures are criticised
The political scene: Parliament approves a general amnesty bill
The political scene: Recent rapprochement with Turkey remains unpopular
The political scene: "Football diplomacy" moves to the sidelines
The political scene: Nagorny Karabakh is the main sticking point
Economic policy: The government attempts to tackle the fiscal deficit
Economic policy: Value-added tax (VAT) revenue plunges
Economic policy: Anti-crisis loans will help to finance the state budget
Economic policy: Loans for SMEs are made available
Economic policy: The Central Bank continues to loosen monetary policy
Economic policy: There are concerns over rising external debt
Economic policy: Tax reforms continue
The domestic economy: Real GDP contraction is in double digits in second quarter
The domestic economy: The government supports mining and metallurgy
The domestic economy: Agricultural production contracts
The domestic economy: The energy sector shrinks by 9% year on year
The domestic economy: Inflationary pressures continue to subside
Foreign trade and payments: Imports fall sharply in the first quarter
Foreign trade and payments: Exports fall more steeply
Foreign trade and payments: Current-account deficit will fall towards the end of 2009
Foreign trade and payments: FDI inflows remain strong