The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
The main drivers of economic growth in Armenia were the construction and service sectors. The global economic crisis resulted in a substantial change in the structure of the economy. The drastic decline in the volume of foreign financing prejudice the continuation of rapid economic growth in the medium term and point to the need for incentives for exports and diversification, as well as encouraging of high-quality job openings and high levels of productivity. Reforms are needed in the key sectors of agriculture and infrastructure.