The Twin Deficits in the Economy of - variants
Whilst this fell sharply during the global lockdown and big hit to world trade, it is picking up again as world trade recovers. The US, the Euro area and Japan are all doing the same. More serious is the balance of payments deficit. This now stems from two main causes. The first is the persistent large trade deficit with the EU. Our surplus with the rest of the world does not manage to get anywhere near offsetting all of this. The second is the now persistent deficit on investment income account. Because for the last few decades we have imported so much more than we exported to the continent, we have had to sell companies, properties and shares to foreign buyers to raise the foreign exchange we need to pay for all the European imports. In future blogs I am going to return to the question of how once out of the single market and customs union we can reduce our trade deficit with the EU and stem the need to keep making our investment position worse by having to sell our assets. The Twin Deficits in the Economy of.The reduction of private and public income in the light of declining economic growth in Armenia facilitates fiscal and external sector imbalances. Twin deficits prevailing in the Armenian economy - budget deficit and current account deficit are expected to remain in the medium and long-term.
POLICY RESERVE
Budget deficit. The sharp economic contraction in the second quarter of this year Budget revenues significantly deviated from Ecoonomy planned indicators. The revised official forecasts show 6. Armenia has exceptionally high infection per capita rate, thus the fiscal balance of the country is strongly affected by the pandemics. Projected to be 10 percent of overall public spending in before the onset of the COVID pandemic, the health expenditures are expected to be higher.
COVID-19 and the great reset: Briefing note #31, November 11, 2020
Meanwhile, the military spending is increased in budget. As reported by the U. Conditioned with the current military situation in Armenia, these expenses with little fiscal multiplier effectmay rise and further tighten the Deficist space for infrastructure investments and socialexpendituresin Armenia. Despite the pension reforms, pension system remains ineffective and creates additional burden to the budget deficit. Low productivity, aging population and high emigration rate deepens this problem.
According to UN, Armenia is expected to have an old-age dependency ratio of around EU estimates the financial sustainability of the Ecobomy systems to deteriorate on average by 4. The youth emigration from Armenia adds more to this issue. The average net migration rate for was The national debt in Armenia has increased by 8.]
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