Republic of Armenia: Selected Issues

International Monetary Fund

No 2006/434, IMF Staff Country Reports from International Monetary Fund

Abstract: Although Armenia itself has a population of only about 3 million, an estimated 8 million Armenians live abroad. In this paper, the size and the sources of remittances to Armenia are first discussed. Then, the appropriate definition of remittances and subsequently present estimates of the macroeconomic effects of remittances to Armenia are outlined. Remittances play a significant role in the Armenian economy. They amount to between US$250 million and US$1 billion per year, and constitute from 25 percent to 80 percent of remittance receivers’ incomes.

Keywords: ISCR; CR; remittance; tax; VAT; Armenia; GDP; revenue; remittances sender; remittances to Armenia; GDP growth; traditional remittance; remittances component; Remittances; Financial sector development; Tax administration core functions; Commercial banks; Middle East; Central and Eastern Europe; Eastern Europe; Baltics; Europe (search for similar items in EconPapers)
Pages: 42
Date: 2006-12-11
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Citations: View citations in EconPapers (3)

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