Yerevan, September 13 /Mediamax/. The International Monetary Fund (IMF) recommends Armenia to strengthen the coordination of the activities of the money-and-credit and tax-budget bodies.

Mediamax reports that Hassan Al-Atrash, who heads the IMF mission, which worked in Armenia from August 31 to September 13, stated this in Yerevan today. According to him, the improvement of the coordination will allow reducing the risks, concerning the strengthening of the national currency. Hassan Al-Atrash noted that the further strengthening of the real exchange rate might negatively influence the competitive ability of the Armenian economy.

During the visit, the IMF mission and the Armenian authorities came to an agreement regarding the basic indices of the economic program of 2007. Thus, the program growth of the GDP in 2007 in Armenia will make 9%, the inflation - 4%, the budget deficit relative to the GDP will make 2,4%.

As Hassan Al-Atrash noted, it is necessary to develop the Armenian financial sector to preserve the high speeds of the economic growth, stimulating, in particular, the development of the insurance and securities markets.

He also stated that the IMF will provide Armenia with a regular tranche of the “Poverty Reduction Growth Facility” [PRGF] credit at the rate of $5mln in November 2006.