This report assesses the role of fiscal rules for countercyclical economic management in Kazakhstan and simulates the behavior of different types of fiscal rules. The work represents technical assistance to the ministry of economy and budget planning and has been financed by the joint economic...

Armenia has a very small economy that has carried out strong reforms in many areas over the past decade and a half. It grew at a very fast pace prior to the global crisis (about 12 percent on average between 2000 and 2007), in part due to a strong inflow of remittances and Foreign Direct...