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European Commission to allocate euro 60 mln. to Armenia

European Commission to allocate euro 60 mln. to Armenia

PanARMENIAN.Net - The European Commission has approved new funding for Armenia at the amount of euro 60 mln. in the framework of Eastern Partnership.

The means allocated will be directed to speeding up Armenia’s judicial reforms and economic integration.

Apart from boosting transparency and effectiveness of the country’s judicial system, the funding aims to support Armenian institutions involved in RA-EU talks on signing Association Agreement (including the Deep and Comprehensive Free Trade Area), as well as visa facilitation and Readmission Agreement.

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Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
Armenia has been listed in the top 20 among the world’s most economically free countries, raking the 18th out of 159 countries and territories.
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The foreign debt makes up around $4.5 billion, including the government’s $3.99 billion and the Central Bank’s $502.4 million debts.
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