The Armenian government aspires to a much higher rate of economic growth for medium-term programs, than the 3.2% projected in the budget, finance minister Vardan Aramyan told a cabinet session on Thursday, April 6.

“It’s very important for us to redirect additional resources to capital expenditure. We have had several rounds of discussions on prioritizing the funding of projects which are capital in nature,” Aramyan said.

“We have outlined projects worth $98 million which can be implemented this year.”

The minister said the $98 million will have a definite impact on debt and deficit rates. On the other hand, he said, it’s important to stabilize the debt over the medium term.

“We have good news here. We overfulfiled the AMD 1,135 trillion plan by about AMD 11.5 billion,” the minister said, adding that they hope to maintain the same pace of development in the future.