RA government conducts correct policy to cover 2009-2010 budget deficit

July 29, 2009 - 16:49 AMT
PanARMENIAN.Net - Money resources, mobilized by RA Government to overcome financial crisis consequences, are enough to cover 2009 state budget deficit, WB Armenia country Manager Aristomene Varoudakis told PanARMENIAN.Net reporter. "They will also allow financing of 2010 state budget deficit," he added.



According to him, to make further forecasts next year's economic growth should be taken into account.



According to RA Prime Minister Tigran Sargsyan's earlier statement, currently Armenia has the following financing agreements: with IMF for $620 million crediting (3-4 years), WB - $540 million (4 years), Russia - $500 million and Asian Development Bank - around $500 million.



As of March 31, 2009, Armenia's national debt comprises AMD 754 billion against AMD 563,5 billion (March 31, 2008 estimates). RA's external debt comprises $1778,8 million (AMD 657,9 billion), increasing by 15,3% or $237,1 million, compared with last year's data.
 Top stories
Armenia dismisses Turkey’s demand to shut down nuclear plant as “inappropriate”Armenia dismisses Turkey’s demand to shut down nuclear plant as “inappropriate”
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia to loan AMD 2.9 billion to KarabakhArmenia to loan AMD 2.9 billion to Karabakh
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
Azerbaijan opposes Armenia’s plans to build new metallurgical plantAzerbaijan opposes Armenia’s plans to build new metallurgical plant
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Armenia attracts record amount of foreign direct investments, says MinisterArmenia attracts record amount of foreign direct investments, says Minister
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
 Articles
4 rules for business success

An ultimate guide

 Most popular in the section
IDBank to participate in Career City Fest 2023
Production of natural vegetable oils was established in Spitak
Shell already in Armenia: First fuel stations put into operation
IDBank offers host of benefits with Visa Travel card
Home
All news
Overview: Economy
Archive for July 29, 2009
Other news in this section
  Related sections
World
 Latest news
Pashinyan’s spokesperson denies intention to visit Baku for COP29 Pashinyan’s agenda doesn’t include a trip to Baku for the COP29 conference, his press secretary Nazeli Baghdasaryan has said.
Russia accuses West of preparing invasion of CSTO countries NATO is preparing an invasion of the CSTO countries, the number of provocations in the air is growing, Sergei Shoigu has said.
Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution.
Armenia: Rescue workers restore pedestrian bridge for flood-hit community Rescue workers on Wednesday, June 5 restored a pedestrian bridge in the town of Alaverdi in Armenia’s north.
---