Tue, 8 April
9.1 C
Yerevan
USD: 391.14 RUB: 4.55 EUR: 428.65 GEL: 142.05 GBP: 501.60
spot_img

Finance minister: Armenia gradually going back to stable economic development

YEREVAN, October 6. /ARKA/. Armenia is gradually going back to stable economic development, Armenian Finance Minister Tigran Davtyan said Wednesday at a news conference.

He said that the government pursued a well-thought-out and justified expansionary policy in 2009 and is gradually stepping back from it either in economic or in budget planning.

The government refrains from a sharp back-off since finds this risky.

“We are reducing our expansionary policy and embarking on a curbing policy to narrow the budget deficit and lessen inflation risks, but we are doing this smoothly, without shocks,” the minister said.

Davtyan also said that the government has no intention to attract additional financial resources in the coming years.

He said that only those credit programs, on which agreements were reached earlier, would be implemented.

The finance minister pointed out the World Bank, International Monetary Fund and Asian Development Bank’s projects among them.

On September 30, the Armenian government approved the draft budget for 2011.

According to it, the budget spending will come close to AMD 1 trillion, revenue is planned to total AMD 849.9 billion and deficit will amount to AMD 148.6 billion.

GDP growth is projected at 4.6%. ($1 = AMD 360.76).  –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia discusses bankruptcy reforms with ADB and AFD

Reforms of Armenian legislation in the field of bankruptcy were discussed at a meeting between Deputy Minister of Justice of Armenia Tigran Dadunts and representatives of the Asian Development Bank (ADB) and the French Development Agency (AFD).

Average AMD/USD exchange rate in March was 1.9% lower than a year ago

In March 2025, the average AMD/USD exchange rate was 392.8, which is 1.9% lower than in March 2024 (400.4 AMD), the National Statistical Committee reports.

Banks and SMEs discuss prospects for cooperation (VIDEO)

The Union of Armenian Banks, in collaboration with the German-Armenian Fund, brought together representatives of the financial sector to conduct an important dialogue between banks and SMEs, summarize the past year, and plan for future work.

Dollar, Euro And Ruble Exchange Rates Slightly Decrease Against Dram

The average market exchange rate of the US dollar to the Armenian dram on April 4, 2025, dropped by 0.1 points compared to April 3 and amounted to AMD 391.22.

LATEST NEWS

spot_imgspot_imgspot_img