Sun, 26 October
8.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

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

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img