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–
