Sun, 6 April
19.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Revised Version Of Sustainable Economic Development Program To Be Ready In First Half Of This Year

YEREVAN, March 14. /ARKA/. Artak Baghdasaryan, chief of Armenian finance ministry’s division in charge of economic policy, said Monday that the revised version of the sustainable economic development program would be ready in the first half of this year.

“The program with particular plan of measures and indicators was approved in 2008, but the crisis has affected the economy and the program has lost its sense, since measures implied by the program are no longer necessary and goals and results deviated from the reality,” he said.

Experts at international organizations, including UNO, World Bank, International Monetary Fund, GTZ and European Commission, are involved in the revision of the program.

Explaining the necessity of this revision, Baghdasaryan said that Armenian government, deviating from the long-term strategic program, has worked out a package of extraordinary anti-crisis measures.

“In 2010, when Armenia’s economy started recovering, we saw that things became quite predictable and that time has come to embark on long-term strategic planning,” he said. “That is why the government added the revision and implementation of the sustainable economic development program to its top-priority objectives.”

Baghdasaryan said that neither policy nor strategy would be altered in the program. He said only indicators will be changed.

He added that the top-priority objectives outlined in the program proved their right to existence even amid the crisis, but after the crisis the country’s development should speed up.

Baghdasaryan said that the government’s social policy has proven to be effective.

Only thanks to the steps taken by the government, poverty rate reached 34.1% instead of 49.6%.

The government’s 2008-2012 development program implied eight-to-ten-percent GDP growth.

In October 2008, the government approved the revised version of strategic poverty elimination program renaming it the sustainable economic development program for the period of time ending in 2021.-0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img