ARMENIAN PM: ARMENIA IS EXPECTED TO RAISE $810 MILLION IN 2009 TO OVERCOME CRISIS

ArmInfo
2009-05-29 17:01:00

ArmInfo. Armenia is expected to raise 300 billion drams credits (nearly
$810 million) in 2005 to finance anti-crisis measures, Tigran Sargsyan,
Prime Minister of Armenia said at the Government, Friday. He said
loans are expected from Russia, World Bank, Asian Development Bank
and International Monetary Fund. These funds will help us increasing
the budgetary deficit and expenditure. ‘We have no intention to cut
expenditure because of the crisis’, the premier said. He highlighted
that the main incomes of the budget are tax revenues.