RA GOVERNMENT CONDUCTS CORRECT POLICY TO COVER 2009-2010 BUDGET DEFICIT

/PanARMENIAN.Net/
29.07.2009 15:49 GMT+04:00

/PanARMENIAN.Net/ Money resources, mobilized by RA Government to
overcome financial crisis consequences, are enough to cover 2009 state
budget deficit, WB Armenia country Manager Aristomene Varoudakis
told PanARMENIAN.Net reporter. "They will also allow financing of
2010 state budget deficit," he added.

According to him, to make further forecasts next year’s economic
growth should be taken into account.

According to RA Prime Minister Tigran Sargsyan’s earlier statement,
currently Armenia has the following financing agreements: with IMF
for $620 million crediting (3-4 years), WB – $540 million (4 years),
Russia – $500 million and Asian Development Bank – around $500 million.

As of March 31, 2009, Armenia’s national debt comprises AMD 754 billion
against AMD 563,5 billion (March 31, 2008 estimates). RA’s external
debt comprises $1778,8 million (AMD 657,9 billion), increasing by 15,3%
or $237,1 million, compared with last year’s data.