PREMIER: ARMENIAN GOVERNMENT ABLE TO FULFILL 2010 STATE BUDGET

ARKA
November 18, 2009
Yerevan

On Wednesday, Armenian Prime Minister Tigran Sargsyan, speaking in
National Assembly at the discussion of the 2010 state budget, said
that Armenian government is able to fulfill the 2010 state budget.

He is convinced that the ruling party in cooperation with all concerned
parties "will manage to solve all the problems accumulated in the
country and fulfill all the objectives set by the Armenian president".

The premier said that the key aim of the 2010 state budget is to
maintain the 2009 social expenses.

Sargsyan said that health and education reforms have already reached
the crucial stage. This will make it possible to improve financing
mechanisms for these areas.

Social expenses constitute 45.7% of AMD 859.7 billion expenditure in
the 2010 budget.

Expenses for education are planned at AMD 95 billion, for healthcare
AMD 54.1 billion and social security AMD 239.8 billion.

The prime minister said that the government will put in practice the
concept implying the second stage of reformation.

The concept also implies separation of ministries and state agencies’
functions and specification of relations among them.

Besides, the government is going to implement insurance and pension
reforms.

The government is also planning to ease the country’s debt burden
and negotiating with IMF now on restructuring the loans taken from
international organizations.

The government is going to start negotiating with the World Bank and
Asian Development Bank over the matter.

Armenia is attracting foreign funds for bailout measures.

Russia has lent $500 million to Armenia, the International Monetary
Fund has pledged $822.7 million and the World Bank will transfer $545
million to Armenia in 2009 and 2010.