Tigran Sargsyan: GDP/external foreign debt index totaled 26% by end of 2009

May 22, 2010 – 15:51 AMT 10:51 GMT
PanARMENIAN.Net –

Armenian Prime Minister Tigran Sargsyan said that the Armenian
government has managed to receive credit funds from donor
organizations to implement anti-crisis programs.

Presenting the annual report on the state budget fulfillment in 2009,
the Prime Minister said that the World Bank Armenia allocated $350mln
in 2009.

Meanwhile, $500mln was invested in Armenia’s economy through the
International Monetary Fund.

Besides, $80mln was received from the Asian Development Bank as a
budgetary assistance.

An agreement was reached with the European Union on provision of a
budgetary assistance at the amount of 100mln euros.

In addition, $500mln was attracted from Russia to finance anti-crisis events.

"Thus, the GDP/foreign state debt index totaled 36% by the end of 2009
against 13.2% in 2008. Meanwhile, it provided with the opportunity to
implement business cycle policy of the Armenian government," Mr.
Sargsyan said.