IN 2009 ARMENIA WILL ATTRACT TOTAL CREDITING OF AMD 300 BILLION
/PanARMENIAN.Net/
29.05.2009 19:33 GMT+04:00
/PanARMENIAN.Net/ To cover budget deficit and overcome financial
crisis consequences, in 2009 Armenia will attract total crediting of
AMD 300 billion, RA Prime Minister Tigran Sargsyan told at Friday’s
governmental meeting. Sargsyan specifically noted that Russian credit
will be partially allocated to budget deficit coverage. "This year
deficit index will register a significant difference compared with
2008, due to AMD 300 billion we’ll attract within current year,
including credits provided by Russia, WB, Asian Bank of Development
and IMF," he said.
In this connection Sargsyan noted that necessary changes should be
implemented for 2009 bugjet fulfillment and retaining of existing
expenditures. According to Prime Minister the issues will be discussed
at parliamentary meeting of June 2.
On May 20 in Moscow Russian Finance Minister Alexei Kudrin and his
Armenian counterpart Tigran Davtyan signed an agreement on granting of
a $500 million loan to prop up the Armenian economy amid the ongoing
economic crisis.
The loan will be extended for 15-years at LIBOR plus 3%.