Tuesday, November 6 2018 12:14

ArmInfo.In 2019, Armenia will receive from the European Union 16 million euros of grant funds for budget support, against 11.5 million euros in 2018, the Acting  Minister of Finance of Armenia Atom Janjughaghyan said, on November 6  during hearings in parliamentary commissions on the draft budget for  the next year.

According to him, the funds will be provided to Armenia within the  framework of the Armenia-EU Action Plan.

In general, in 2019, financial assistance to Armenia of European  origin will amount to 42 billion drams in the framework of various  assistance programs. Of these, 20.5 billion drams will be credit  resources, and 22 billion drams - grant.

To note since 2014, the European Union has provided Armenia with  financial assistance in the amount of about 120 million euros. The  focus was on economic development, innovation and personal  development, strengthening the rule of law and developing the  business environment. The EU also assisted in the conduct of  elections and the development of international relations. Armenia  received funding for participation in multilateral projects. The  development of transport infrastructure and an energy efficiency  improvement program was carried out within the framework of the  Neighborhood Investment Fund. Further support of the EU is aimed at  achieving concrete assistance to citizens in such areas as legal  reform, access to financial and economic development, development of  connections, education and mobility. Since 2014, Armenia received 70  million euros as grants through the Neighborhood Investment Fund  (NIF), which led to an investment of 412 million euros in the  country.

The EU is the main export market of Armenia and the second largest  source of imports (the EU's share in Armenia's exports is 26%, and in  imports - 22%). In 2016, the volume of EU imports from Armenia was  estimated at 200 million euros, and the volume of exports from the EU  to Armenia - at 600 million euros.  The largest volume of exports  from Armenia to the EU accounts for metals and diamonds. The main  export items from the EU to Armenia are: engineering products,  transportation equipment, and various industrial products, including  products of the chemical industry.