Friday, December 23 2016 13:15
Alexandr Avanesov

French Development Agency will lend upcoming reforms budget support EUR 40 mln loan

French Development Agency will lend upcoming reforms budget support  EUR 40 mln loan

ArmInfo. French Development  Agency will lend EUR 40 mln loan, which will be allocated for funding  the deficit of the state budget of Armenia. The appropriate Agreement  with FDA is ratified by National Assembly of Armenia on December 23. 

Presenting the Draft Agreement, the Deputy Finance Minister Armen  Hayrapetyan mentioned, that the document was signed on November 30,  2016.  It assumes rendering a budget loan to Armenia for 20 year term   within grace period for the first 6,5 years. The assets will be  allocated with fixed rates plus flexible margins. The loan is aimed  at the implementation of state reforms in the field of tax and  budget, social development, environmental sustainability improvement.   

The Deputy Minister accentuated that the state budget deficit in 2017  will form 2,8 % of GDP, or about AMD 150 bln, and the resources  involved will give an option  to solve a number of problems,  including the wages payouts issue. Launching this loan will not lead  to decrease of the country's solvency . Armenian government is  intended to involve such loans to capsulate a comprehensive field for  investments attraction.  According to him, the payouts top will be in  the years of 2020 and 2025, when except the body amount of involved  loans, a need to attract Eurobonds will occur  also. In 2016 Armenia  fulfilled all the duties in respect to state debt payouts. 

According to the budget of Armenia for 2017, the expenses items form  AMD 1 trln 377 bln  ( with the expenses/GDP correlation at 25,3%),  and the revenues part is AMD 1 trln 186,3 bln  ( with the  expenses/GDP correlation at 21,8%), within the deficite forming AMD  197 bln (deficit/GDP correlation 3,5%) 

POST A COMMENT
Input digits     


News
Iranian companies to carry out construction on 32km-long section of  Kajaran-Agarak road Iranian companies to carry out construction on 32km-long section of Kajaran-Agarak road
Gevorg Papoyan met with UNDP Permanent Representative Natia  Natsvlishvili Gevorg Papoyan met with UNDP Permanent Representative Natia Natsvlishvili
Know the penalties for late personal income tax filing Know the penalties for late personal income tax filing
Foreigners` transactions on buying and selling property reduced in  ArmeniaForeigners` transactions on buying and selling property reduced in Armenia
Land purchase and sale transactions in regions of Armenia increased  by 12.7%Land purchase and sale transactions in regions of Armenia increased by 12.7%
4.1% rise in housing prices in Yerevan in first half of 20244.1% rise in housing prices in Yerevan in first half of 2024
Armenia`s minister of territorial administration visits Masrik-1  solar stationArmenia`s minister of territorial administration visits Masrik-1 solar station
Domestic debt forming part of government`s debt exceeds foreign debt  for first timeDomestic debt forming part of government`s debt exceeds foreign debt for first time
UNDP programme: warm houses, less expensesUNDP programme: warm houses, less expenses
Ministry of High-Tech Industry supports Team Telecom Armenia Ministry of High-Tech Industry supports Team Telecom Armenia
Armenian-United Arab Emirates business forum to take place in Abu  DhabiArmenian-United Arab Emirates business forum to take place in Abu Dhabi
IDBank continues the IDBank continues the "By Your Side" Program
Armenian ambassador to Greece highlights importance of Armenia`s  active participation in TIF-HELEXPOArmenian ambassador to Greece highlights importance of Armenia`s  active participation in TIF-HELEXPO
Air Arabia plans to sue Armenia at ArbitrationAir Arabia plans to sue Armenia at Arbitration
EFSD conducts workshop on procurement and financial management of  projects EFSD conducts workshop on procurement and financial management of  projects 
Iran-Armenia high-voltage line to be put into operation in few months  - ambassadorIran-Armenia high-voltage line to be put into operation in few months  - ambassador
New Armenal management could start presale preparation New Armenal management could start presale preparation 
Our team is doing everything possible to manage increased traffic  more efficiently - ZvartnotsOur team is doing everything possible to manage increased traffic  more efficiently - Zvartnots
CBA to direct 80% of its annual profit to partly cover interest-free  bill of exchange  CBA to direct 80% of its annual profit to partly cover interest-free  bill of exchange  
Few concerned in Armenia over high pesticide level in food - NGO head Few concerned in Armenia over high pesticide level in food - NGO head 
Head of Economic Competition Protection Commission explains gas price  rise Head of Economic Competition Protection Commission explains gas price  rise 
EFSD to provide $2 mln grant to Armenia for program to improve  quality of financial reporting of public sector organizationsEFSD to provide $2 mln grant to Armenia for program to improve  quality of financial reporting of public sector organizations
WB to provide $110mln loan to Armenia for universal health coverage WB to provide $110mln loan to Armenia for universal health coverage 
Ingo Insurance presents job loss insurance in Armenia`s market Ingo Insurance presents job loss insurance in Armenia`s market 
As long as Pashinyan government remains in power in Armenia, it is  unlikely Armenia will launch a counter bid or join BRICS  - opinion As long as Pashinyan government remains in power in Armenia, it is  unlikely Armenia will launch a counter bid or join BRICS  - opinion 
Cattle productivity improvement programme to be launched in Armenia Cattle productivity improvement programme to be launched in Armenia 
South Caucasus needs unified market without strategic partners -  expert South Caucasus needs unified market without strategic partners -  expert 
New world order to show Armenia can and must cooperate with with all  nations - Tatul Manaseryan New world order to show Armenia can and must cooperate with with all  nations - Tatul Manaseryan 
Armenia needs 600MW NPP - ex-premier Armenia needs 600MW NPP - ex-premier 
Post of Russia considering possibility of mailing to Armenia via  North Ossetia  Post of Russia considering possibility of mailing to Armenia via  North Ossetia  
Advantages of franchising discussed in Armenia with Acba Bank`s  participation Advantages of franchising discussed in Armenia with Acba Bank`s  participation 
Czech Republic to assist modernization of Yerevan metro Czech Republic to assist modernization of Yerevan metro 
Wine output records 32.6% y/y decline in Jan-May Wine output records 32.6% y/y decline in Jan-May 
ICC NCA to assist organization of WCIT2024 in Armenia ICC NCA to assist organization of WCIT2024 in Armenia 
New social vulnerability assessment system to be introduced in  Armenia New social vulnerability assessment system to be introduced in  Armenia 
Armenia`s government to provide AMD 2.2bln to construction  organizations Armenia`s government to provide AMD 2.2bln to construction  organizations 
AMD 4․046․161  to the Strong Mind NGO. July`s beneficiary is the SIA Armenia programAMD 4․046․161 to the Strong Mind NGO. July`s beneficiary is the SIA Armenia program
Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4
Ardshinbank was again Named Best in Two Categories by Asian Banking & Finance MagazineArdshinbank was again Named Best in Two Categories by Asian Banking & Finance Magazine
Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official 
China Southern Airlines launches Urumqi - Yerevan - Urumqi flights China Southern Airlines launches Urumqi - Yerevan - Urumqi flights 
Get 3000 idcoins by synchronizing your Idram and IDBank accountsGet 3000 idcoins by synchronizing your Idram and IDBank accounts
Armenia`s involvement in regional projects emphasized Armenia`s involvement in regional projects emphasized 
Armenian Airlines launches Yerevan-Ufa-Yerevan flightArmenian Airlines launches Yerevan-Ufa-Yerevan flight
Unemployment up in Armenia Unemployment up in Armenia 
Armenia`s economy vulnerable to external shocks - EFSDArmenia`s economy vulnerable to external shocks - EFSD
EAEU Industrial Council considers robotics development programme EAEU Industrial Council considers robotics development programme 
Smart Place: smart solutions for comfort and energy-savingSmart Place: smart solutions for comfort and energy-saving
Russia among Armenia`s major trade partners - Gevorg Papoyan  Russia among Armenia`s major trade partners - Gevorg Papoyan  
Armenia, UAE discuss possibilities of agricultural cooperation Armenia, UAE discuss possibilities of agricultural cooperation 
Expert on `blank spots` of budget planning in Armenia Expert on `blank spots` of budget planning in Armenia 
Armenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy CouncilArmenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy Council
No payment via Idram? More than 21,000 points of sale accept payment via IdramNo payment via Idram? More than 21,000 points of sale accept payment via Idram
<Gazprom Armenia> will conduct a survey of underground gas pipelines  with a total length of over 335 km will conduct a survey of underground gas pipelines  with a total length of over 335 km
WB to issue grant to Armenia for environmental protection programmes WB to issue grant to Armenia for environmental protection programmes 
JFPR to issue $3mln grant to improve rural household resilience JFPR to issue $3mln grant to improve rural household resilience 
EBRD to issue EUR 2mln grantfor Syunik customs center  EBRD to issue EUR 2mln grantfor Syunik customs center  
Armenia, Georgia discuss possible implementation of regional  high-tech projects Armenia, Georgia discuss possible implementation of regional  high-tech projects 
Ameriabank and COAF Pool Efforts to Develop Beekeeping in Lori RegionAmeriabank and COAF Pool Efforts to Develop Beekeeping in Lori Region
Deputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian marketDeputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian market
Read more
Exchange rates
23.07.2024
RUB4.420.01
USD387.910.16
EUR421.35-0.91
GBP500.48-1.31
CAD281.91-0.21
JPY24.860.14
CNY53.330.02
CHF435.27-1.63