EFSD does not exclude the need for additional financing of budget  expenditures of Armenia

ArmInfo. The Eurasian Fund  for Stabilization and Development (EFSD) does not exclude the need  for additional financing of budget expenditures of the Republic of  Armenia. Executive Director of the Project Block at the EFSD Andrey  Shirokov announced this on December 4.

He noted that the next year will be quite difficult for Armenia. "It  is obvious that the government will most likely need additional  fundraising to finance budget expenditures for the next year. Now we  are conducting assessments>, the expert emphasized.

In this regard, he noted that the Fund is in constant dialogue with  the Armenian authorities, as well as with other international  institutions, in particular the IMF, the World Bank. "This gives us  the opportunity to keep our finger on the pulse and monitor the  situation in the Armenian economy," Shirokov stressed.

However, the decisions, as noted by the representative of the EFSD,  will be made on the approval of the RA budget for 2021. "We will wait  until the budget is approved, only then it will be clear what plans  the Armenian authorities have for development in 2021. Proceeding  from this, it is possible to estimate the need for the Fund's money,"  Shirokov said.

Speaking about the current programs with Armenia, he stressed that no  changes are planned in terms of financing in connection with the  military events. <Yes, there were certain delays, but this is not due  to the latest events, but to the pandemic. Since there was a lockdown  in the country and the contractor could not implement the projects on  schedule. But we plan to continue working according to an agreement  previously agreed with the government,"  he concluded.