Monday, November 22 2021 17:14

ArmInfo.Macroeconomic Research Centre at the Financial Research Institute (FRI) of the RF Ministry of Finance is ready to assist the Ministry of Economy of  Armenia within the framework of its functions.

This became known during the meeting of Minister of Economy of  Armenia Vahan Kerobyan with Samvel Lazaryan, the Head of the  Macroeconomic Research Centre at the Scientific-Research Financial  Institute of the Ministry of Finance of the Russian Federation, which  took place in order to identify the problems that can be solved as a  result of the interaction of the two structures.

As reported by the press service of the Ministry of Economy, Samvel  Lazaryan presented Vahan Kerobyan with the directions of the Centre's  activities. He noted that for several years the Centre has been  cooperating with specialists in the financial and economic sector,  working in the departments of the Republic of Armenia.

Vahan Kerobyan attached importance to such highly specialized  interaction within the framework of cooperation between Armenia and  Russia, expressing the hope that bilateral communication with the  Centre will be regular.

The Minister also presented to the guest several provisions of the  economic areas of the strategy of the RA government, the purpose of  which is to expand economic opportunities, provide conditions for  stimulating exports and form a business environment.

According to the source, the parties touched upon the work of the  Centre in terms of macroeconomic modeling, analysis of investment  risks, as well as some results. At the end of the meeting, the  interlocutors came to an agreement at the next meeting to discuss  specific issues on the agenda.

The FRI was established at the initiative of the People's  Commissariat of Finance (Narkomfin) on 27 February, 1937. It  comprised seven divisions: budgetary, fiscal, money circulation,  credit and circulating assets, consolidated balance, Soviet finance  history, financial plans implementation tracking. The structure of  the Institute departments and its belonging to Narkomfin clearly  indicated the issues for addressing of which it was set up.  The FRI  was included in the structure of the Economy and Finance Ministry of  the Russian Federation in 1991. After the ministries had been  separated the Institute was placed under the jurisdiction of the  Ministry of Finance in August 1992. According to the Charter approved  by the Russian Ministry of Finance in August 1998 the FRI became a  state institution of economic research. During these years the  Institute expanded the scope of research on the major areas of its  activity, participated in drawing up new laws to develop the market  economy and the corresponding financial and credit relations. It also  prepared the budgetary reform including the improvement of  interbudget relations and the draft law on the state financial  control. The FRI in cooperation with the Institute of professional  accountants of Russia (IPAR) acted as the leading agency to implement  the programme of reforming accounting in accordance with the  international standards of financial reporting.