ArmInfo.The projects implemented in Armenia jointly with international partners are very important in terms of their financial component, but the application of the best foreign standards in the country is more important. Deputy Prime Minister Mher Grigoryan announced on November 15 from the rostrum of the RA National Assembly.
According to him, these programs should have a positive impact on the quality of life of the country's citizens. In 2023, a new three-year program worth $171.1 million was signed with the IMF. The goal of the program is to ensure macroeconomic stability and assist the Armenian government in implementing the structural reform agenda. As part of the program, a number of measures will be implemented in 2024 aimed at reforming the public finance management system, improving tax administration and developing the labor market.
Grigoryan noted that in 2023, comprehensive cooperation with the World Bank continued, with which work began on developing a partnership program for 2024-2028. In particular, a "Green, sustainable and inclusive development policy" agreement was signed with the World Bank, according to which Armenia will be provided with a loan in the amount of 92.3 million euros.
As for the EAEU, as the Deputy Prime Minister noted, over the 9 months of 2023, trade turnover with the Union member countries increased by 47.5%, amounting to more than $5 billion. According to him, in 2023, positive changes with a stable outlook were recorded in the sovereign ratings given to Armenia by Fitch and S&P.
According to Grigoryan, this proves that the fiscal policy implemented by the Cabinet of Ministers also has a positive impact on the country's external rating. "I am confident that the results of the implementation of the state budget for 2023, as well as the approved draft budget for 2024, will contribute to the growth of the international rating and prestige of our country. At the same time, its reputation as a stable and reliable partner will continue to strengthen," the Deputy Prime Minister concluded.
