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Time in Yerevan: 11:07,   29 March 2024

Government implemented reasonable fiscal policy, finance minister says

Government implemented reasonable fiscal policy, finance minister says

YEREVAN, SEPTEMBER 25, ARMENPRESS. The Armenian government has designed and implemented a reasonable fiscal policy in 2017, which is proved by the response of international structures towards this policy, Armenia’s finance minister Vardan Aramyan told a press conference on September 25.

“As you know, we’ve been in a serious crisis for two years 2014-2015, during this time the indicator of our foreign debt increased by 13%. If we were to continue increasing the debt in the subsequent years, naturally it would be followed by a negative response of international structures, the investors in our bonds, however we succeeded in designing and implementing a fiscal policy in 2017 which ensured positive trends”, the minister said.

He stressed that Moody’s, Fitch and the IMF responded positively to this fiscal policy.

“This proves that our actions were effective, and we succeeded in overcoming the difficulties which had appeared after the crisis and we were able to stabilize the situation”, he said.

 








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