Time in Yerevan: 11:07:36,   22 November

No money problem in Armenia for capital investments – PM

No money problem in Armenia for capital investments – PM

YEREVAN, OCTOBER 17, ARMENPRESS. There is no problem of money in Armenia for making capital investments, Prime Minister Nikol Pashinyan said during today’s Cabinet meeting.

“I have stated that our biggest problem is the capital expenditures. But compared to the last year, this year the capital expenditures are very tangible, but we cannot reach the bar we set because we have also set high qualitative standards”, he said.

Pashinyan said he reaffirms his previous statement that they have no problem of money. “This also gives rise to political speculations. But when we say that we have no problem of money, it doesn’t mean that we should go out and just distribute money, because in that case the value of money would fall, in other words, it will be devalued”, he said, adding: “When we say that we do not have a money problem, we mean that we do not have a money problem for capital investments. In the 9 months of 2019 the revenue part of the budget increased by 21.6%. We are working on the strategy and came to the conclusion that potential sums should be attracted on capital expenditures which we consider as mega-projects, and in that case the money will have a value”, the Armenian PM said.

Edited and translated by Aneta Harutyunyan

 




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