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ARMENIA UNDERTAKES STEPS FOR THE REGULATION OF BALANCE AND BUDGET DEFICIT
ARMENPRESS
SEPTEMBER 9, 2011
YEREVAN
Armenia is undertaking steps for the regulation of balance and
budget deficit, Finance Minister Vache Gabrielyan told a news
conference today. According to him, the mentioned steps have found
their reflection in the assessments of world rating organizations
and particularly "Fitch". "Fiscal deficit increased essentially in
Armenia in 2009 when taking debt commitments we have smoothened the
consequences of the economic crisis", the minister said, adding that
during this period the budget deficit reached 7.5% of GDP.
"We are moving with the program approved by the International Monetary
Fund and are regularly reducing the budget deficit", the minister said.
Particularly, from 7.5% the budget deficit reduced to 5%, this year
it will become 3.9-4%, next year 3.-3.1%. "It means that we are
stably managing the fiscal crack of the budget and in this respect
we received positive assessment", Gabrielyan said.
ARMENPRESS
SEPTEMBER 9, 2011
YEREVAN
Armenia is undertaking steps for the regulation of balance and
budget deficit, Finance Minister Vache Gabrielyan told a news
conference today. According to him, the mentioned steps have found
their reflection in the assessments of world rating organizations
and particularly "Fitch". "Fiscal deficit increased essentially in
Armenia in 2009 when taking debt commitments we have smoothened the
consequences of the economic crisis", the minister said, adding that
during this period the budget deficit reached 7.5% of GDP.
"We are moving with the program approved by the International Monetary
Fund and are regularly reducing the budget deficit", the minister said.
Particularly, from 7.5% the budget deficit reduced to 5%, this year
it will become 3.9-4%, next year 3.-3.1%. "It means that we are
stably managing the fiscal crack of the budget and in this respect
we received positive assessment", Gabrielyan said.