On August 30, a discussion on modernization of the RA fiscal rules took place which was led by the RA Minister of Finance Vardan Aramyan and attended by independent economists and representatives from different agencies of the RA, private organizations, mass media, and international institutions.
The aim of the meeting was to introduce to the present specialists of the sphere, as well as to different interested members of the society via the “Webinar” tool and discuss with them one of the priority activities of the fiscal policy reforms agenda. Particularly, it was discussed the currently operating rules of deficit of public debt and state budget, their advantages and shortcomings, the necessity of their review and modernization, the proposal packages developed by the RA Ministry of Finance as well as by the experts of the International Monetary Fund on modernization of fiscal rules and introduction of new generation rules.
As a result of the discussions, for increasing the efficiency of fiscal policy, it was highlighted that it is necessary to review, modernize and introduce the existing fiscal rules with a new and more effective format aimed at stabilization of the economy and ensuring the economic growth.
