The RA Minister of Finance Atom Janjughazyan received a delegation led by Athanasios Arvanitis, Deputy Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF).
During the meeting, the parties discussed current and expected fiscal developments in 2019, projections of the state budget for 2020, tax reforms coming into force from 2020 and expected ones, as well as issues related to public investment management and public debt management strategy. Reference was made to the reform agenda included in the three-year cooperation program between Armenia and the IMF and their implementation.
Atom Janjughazyan, presenting the developments and forecasts of the state budget, noted that the Government of Armenia has aimed to gradually increase the role of capital expenditures and thereby create a basis for long-term economic growth and further higher incomes, which would enable to effectively serve current liabilities. The Minister stressed that the Armenian Government will continue the tax reform agenda aimed at economic development. He highly appreciated the role of the IMF in ensuring the macroeconomic stability of Armenia and the implementation of reforms of the RA Government.
According to Athanasios Arvanitis, the implementation of the key targets and reforms agenda of the three-year program is largely effective and the IMF is ready to assist Armenia in the implementation of these reforms. He expressed hope that the agenda of the program reforms under the mutual cooperation would be in line with the planned.
