A working agreement has been reached between Armenia and the International Monetary Fund (IMF) on the second review of the current three-year Reserve Program, by which additional $24.3 million will become available for Armenia, bringing the total available funding to $72.9 million, the Ministry of Finance of Armenia informs Armenian News-NEWS.am.
The basis of this review was the considerable progress made by Armenia in maintaining macroeconomic stability, strengthening the economy’s resilience, continued implementation of structural reforms, revenue mobilization, public investment management, and improving the business climate.
The IMF expects that the planned deficit of Armenia’s state budget will enable priority social and capital expenditures, and the continued efforts to improve revenue mobilization will allow for the formation of necessary resources.
In addition, the planned fiscal policy will prevent the Armenian economy from “overheating” and keep the national debt at a stable and manageable level.
