Armenian PM says economic ambitions must be revived in 2021

Issues related to the 2022 macroeconomic framework were discussed during today’s meeting chaired by Prime Minister Nikol Pashinyan.

“2020 was a very problematic year not only because of the war but also because of a new type of coronavirus. We must clearly state that 2021 will be a year of recovery of our economic ambitions. We need to formulate what can be done to overcome the difficulties, to really restore the economic ambitions we had.”

“We face many economic challenges, but we also have many opportunities. Of course, first of all we must focus on the solution of humanitarian problems, on the other hand, we must say that the trilateral statement signed in Moscow on January 11 and its possible implementation can create completely new economic opportunities for the Republic of . We are ready to take full advantage of these opportunities, I repeat, not only to restore our economic ambitions, but also to set a higher milestone,” PM Pashinyan stated.

Minister of Finance Atom Janjughazyan presented the general forecasts for the economic development and the macroeconomic framework for 2022. He noted that due to the coronavirus epidemic and the war in , it is expedient to start discussions on the budget process earlier.

The meeting discussed, in particular, the 2022 draft state budget, 2022-2024 medium-term expenditure programs, economic policy, economic growth forecasts, fiscal framework, current and capital expenditures.

The Prime Minister noted that the quality of the programs implemented in 2021 will have an impact on the macroeconomic framework of 2022, and it is necessary to be consistent in ensuring high performance of the programs.

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