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At March 21 extraordinary sitting moderated by Gevorg Papoyan, the RA NA Standing Committee on Financial-Credit and Budgetary Affairs debated the Report on Implementation Process and Results of the RA Government Programme for 2021 (2021-2026) approved by the N 234-A Decision of the RA Government on 28 February 2022.

The Minister of Finance Tigran Khachatryan noted that during 2021 the economic policy of the Government was aimed the expansion of the economic opportunities and ensuring their equal accessibility, the development and realization of the human creative skills, as well as the formation of the environment boosting the export.

The Minister stressed that in 2021 the Government reached to an end the release and the distribution of the Euro bonds with unprecedented amount (750 USD) and with the lowest yield in the sovereign all releases (with interest). The yield of the distribution was 3.875%, the coupon release – 3,6%. It was carried out in an open and absolute competitive way in the international financial markets.

In 2021, the international authoritative Fitch and Moody’s agencies reaffirmed the ratings with ‘stable’ perspective given to Armenia, the level of the creditworthiness was assessed as ‘credible’ emphasizing the capability of the Government managing the existing risks. In 2021, the authoritative Standard and Poor’s granted a credit with ‘positive’ perspective to Armenia, assessing the fact of maintaining macro-economic stability for the capability of the Government and pursuing reasonable and reliable macro-economic policy.

The Minister also noted that the foreign debt of our country was 2 trillion 972bln AMD by 31 December 2021, which was more than 46.2bln compared with the same period of 2020.

The inner debt was 1 trillion 237bln, which was more than 240bln compared with 2020.

Tigran Khachatryan answered to the Committee members’ questions.

The Chairman of the State Revenue Committee Rustam Badasyan considered important the introduction of the wide spread declaration institute. “We don’t see any problem on the first quarter, it will be carried out as it has been designed,” Rustam Badasyan said.

The Governor of the RA Central Bank Martin Galstyan touched upon the inflation problems. He has noted that Armenia is one of the countries where the inflation trajectory has gradually decreased.

The Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan assessed positive the implemented monetary-credit, the tax-budgetary policies, the economic activeness and the economic policy pursued by the Government.

The debated issue was accepted as an information.