1 / 1

On March 28, at the regular sitting, the RA NA Standing Committee on Economic Affairs, chaired by Babken Tunyan, 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 February 28, 2022.

The RA Minister of Finance Tigran Khachtryan noted that in the beginning of 2021, the Government completed the issuance and placement of Eurobonds with an unprecedented volume ($750 million), with the lowest yield (percentage) of all sovereign issues. The placement yield was 3.875%, and the coupon yield was 3.6%, compared to 4.2% and 3.95% of the issuance in 2019 and 7.5% and 7.15% of the issuance in 2015. It was done in an open and absolutely 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 total capital expenditures of the Government were about 217,8 billion AMD, and their performance recorded the highest indicator in recent years - 92.3% of the adjusted plan, and 100% of the plan originally set for the year. The 92.3% performance against the adjusted plan of capital expenditures is the highest indicator for the last four years.

“Debt should be taken when there is a need and purpose for it,” Tigran Khachatryan said.

The RA Minister of Finance also answered to the Committee members’ questions.