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Ministry of Finance budget allocation bid discussed in Government


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Chaired by Prime Minister Nikol Pashinyan, the Government today discussed Ministry of Finance budget allocation bid for FY2020/

Finance Minister Atom Janjughazyan reported that the optimization process continues in the Ministry, with the number of staff standing at 382 instead of 556 last year, down by 31%. In the meantime, the Ministry’s car park was optimized. There are currently 4 vehicles in service instead of 17 in 2018.

Atom Janjughazyan reported back the process of state debt service. He stressed that the debt is being serviced at a progressive pace. Armenia is considered to be a low-indebted country and it is expected that by 2020 the national debt-GDP ratio will be below 50%.

The meeting next focused on the opportunities available in the securities market and its development prospects, the reforms underway in the procurement system and other issues of topical interest.

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