Economy 18:32 17/12/2019 Armenia

The national debt-GDP ratio will be below 50% by 2020, minister of finance says

Chaired by Prime Minister Nikol Pashinyan, the cabinet discussed on Tuesday the  Ministry of Finance budget allocation bid for FY2020, press department at the government reported.

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.



Source Panorama.am
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