YEREVAN. - Budget deficit in Armenia is expected to stay low in the midterm, Mr Mark Horton, head of the International Monetary Fund’s mission to Armenia, told the media Friday in Yerevan, on the conclusion of the mission’s latest working visit and Article IV consultations with the financial authorities of Armenia.

While several years ago it hovered at around 8% (7,7% in 2009), 2014 was concluded with just 2%.

2015 is following this pattern, in large part due to contraction in gas imports because of a rather mild winter. At the same time, exports have performed reasonably well, especially given the difficult external environment.

Prudent fiscal policy will help to keep deficit at bay in the range of 2%, he added.