In our opinion, the draft of the 2021 State Budget is well-balanced and shows Armenia’s future revenues, challenges and expenditures. This is what Deputy Prime Minister of Armenia Mher Grigoryan told reporters in parliament today.

“In the government’s opinion, all the factors are considered in the draft, and there is a financial logic in order to have a sustainable economy and a sustainable social situation,” he said.

Asked what impact the war had on the situation, the Deputy Prime Minister said martial law had and will have an impact on the economy and budget entries. “The government needs to think about the debt threshold, but I believe we will find the balance that will provide the opportunity to get out of this situation, neutralize the risks arising from the challenge, as well as manage and have a sustainable social-economic situation,” he added.

Asked how much the threshold of Armenia’s public debt will be in 2021, Grigoryan said the following: “I assure you that the public debt threshold is not as important as the effectiveness and goal of spending the debt funds. Yes, there will be a change of public debt threshold, but I am certain that after a change of threshold, we will introduce mechanisms for expenditures to help generate results.”