In 2020, the European Union allocated EUR 68,700,000 to Armenia for budget support. This is what acting Minister of Finance of Armenia Atom Janjughazyan said during today’s discussion on the annual report on performance of the 2020 State Budget held as part of the joint session of four standing committees of the National Assembly.

However, the Ministry of Finance of Armenia has declared several times that the year 2019 was the last year for engaging loans for budget support and that the government will make the transition to targeted crediting in order to strengthen the foundations of the economy. The Ministry of Finance has also mentioned that, within the scope of the policy enshrined in the 2020-22 Medium-Term Expenditure Plan, in the medium term, Armenia isn’t planning to engage loans for budget support, which is unprecedented, at least in the past decade.