YEREVAN. – World Bank’s Poverty Reduction and Economic Management Unit for Europe and Central Asia Region presented a report entitled “Armenia: A Study of State Expenditure - Fiscal Consolidation and Recovery.”   

According to Armenian Minister of Finance Vache Gabrielyan, this is the second such report on Armenia. The first one was prepared in the early 2000s, and at the time it substantially impacted Armenia’s fiscal policy.  

Despite the severe economic crisis, Armenia’s position is fairly steady and strong, World Bank representative Yvonne Tsikata stated during a briefing with news reporters. “This enabled Armenia’s government to introduce a fiscal package which stimulated economy. The report’s objective is to continue with these efforts, so that the country can be prepared for new possible crises,” Tsikata noted.