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March 28
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Armenia is ready to discuss its financial participation in the implementation of 13 programs submitted to the EU, Armenian Prime Minister Nikol Pashinyan told reporters on Tuesday.

According to him, the projects concern the development of infrastructures, such as the improvement of roads, the energy sector, the implementation of a program for the construction of about 20 new reservoirs, reforms in the educational and law enforcement fields, as well as judicial and tax systems.

He noted that EU leadership voiced its readiness to promote the implementation of these programs.

 “We understand that the EU will not take on all obligations to fund these programs. Thus, Armenia should also make a contribution. However, there is an obstacle: there are some restrictions in the law on public debt, according to which the national debt cannot exceed a certain percentage of GDP. Thus, in order to contribute to the implementation of the programs, Armenia should turn to external sources, which may imply an increase of public debt. We should seriously discuss whether we are ready to do so or not. Over the next 20 days, we will hold discussions with the Central Bank and experts to make a decision on this issue,” Pashinyan said.

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