EFSD to provide $100m loan to Armenia as budget support
The Armenian government on Thursday approved a draft agreement on a $100 million loan from the Eurasian Fund for Stabilisation and Development #40;EFSD#41; to cover the budget deficit in 2024.br /
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YEREVAN, 25 July. /ARKA/. The Armenian government on Thursday approved a draft agreement on a $100 million loan from the Eurasian Fund for Stabilisation and Development (EFSD) to cover the budget deficit in 2024.
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The government estimates the state budget deficit in 2024 to be about AMD 483 billion. The main part of the deficit, almost 75 per cent, will be covered by issuing government bonds and the rest by foreign loans, including about $100 million from y the EFSD.
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A list of economic reforms developed by the Ministries of Economy and Labour and Social Affairs, aimed at increasing business productivity and developing the labour market is attached to the agreement.nbsp;
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The Eurasian Fund for Stabilization and Development is an international financial institution managing $9 billion of funds established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan with the goals to assist its member states in overcoming the consequences of global financial crisis, to ensure their long-run economic stability and to foster economic integration ofnbsp;EFSD member-countries. -0-
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