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Armenia initiates countercyclical fiscal policy, prepares aid action plan amid global COVID19 crisis

armenpress.am03/26th/2020, 9:54

Armenia initiates countercyclical fiscal policy, prepares aid action plan amid global COVID19 crisis

The Armenian Government is expected to make amendments in the 2020 government budget’s spending and revenue, PM Nikol Pashinyan said at the Cabinet meeting.

Finance Minister Atom Janjughazyan added that the forecasts made in 2019 for 2020 and next years are no longer actual amid the global COVID-19 pandemic.

“The content of the upcoming budget amendments is that the fiscal policy is trying to implement its countercyclical logic and add participation in the economy. Regarding our fundamental work, I would like to note that we are going to fulfil what was planned by the government action plan, we will simply do it faster and deeper,”...

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