Armenian Prime Minister Tigran Sargsyan said that the Armenian government’s social and economic policy will be basically aimed at returning from anti-crisis policy to sustainable development of economy. Besides, reforms will be implemented to develop the country, Mr. Sargsyan said, presenting the 2011 draft state budget in the RA National Assembly.
“The government’s economic policy in 2011 will be basically aimed at diversification of economy and expanding export orientation, deepening of social orientation of the pursued economic policy, development of infrastructures, considerable improvement of business and investment environment, revelation and usage of additional stimuli securing economic growth,” the Prime Minister said.
Tigran Sargsyan noted that the pursued macroeconomic policy envisages gradual cut in budget deficit, limitation of paces of state debt growth, regime of floating currency, the governmental press service reported.
Specifically, the target inflation rate makes 4% in 2011. A program of budget deficit is envisaged to be implemented with respect to budgetary expenses. Under the program, the deficit should make maximum 4%. The deficit will be basically financed by borrowed funds from internal and external sources. Meanwhile, 86.8% of the funds will fall on the share of external debt, which, according to forecasts, will total $43055.1mln by the end of 2011. Similar level of the external debt is an average or low credit load, which does not contain threats for its servicing.
