Armenian Government discusses Finance Ministry's 2020 budgetary allocations

The Armenian Government on Tuesday hosted a special meeting chaired by Prime Minister Nikol Pashinyan to discuss the Finance Ministry's proposed budgetary allocations for 2020.

Minister Atom Janjughazyan said their agency continued its optimization processes in the past months, reducing the number of the staff positions by 31% to 382 (instead of the 556 in 2018). He added that the processes applied also to the Ministry's car park to reduce the number of the service vehicles from 17 to 13.

Addressing the state debt, Janjughazyan said that it is being served a progressive paces now.

Noting that Armenia is presently listed among the world countries with a low debt level, the minister said they expect the state debt-to-GDP ratio to be below 50% in the 2020.

According to an official press release by the Government, the sides also discussed the possibilities on the stock market and future plans, as well as the reforms in the procurements and other issues in the financial sector.