Prime Minister Nikol Pashinyan held a consultation to discuss the range of macroeconomic priorities for 2022.

In his opening remarks, Prime Minister Pashinyan noted: “2020 was a challenging year, including in economic terms, not only because of the war, but also due to Covid-19. We must clearly state that 2021 should be a year reinstated economic ambitions. We must formulate those measures that will allow us to overcome difficulties and actually restore the country’s economic ambitions that we had as a result of the well-known events of 2020. We are facing many economic challenges, but we also see many opportunities. Of course, first of all, we must focus on solving humanitarian problems, and on the other hand, we must state that the trilateral statement signed in Moscow on January 11 and its possible implementation can open up new economic opportunities for the Republic of Armenia. We intend to take full advantage of these opportunities, I repeat, not only to restore our economic ambitions, but also to set higher standards.”

Minister of Finance Atom Dzhanjugazyan presented general forecasts about the macroeconomic context and economic development for 2022. He noted that due to the consequences of the coronavirus pandemic and hostilities in Artsakh, it is advisable to start discussing the budget process earlier.

In particular, issues related to the draft state budget for 2022 were discussed during the meeting,, including the development of medium-term expenditure programs for 2022-24, economic policy, the economic growth forecasts, the fiscal framework, as well as recurrent spending and capital expenditures.

The Premier stressed that the quality of programs to be implemented in 2021 will affect the macroeconomic context of 2022, and the government needs to be consistent in ensuring high efficiency in program implementation.