The EU will pay more attention to financial assistance to Armenia: Mark Davis
Exchange rate variations are bothering from the perspective of Armenia’s external debt, as in state debt/GDP ratio only 10% is expressed in Armenian dram. Mark Davis, Head of the Yerevan Resident Office of European bank for Reconstruction and Development (EBRD), told at today’s parliamentary hearing on “Economic component of Armenia’s foreign policy,” said paying attention to the existent fiscal rules.
According to him, when IMF issues its report in a few days, it’ll also include provisions regarding when Armenia will free from state debt burden, however, issues emerge from the perspective of taking a new debt.
M.Davis stated that the EU will pay more attention to financial assistance projects directed to change of the environment, they’ll provide new transit opportunities to the development of the regions.
According to M.Davis EBRD presently allotted a loan of USD 300 million to Armenia, which was directed to the private sector, “We’re paying attention to raising competitiveness, development of capital market and private sector in the field of public service.”
By Gayane Khachatryan
