Armenia fully ready to cooperate with EU within the frames of reform agenda, says Pashinyan

The European Union is ready to support programs in a number of sectors in Armenia. These concern infrastructure development, water reservoir construction, near two dozen water reservoirs are expected to be constructed in Armenia, as well as road construction, police, judicial reforms, energy development, the process of forming an energy corridor, education and tax administration reforms, Prime Minister of Armenia Nikol Pashinyan told reporters during today’s press conference in Matenadaran.

“We are fully ready to cooperate within the frames of the whole agenda of reforms. The EU leaders also expressed readiness to assist the implementation of all these programs. Here there is one recording: the EU is ready to provide serious support to the programs, but we all understand that it will not finance these programs at once. Armenia also must have its investment. But here we face a problem in connection with the legislative restrictions on state debt”, Pashinyan said. “Armenia’s state debt cannot exceed certain percent of GDP.

At this moment the most visible source for Armenia’s investment is the foreign funding which can lead to increase of the state debt volume. And now we must hold a serious discussion whether we are ready to go on this path. We will have a discussion with the Central Bank in the coming 20 days to observe these issues”, the Armenian PM said.