Armenian government’s Reserve Fund currently holds 50 billion drams

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Economy

30.10.2024, 11:54

The Armenian government’s Reserve Fund currently holds 50 billion drams, and a decision has been made to refrain from spending these funds, according to Finance Minister Vahe Hovhannisyan.

Armenian government’s Reserve Fund currently holds 50 billion drams

YEREVAN, October 30. /ARKA/. The Armenian government’s Reserve Fund currently holds 50 billion drams, and a decision has been made to refrain from spending these funds, according to Finance Minister Vahe Hovhannisyan.

He shared this update during a discussion on the draft state budget for 2025.

"The government's Reserve Fund for 2024 was 134 billion drams, while the draft 2025 budget allocates 110 billion drams. These funds are not only for unforeseen expenses but also for managing various types of risks, with 95 billion drams planned specifically for these purposes," said he.

"He also noted that there is also the Stabilization Account currently containing approximately 110 billion drams, which can serve as a safety cushion against unforeseen risks." (Exchange rate: $1 = 387.06 drams). -0-

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