IMF: Armenia's 2025 budget well-balanced

YEREVAN, December 18. /ARKA/. Armenia's 2025 state budget is appropriately balanced between maintaining macroeconomic stability and addressing priority expenditures, including refugee integration and high security spending, according to IMF Deputy Managing Director and Acting Chairman Bo Li.

"In the medium term, gradual fiscal consolidation will be crucial for maintaining fiscal sustainability," he said.

Li's statement noted that the planned measures include strengthening revenue collection, setting spending priorities, and adopting a medium-term expenditure framework.

"Progress in public financial management reforms is essential to reducing fiscal risks, particularly those associated with state-owned entities, public-private partnerships, and government guarantees," he said.

In the state budget of Armenia approved on December 4, the state budget revenues amount to 2.84 trillion drams, and expenditures total 3.4 trillion drams (of which 2.7 trillion drams are current expenditures, and 734 billion drams are capital expenditures). The deficit is 604 billion drams. Economic growth is projected at 5.1%, with average inflation at 3.5%. The government debt-to-GDP ratio is forecasted at 54.3%. ($1 = 394.59 drams)