Yerevan
Tbilisi
Moscow
Paris
Los Angeles
Beijing
English
Հայերեն Русский
Main Timeline Video Share
May the Holiday Warm Hearts: Idram and IDBank Support the Children of Heroes Beneficiaries of the "By Your Side" program at IDBank AraratBank Named Large CSR Company of the Year Idram Joins the Fight Against Food Insecurity Ucom’s Renovated Sales and Service Center in Yerevan Mall Reopens 1% idcoin instead of New Year’s suffering: practical tips Idram Junior Donated Books to Schools Big Christmas Market with Idram, IDBank and idplus Ucom Supports Wildlife Monitoring in Ararat Region IDBank, Idram, and idplus at the Big Christmas Market Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board Ucom and SunChild NGO Install a Solar Plant in Alaverdi Kindergarten
Timeline
The Power of One Dram April Beneficiary: Davitbek Games NGOUcom and Impact Hub Yerevan Announce the Third Year of Green Innovation FellowshipUnibank Launches Referral Campaign “Invite Friends and Get Bonuses"Team Holding: The second phase of the placement of USD-denominated bonds has been completed. Underwriter - Freedom Broker Armenia. “A friend” needs money urgently. IDBank warns that trust can be exploited on social media.Denationalizing the ‘Map’ (Reflections on the ‘Real Armenia Ideology’)AraratBank at Leasing EXPO 2026: Special Leasing Offer for Energy-Efficient EquipmentUcom Offers Virtual Cloud Server (VPS) ServiceIDBank Participates in Regional Conference of the Union of Banks of Armenia, Presenting Innovative Tools for the SME SectorUp to 25% idcoin When Buying Airline Tickets with IDBank Premium CardsAcba bank and the U.S.-based Interactive Brokers have signed an agreementIDBank and Idram Alongside the “Matemik” NGOIDBank Participates in Regional Conference of the Union of Banks of ArmeniaConverse Bank Receives STP Excellence Award Once AgainUnibank to participate in Leasing Expo 2026 with a special offerAraratBank in Lori: Competitive Solutions for Business and Economic DevelopmentIDBank to Provide Scholarships Worth 35 Million Drams to 103 Artsakh Students at YSUUnibank joins the Partnership for Carbon Accounting Financials (PCAF)Safe environment – Equal opportunitiesAraratBank Receives STP Excellence Award from Commerzbank AG
All Timeline »
Economics

Armenia government approves 2020 budget execution, national debt reaches 63.5% of GDP

YEREVAN. – At Thursday’s Cabinet meeting, the government of Armenia approved the report on the implementation of the 2020 state budget. It will now be submitted to the National Assembly.

Accordingly, the 2020 state budget of Armenia was 1,560,655,340.800 drams in revenues, 1,894,647,093.400 drams in expenditures, and the budget deficit was 333,991,752.600 drams.

Minister of Finance Atom Janjughazyan presented the report, and noted that in case of a 2.9% growth in world economy in 2019, a 7.6% growth was registered in Armenia, which enabled to review the budget expenditures, and several allocations had increased in 2019.

The Minister noted that the Armenian government's debt-to-GDP ratio was below 50% at the end of 2019, which enabled to maintain—by assuming new debts—the logic of fiscal policy in 2020 during the crisis. "The level of [national] debt with the results of 2020 was 63.5% of the GDP," he added.

Also, Janjughazyan stated that the crisis situation in Armenia in 2020 was comparable—in terms of numbers—compared to developing countries.