The Chief of International Monetary Fund Mission to Armenia Mr. Hossein Samiei said that the IMF supports the government of Armenia for fiscal policy change in our country. In other words, the IMF positively evaluates the new Tax Code.
To the question, whether it means that the rule prevents new debt attraction and it needs to be changed, Mr. Samiei answered – he did not mean the government should have greater debts, which will reach the level that we cannot repay them: “I mean, it should be so that it protects economic growth in difficult conditions and at the same time provides a tolerable level of public debt. There should be flexibility for challenging times, and opportunity for compensation for better times.” Let us recall, that the public debt has exceeded the threshold of $6 billion. Referring to the level of public debt and its servicing, Mr. Samiei said that the level of debt is increasing, and the government needs to act so that it does not become intolerable.