Finance Minister says money allocated to Artsakh as interstate loan to be used for various projects

The Armenian government will direct the money allocated to Nagorno-Karabakh as an interstate loan to the launch of various projects next year, Finance Minister Vahe Hovhannisyan said at the National Assembly meeting, presenting the draft of the 2024 state budget.

The minister noted that the draft budget was presented late in September amid the forced displacement of our compatriots from Nagorno-Karabakh, and the draft does not include the full range of measures and programs that the government is going to launch in 2024.

“It is true that this version of the budget is presented with a deficit of 3.2 percent of the GDP, but we assume that this deficit will increase to 4.6 percent in 2024 to be able to take all these measures. This will not add any additional fiscal burden on us because, according to our assumptions, the money that was allocated to Nagorno-Karabakh as an interstate loan will be able to be used to launch various projects. We hope that these funds will be enough for that,” Hovhannisyan said.