Tuesday, 27 March 2012
PM Receives Head Of IMF Armenia Mission
Prime Minister Tigran Sargsyan received a delegation led by Head of International Monetary Fund (IMF) Armenia Mission Mark Horton.
The parties discussed the main directions of Armenia’s economic policy and the country’s economic outlook.
Mark Horton briefed the Prime Minister on the pace of the Fund’s three-year-long “Extended funding” and “Extended Lending” programs and the Mission’s program performance-related findings.
”I think we realized an excellent mission as we were able to achieve the targets set before us. The program performance was high according to the results of 2011, and excellent in terms of State budget indicators. Exceptional are the steps aimed at improved targeting of social spending and they are to be welcomed. I should also hail the government’s performance in ensuring the needed reserves which is fully secured,” Mark Horton said. The IMF was said ready to continue supporting Armenia in meeting the challenges ahead.
”We are pleased to hear that the program performance is highly appreciated by the Fund. Our chief task ahead is to improve the situation with private investments through the government’s new industrial policy,” Tigran Sargsyan stated.
Mark Horton complimented the Prime Minister in connection with the National Assembly approval of the ambitious package of tax reforms for 2012. The head of the IMF mission hailed the State Revenue Committee’s ongoing efforts toward simplifying tax administration in Armenia.
Mark Horton welcomed the launch of the “Regulatory Guillotine” program, as well as the government’s reforms in the social sphere and in the pension system, in particular.
In this context, Tigran Sargsyan pointed out that the pension reform is one of his government’s priorities. A personal record system is to be introduced in 2012 in transition to the mandatory savings funds.
A wide range of bilateral cooperation-related issues have been discussed during the meeting.
