The Armenian government made a significant decision during its Cabinet meeting by approving a budget loan agreement with the French Development Agency. This agreement, set to be signed on June 26, will provide Armenia with a loan of 75 million euros under the budget support program.
The purpose of this budget support loan is to fund the deficit outlined in the 2024 state budget law of Armenia. Securing this loan in a timely manner is crucial for funding the expenses allocated in various categories of the country’s 2024 state budget.
This move highlights Armenia’s commitment to managing its finances efficiently and ensuring the smooth implementation of its budget plans. By partnering with the French Development Agency, Armenia aims to strengthen its financial stability and support its economic development goals.