IMF Delegation Negotiates With Armenian Government

YEREVAN (Noyan Tapan)–On March 13–Prime Minister Aram Sargsyan received an IMF delegation led by IMF European Division Vice-Director Thomas Wolf.

The sides discussed the economic situation in Armenia and the course of negotiations conducted with the US Government.

Wolf positively assessed the current course of the negotiations–saying that there are problems–but solutions are inevitable. Wolf positively assessed the tendency towards maintaining the stable level of inflation. The sides also discussed problems connected with the revenue pattern of Armenia’s budget–higher levels of tax collection and means for a pension fund. They attached importance to structural adjustment and normal development of the privatization process.

Speaking of ways to raise tax collection–Sargsyan pointed out that it can be achieved through tougher administration which will make it possible to broaden the taxation basis. As to the tax burden–the premier expressed confidence that it should be stable.

The prime minister also said that the funds formed as a result of privatization should be directed as produced–the resumption of enterprises will fill both the state budget and the pension fund.

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