ArmInfo.Thanks to various government assistance programs in the amount of about 200 billion drams, Armenia was able to maintain macroeconomic stability in 2020. This was stated by the MP from the "My Step" faction Gevorg Papoyan on April 20 during a briefing.
In particular, he said, contrary to forecasts of a double-digit economic downturn by the end of 2020, Armenia closed the economic year with a decline of 7.6%. In addition, after the war, Armenia was able to issue another Eurobond at an unprecedented low rate of 3.6%." In January-February, compared to the previous year, tax revenues to the budget increased, in particular, exceeded the planned figure by 8%, the month of March is also encouraging, which indicates a rapid economic recovery, " the MP said.
At the beginning of 2021, Armenia placed the 4th issue of 10-year debt securities in the amount of $750 million among international investors. The established annual yield of bonds of the 4th issue was lower than the yield of the 3rd issue-3.875% against 4.625%. According to the Bloomberg information system, investors ' demand for Armenian debt securities exceeded $ 2.5 billion. The initial benchmark yield of Eurobonds to maturity in February 2031 was 4.375-4.5% per annum. The main underwriters of the 4th tranche were City Bank, J. P. Morgan Securities plc. and HSBC Bank Plc.
It should also be noted that despite the fact that during the government meeting, the head of the RA Cabinet of Ministers and the State Revenue Committee announced an excess of the planned tax collection by 22 billion drams, in fact, as it turned out, in the first quarter of this year, Armenia "collected" 16.1 billion drams, or 4.6% less than in the same period in 2020. Thus, in January-March 2021, the tax revenues of the state treasury amounted to 332.9 billion drams, against the planned 305 billion drams, taking into account excise payments of 5.6 billion drams, the tax plan was exceeded by 22.3 billion drams. Meanwhile, for the same period last year, the state budget's tax purse amounted to 349 billion drams.
