YEREVAN, JANUARY 25, NOYAN TAPAN. 2009 was a difficult year, but we managed to carry out the tasks given to us and to withstand the global financial and economic crisis, Armenian Minister of Finance Tigran Davtian told a press conference held at the government on January 23. In his words, under conditions of the crisis it was important to ensure macroeconomic stability in the country, and the government succeeded in that. In particular, all budget processes were ensured, and all social obligations programmed before the crisis were fulfilled. The minister said that in conditions of a decline in revenues last year, the government conducted a policy of expansion: more state resources were attracted into the economy, thanks to which Armenia overcame all the existing difficulties. In addition, last year reforms were carried out in prize game, tax and some other sectors to improve financial discipline there. Speaking about work to be done in 2010, T. Davtian said that Armenia will start solving the problems to be dealt with before the crisis. Particularly, this year they will return to measures aimed at ensuring economic growth, it is also planned to return to medium-term budgeting which was stopped due to the crisis. Strict control of off-budget expenses will be established this year. The accounts of the Program Implementation Offices will be transferred from commercial banks to the RA treasury system. "The Program Implementation Offices implement programs at the expense of loans which are budgetary resources, and they are not under efficient control in case of opening accounts in commercial banks. It is necessary to transfer these accounts to the treasury system," the minister stated. T. Davtian considered a 7.4% deficit as possible this year, adding that it may decline in case of implementation of necessary work.

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