Armenia Transitioning from Low-Income to Middle-Income Country, Says Jangouhazyan

This year, for the first time, state debts have been secured exclusively through programmatic means, rather than for budget financing. Finance Minister Atom Jangouhazyan announced this today in the National Assembly.

According to the minister, these loans are also granted under preferential conditions.

He recalled that previously, Armenia was classified among low-income countries, but now it is considered middle-income.

“We are confident that we are tired of being a middle-income country, and our goal is to be classified among high-income countries,” Jangouhazyan stated.