Recent Economic Developments in Armenia

Recent Economic Developments in Armenia

Budget for the Armenian Foreign Ministry in 2023 was cut

According to Armenian Finance Minister Tigran Khachatryan, the budget for the Armenian Foreign Ministry was cut by almost EUR 4.8 million from the budget for the current year.

According to him, the Ministry would get a total budget of EUR 41.7 million from the draft state budget, which is less than the EUR 46.5 million expected for this year and the EUR 43.1 million projected for 2021.

According to Foreign Minister Ararat Mirzoyan, only EUR 41.7 million drams of the ministry's requested EUR 48.7 million. He clarified that currency swings had a major role in the discrepancy.

Armenia expects progress in visa-free talks with the EU in 2023

On November 3, Paruyr Hovhannisyan, the Deputy Minister of Foreign Affairs of Armenia, said that Armenia anticipates some progress in negotiations with the EU on a visa-free regime in 2023.

He explained to the legislature that the "crisis" between Russia and Ukraine increased the migration risk and that certain EU members are being cautious about the matter and have slowed down the process.

"The matter is still on our agenda. Although the situation remains less than ideal, I believe that some progress will be made in the upcoming year," he said.

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