Armenia asks EU partners to create buffer fund to secure macroeconomic stability

PanARMENIAN.Net - Armenian Prime Minister Tigran Sargsyan said that as part of implementation of reforms in tax and customs administration, Armenia asked EU partners to create a buffer fund to secure macroeconomic stability, if problems arise during taxes collection.

It was agreed that the matter will be discussed with European experts and the reforms program in Armenia will be presented to them, Sargsyan told a joint press conference with EU Commission President Jose Manuel Barroso on March 15 in Brussels. Sargsyan said that EU-Armenia cooperation is successful, adding that the Armenian delegation's visit to Brussels is aimed at giving a new impetus to the bilateral cooperation.

According to him, the damage caused by the global financial crisis to Armenia's economy and reforms was discussed. "EU's support has considerably helped us in withstanding this trial," Sargsyan said, adding that Armenia will achieve success in all fields in 2011 and be ready to launch negotiations on comprehensive agreement.

For his part, Barroso promised to provide assistance to Armenia. "Our teams will work jointly and outline the fields, which need a technical assistance," he said.

Referring to a financial aid, Barroso said that similar assistance was provided to the Republic, and since Armenia faces macroeconomic challenges, the EU will consider the aid expansion.