Armenia plans to increase funding for its Ministry of Foreign Affairs and International Trade by approximately 3.4 billion drams in 2027, bringing its total budget to 22.515 billion drams.
Finance Minister Vahe Hovhannisyan presented the figures during a joint meeting of the National Assembly’s standing committees, Armenpress reports.
Of the ministry’s proposed budget, 480 million drams will be allocated to capital expenditure.
Hovhannisyan also outlined infrastructure and development programs planned for 2027 with support from European Union countries and institutions.
The programs have a combined budget of 41.809 billion drams, including 7 billion drams in government co-financing and approximately 34 billion drams from external institutions.
They cover irrigation system rehabilitation, solid waste management, road improvements, water supply and wastewater treatment, urban and regional development, modernization of border checkpoints, and energy efficiency.
The finance minister also announced approximately 41 billion drams in funding for projects implemented in cooperation with the Eurasian Economic Union (EAEU), with the entire amount intended for road infrastructure.
According to Hovhannisyan, construction of the Kajaran–Agarak road and tunnel will be financed through a loan program, with 19 billion drams in financing and 21 billion drams in government co-financing.
