YEREVAN, November 4. / ARKA /. Armenia’s 2014 draft budget sets aside 2.4 billion drams for the economy ministry. The figure was voiced by Minister Vahram Avanesyan at a parliament discussion today on next year’s budget.
The figure is by 550 million drams more than the ministry has for this year. Some 20 million drams of that amount will be used to insure five exporting companies, the minister said.
"At first glance this amount does not seem to be large, however, it will allow us to subsidize a total of 2 billion drams worth loans,” he said.
Overall, some 570 million drams are to be used to stimulate exports. He said part of the money -131 million drams- will be used to support 10 export presentations in Armenia. Also 130 million drams are earmarked to finance organization of presentation of Armenian products at various international exhibitions.
Avanesyan also said 30 million drams will be used to minimize the expenses of Armenian companies that will seek international certification. Also 68 million drams are expected to be given to development of Technology Park in Gyumri.
The government plans to collect next year 1. 134 trillion drams in revenue and spend 1.244 trillion drams. The projected deficit is 110 billion drams. The GDP is projected to grow by 5.2 % and the 12-month inflation rate is planned at 4 % (± 1.5%). ($1 – 405.26 drams) -0-