No need of budget sequestration- deputy minister says

No need of budget sequestration- deputy minister says

YEREVAN, June 10. / ARKA /. Armenia’s chief treasurer Atom Janjugazyan has denied today media reports claiming that the government is going to cut its budget and set a hard cap on the amount of spending this year.

Speaking in the parliament he said if there were such plans the ministry of finance would made a public statement and inform the lawmakers. He recalled that the ministry periodically publishes full reports on revenues and expenditures.

Armenia’s 2014 budget calls for 1.135 trillion drams in revenues and 1.245 trillion drams in spending. 

The projected budget deficit is 110 billion drams or 2.3% of the GDP, the current account deficit is 8.6%. ($1 - 412.00 drams). -0-

18:43 10.06.2014

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