President: Armenia’s new government should ensure stable economic development

President: Armenia’s new government should ensure stable economic development

YEREVAN, June 18. /ARKA/. Armenia’s new government first of all should ensure stable development to the country’s economy and a right ratio of taxes to GDP, Armenian President Serzh Sargsyan said Wednesday in an interview with the Armenian Public Television. 

In the 2014 government budget, economic growth is projected at 5.2% and inflation at 4% (±1.5%).
The finance ministry says taxes-GDP ratio in the government budget rose from 16.2% in 2006 to 23.4% in 2013. 

According to preliminary statistical reports, an average nominal monthly salary in Armenia was AMD 163,620 (395 US dollars or 14,093 Russian rubles) in April 2014 - 1.5% higher than March’s average salary.  

Sargsyan said that after talking to the new Cabinet ministers he came to conclusion that they understand very well the importance of the commitments they have assumed. 

“I already see signs of the government’s future successful work,” he said in his interview.   
The president stressed that certain time is needed to see the results of this work.  

On May 3, the president completed the new government composition process started on April 13 by appointing Parliament Speaker Hovik Abrahamyan to the post of the prime minister to replace Tigran Sargsyan, who resigned on April 3. ($1 – AMD 411.51). --0-----  

17:15 18.06.2014

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