YEREVAN, October 29. /ARKA/. Armenia’s state machine spending will increase by 10.9 billion drams under the 2014 draft government budget, deputy minister of finance Pavel Safaryan said during budget hearings in the parliament.
In 2013 the machine expenditures were 14.7 billion drams.
The spending increased mainly due to increased salaries, the deputy minister said. Some 9.5 billion drams have been appropriated for this, he said. The remaining 1.4 billion drams will be spent on increased electricity prices.
Safaryan stressed the share of the state machine expenditures in GDP remained unchanged – 5.8%.
Consolidated budget revenues are 1 trln 134bln drams and on-budget expenditures are 1trln 244 mln drams under the 2014 draft government budget. Deficit is 110bln drams. Real GDP growth is planned at a level of 5.2% and 12-month inflation at 4% (±1.5%). ($1=405.76drams). –0--