Armenian parliament upholds 2016 government budget execution report
07.07.2017,
13:47
The majority of the Armenian National Assembly upheld Friday the report on the 2016 government budget execution.
YEREVAN, July 7. /ARKA/. The majority of the Armenian National Assembly upheld Friday the report on the 2016 government budget execution.
Vardan Aramyan, finance minister, presenting the report to the lawmakers, said economic growth was projected in the budget at 2.2%, but actually it stood at 0.2% in 2016.
In his words, transfers from Russia have shrunk 38.4% or by $830 million over that year.
“It was projected in the government budget that revenue will amount to AMD 1 trillion 186 billion and spending to AMD 1 trillion 377 billion with AMD 190.7 billion deficit, which makes up 4% of GDP, but the expansionary monetary policy pursued amid adverse developments resulted in the revenue totaling AMD 1 trillion 171 billion, spending AMD 1 trillion 499 billion and deficit AMD 278 billion,” he said.
Aramyan said that the taxes-GDP ratio was planned to be 20.7%, but the actual indicator stood at 21.3%.
Although the revenue performance was poor, he said, all the programs planned in the budget have been implemented, including spending in defense and social sectors.
Speaking about the country’s public debt, Aramyan said that it has reached $5.9 billion by the end of 2016 stressing that Armenia has not come close to a dangerous level so far. ($1 – AMD 479.82). --0--
Vardan Aramyan, finance minister, presenting the report to the lawmakers, said economic growth was projected in the budget at 2.2%, but actually it stood at 0.2% in 2016.
In his words, transfers from Russia have shrunk 38.4% or by $830 million over that year.
“It was projected in the government budget that revenue will amount to AMD 1 trillion 186 billion and spending to AMD 1 trillion 377 billion with AMD 190.7 billion deficit, which makes up 4% of GDP, but the expansionary monetary policy pursued amid adverse developments resulted in the revenue totaling AMD 1 trillion 171 billion, spending AMD 1 trillion 499 billion and deficit AMD 278 billion,” he said.
Aramyan said that the taxes-GDP ratio was planned to be 20.7%, but the actual indicator stood at 21.3%.
Although the revenue performance was poor, he said, all the programs planned in the budget have been implemented, including spending in defense and social sectors.
Speaking about the country’s public debt, Aramyan said that it has reached $5.9 billion by the end of 2016 stressing that Armenia has not come close to a dangerous level so far. ($1 – AMD 479.82). --0--
