Government budget deficit in q1 drops to 8.2 billion drams

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Economy

03.04.2010, 02:14

Armenian government budget deficit in Q1, 2010 dropped to 8.2 billion Drams, down significantly from the projected 32.6 billion Drams, prime minister Tigran Sarkisian said at Thursday government session, adding that this will have a slight restraining imp

YEREVAN, April 2, /ARKA/. Armenian government budget deficit in Q1, 2010 dropped to 8.2 billion Drams, down significantly from the projected 32.6 billion Drams, prime minister Tigran Sarkisian said at Thursday government session, adding that this will have a slight restraining impact on inflationary pressures.

According to the prime minister, the government had planned an 180 billion Drams spending for Q1 , but spent actually 167 billion Drams. The saved funds will have a positive impact on curbing the inflation rate, he said.

According to the official figures of the National Statistical Service, the consumer price index in the first quarter of this year was up by 8.4 percent from the same period in 2009, nearly twice exceeding a full-year maximum inflation target set by the authorities, being dragged primarily up by double-digit increases in the prices of various services, fuel and other consumer goods. -0-

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