Armenian government approves draft budget for 2011
30.09.2010,
22:44
The Armenian government has approved today a draft budget for 2011. The decision was made at an out session in Ijevan, the administrative center of Tavush province.
IJEVAN, September 30, /ARKA/. The Armenian government has approved today a draft budget for 2011. The decision was made at an out session in Ijevan, the administrative center of Tavush province.
Finance minister Tigran Davtian said the GDP is projected at 3.763 trillion Drams, by 4.6% more than for 2010. The government has projected to collect 850 billion Drams in revenues and spend 998.4 billion Drams. The projected deficit is 148.6 billion Drams, an equivalent of 3.9% of the GDP, the minister said.
He said also the deficit in 2009 when Armenia was hit severely by economic crisis was 7.5%. It is projected at 6% for 2010, but is expected to lower to 4.8%. He said the industrial growth in 2011 is projected at 4.6%, agriculture at 10% and construction at 2%. The budget will be submitted tomorrow to parliament’s consideration and approval.
Prime minister Tigran Sarkisian noted that the draft budget had been carefully discussed and scrutinized and is in tune with the government’s midterm spending plans.
“When we discussed it with the president of the country we decided to increase the spending by 10 billion Drams and cut the deficit so as to have more room for solving current tasks. Overall, in 2011 we shall have to work hard and a great deal will be depending on how we shall close this year,’ he said.
The 2010 budget calls for 742 billion Drams in revenues and 935.5 billion Drams in spending. The projected deficit is 193.4 billion Drams. -0-
Finance minister Tigran Davtian said the GDP is projected at 3.763 trillion Drams, by 4.6% more than for 2010. The government has projected to collect 850 billion Drams in revenues and spend 998.4 billion Drams. The projected deficit is 148.6 billion Drams, an equivalent of 3.9% of the GDP, the minister said.
He said also the deficit in 2009 when Armenia was hit severely by economic crisis was 7.5%. It is projected at 6% for 2010, but is expected to lower to 4.8%. He said the industrial growth in 2011 is projected at 4.6%, agriculture at 10% and construction at 2%. The budget will be submitted tomorrow to parliament’s consideration and approval.
Prime minister Tigran Sarkisian noted that the draft budget had been carefully discussed and scrutinized and is in tune with the government’s midterm spending plans.
“When we discussed it with the president of the country we decided to increase the spending by 10 billion Drams and cut the deficit so as to have more room for solving current tasks. Overall, in 2011 we shall have to work hard and a great deal will be depending on how we shall close this year,’ he said.
The 2010 budget calls for 742 billion Drams in revenues and 935.5 billion Drams in spending. The projected deficit is 193.4 billion Drams. -0-
