Pensions to be increased by 3 thousand drams in Armenia by the project of the state budget for 2012 – Finance Ministry
30.09.2011,
00:48
The project of state budget of Armenia for 2012 envisages increase of pensions by 3 thousand drams - to 31.3 thousand compared to the current 28.4 thousand drams, said first Deputy Minister of Finance Pavel Safaryan in the government meeting on Thursday.
YEREVAN, September 29. /ARKA/. The project of state budget of Armenia for 2012 envisages increase of pensions by 3 thousand drams - to 31.3 thousand compared to the current 28.4 thousand drams, said first Deputy Minister of Finance Pavel Safaryan in the government meeting on Thursday.
“The number of social benefits will also increase by 2.7 thousand drams which will make 29.5 thousand drams. Expenses of social sphere will be increased, particularly on the account of tax entries to the budget”, said Safaryan.
Weighted average of tax entries to GDP will be about 17. 4%. “Over 96% of income of state budget (910 billion drams) are tax collections. It is rather high indicator meaning that the main part of the expenses is implemented on the account of internal resources”, he said.
Prime Minister of Armenia Tigran Sargsyan said that additional funding will also allow to increase the size of pensions in the country which will be provided by European Union, World Bank and International Monetary Fund in case of successful implementation of government programs.
“In 2012 we will reform the salaries for the first time and provide civil servants social welfare packages which will allow them to pay percents of mortgage loans, cover healthcare expenses through insurance policies and pay for education of children in schools and universities”, said Sargsyan.
From introduction of this project, first of all civil servants with low salaries will benefit.
“But we should not forget that all these measures require additional expenses. This necessity insists us to increase the ratio of taxes to GDP”, he said.
Armenian ministry of finance sent yesterday a draft budget for 2012 to the Cabinet’s consideration. It calls for 910 billion drams in revenues and 1.042.5 trillion drams in spending. The projected deficit is 132.5 billion drams.
According to the statement, the amount of revenue is projected to increase by 6.8% from this year’s budget (852.4 billion drams). The spending is expected to grow by 41.5 billion drams. Some 86.1% of the spending (897.8 billion drams) is projected as current expenditure; 13.9% or 144.7 billion drams are projected as net non-financial expenditure. Some 46.2% are projected as social spending (education, health, social security), 19.8% as defence, public order and national security spending, 13.2% are planned for economic boost, 4.5% are projected to pay off Armenia’s state debt. Besides, 3.1 % of the blueprint budget is projected as official grants to communities and 2% as government reserve fund).
In the result of the checks by Social Welfare Ministry, the database of pensioners in Armenia reduced by 6 thousand people making about 514 thousand pensioners. Average size of pension in Armenia is about 28 thousand drams. ($1 – 370.38 drams). -0-
“The number of social benefits will also increase by 2.7 thousand drams which will make 29.5 thousand drams. Expenses of social sphere will be increased, particularly on the account of tax entries to the budget”, said Safaryan.
Weighted average of tax entries to GDP will be about 17. 4%. “Over 96% of income of state budget (910 billion drams) are tax collections. It is rather high indicator meaning that the main part of the expenses is implemented on the account of internal resources”, he said.
Prime Minister of Armenia Tigran Sargsyan said that additional funding will also allow to increase the size of pensions in the country which will be provided by European Union, World Bank and International Monetary Fund in case of successful implementation of government programs.
“In 2012 we will reform the salaries for the first time and provide civil servants social welfare packages which will allow them to pay percents of mortgage loans, cover healthcare expenses through insurance policies and pay for education of children in schools and universities”, said Sargsyan.
From introduction of this project, first of all civil servants with low salaries will benefit.
“But we should not forget that all these measures require additional expenses. This necessity insists us to increase the ratio of taxes to GDP”, he said.
Armenian ministry of finance sent yesterday a draft budget for 2012 to the Cabinet’s consideration. It calls for 910 billion drams in revenues and 1.042.5 trillion drams in spending. The projected deficit is 132.5 billion drams.
According to the statement, the amount of revenue is projected to increase by 6.8% from this year’s budget (852.4 billion drams). The spending is expected to grow by 41.5 billion drams. Some 86.1% of the spending (897.8 billion drams) is projected as current expenditure; 13.9% or 144.7 billion drams are projected as net non-financial expenditure. Some 46.2% are projected as social spending (education, health, social security), 19.8% as defence, public order and national security spending, 13.2% are planned for economic boost, 4.5% are projected to pay off Armenia’s state debt. Besides, 3.1 % of the blueprint budget is projected as official grants to communities and 2% as government reserve fund).
In the result of the checks by Social Welfare Ministry, the database of pensioners in Armenia reduced by 6 thousand people making about 514 thousand pensioners. Average size of pension in Armenia is about 28 thousand drams. ($1 – 370.38 drams). -0-
