Armenian parliament approves draft budget for 2021
10.12.2020,
15:16
By a vote of 84 to 14 Armenia's parliament has approved today the bill on the state budget for 2021.
YEREVAN, December 10. /ARKA/. By a vote of 84 to 14 Armenia's parliament has approved today the bill on the state budget for 2021. In fact, the draft budget has been endorsed by lawmakers from the ruling My Step alliance.
The opposition Prosperous Armenia did not participate in the voting, and the second opposition party Bright Armenia voted against.
According to Minister of Finance Atom Janjughazyan, the draft budget calls for 1 trillion 509 billion drams in revenue.
According to him, the spending has been raised from 1 trillion 843 billion drams to 1 trillion 850 billion drams because of the change in the exchange rate of the national currency dram and because of increased cost of servicing the state debt.
“As for the budget deficit, it rises from 274 billion drams (4.1% of GDP) to 341 billion drams or 5.3% of GDP. In fact, the ratio of deficit to GDP in 2020 was projected at 2.3%, but we expect it to be 7% at the end of the year, despite the fact that in 2019 we managed to reduce this indicator to 1% of GDP ”, Janjughazyan said.
The draft budget for 2021 project 3.2% economic growth while inflation is set at 4% (± 1.5%). ($ 1 - 515.48 drams). –0--
The opposition Prosperous Armenia did not participate in the voting, and the second opposition party Bright Armenia voted against.
According to Minister of Finance Atom Janjughazyan, the draft budget calls for 1 trillion 509 billion drams in revenue.
According to him, the spending has been raised from 1 trillion 843 billion drams to 1 trillion 850 billion drams because of the change in the exchange rate of the national currency dram and because of increased cost of servicing the state debt.
“As for the budget deficit, it rises from 274 billion drams (4.1% of GDP) to 341 billion drams or 5.3% of GDP. In fact, the ratio of deficit to GDP in 2020 was projected at 2.3%, but we expect it to be 7% at the end of the year, despite the fact that in 2019 we managed to reduce this indicator to 1% of GDP ”, Janjughazyan said.
The draft budget for 2021 project 3.2% economic growth while inflation is set at 4% (± 1.5%). ($ 1 - 515.48 drams). –0--
