Armenian parliament approves government’s 2022 budget

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Economy

09.12.2021, 11:16

By a vote of 65 to 19 and one abstention Armenia’s National Assembly has approved today the government’s budget for 2022.

Armenian parliament approves government’s 2022 budget

YEREVAN, December 9. /ARKA/. By a vote of 65 to 19 and one abstention Armenia’s National Assembly has approved today the government’s budget for 2022.

The budget calls for 1 trillion 947.8 billion drams in revenue (a 17% rise compared to 2021), and for 2 trillion 184 billion drams in spending (a 10% rise compared to 2021). The budget deficit is projected at 236.2 billion drams.

The GDP is projected to grow by 7% in 2022. Capital spending will amount to 352 billion drams or 4.5% of the GDP.

According to the state budget, the 2022 spending will make 27.7% of GDP, current expenditures - 23.2% and capital expenditures - 4.5% of GDP. Tax revenues are envisaged at 1 trillion 844 billion drams (by 263 billion drams or 16.5% more than in 2021).

The public debt is expected to reach 4 trillion 741 billion drams (60.2% of GDP in 2022). Foreign debt is projected to make 69% of the total national debt and domestic debt - 31%. The budget earmarks 214 billion drams (9.8% of budget expenditures or 2.7% of GDP in 2022) for repayment of the debt. ($1 - 493.81 drams). -0-

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