Armenian parliament approves report on execution of 2015 budget
13.06.2016,
15:46
The Armenian parliament has approved today a report on the execution of the 2015 state budget. According to official numbers, Armenia’s economy grew last year by 3 percent.
YEREVAN, 13 June. /ARKA/. The Armenian parliament has approved today a report on the execution of the 2015 state budget. According to official numbers, Armenia’s economy grew last year by 3 percent.
‘In 2015 Armenia’s economic expansion was constrained by the influence of adverse developments in the partner countries, the downturn in world metal prices, the decline in private transfers from the Russian Federation, as well as the reducing lending," according to Deputy Minister of Finance Atom Janjughazyan.
The growth was driven by agriculture ( 11.5%), industry (5.2%), services (2.7%) and construction (0.3% growth). Inflation was 3.7%, while the real wages increased by 3.9%.
Budget revenues last year amounted to 1.167 trillion drams, down from projected 1.191 trillion drams; the spending made about 28 percent of the GDP or 1.409 trillion drams. The budget deficit in relation to GDP was 4.8%, against 1.9% in 2014.
The current account deficit narrowed to 2.6% of GDP, improving by 4.6% when compared with the previous year. Foreign trade deficit decreased by $902 million to 10.9% of GDP, while foreign trade turnover amounted to $4.741 billion. slashing by 20.6% from 2014, with exports falling by 3.9% and imports by 26.5%.
The country’s external debt at the end of 2015 stood at 2.088.5 trillion drams ($4.317.3) or 41.4% of GDP against about 1.8 trillion drams ($3.785.2 billion) or 37.1% of GDP in 2014. ($ 1 - 479.16 drams). --0-
‘In 2015 Armenia’s economic expansion was constrained by the influence of adverse developments in the partner countries, the downturn in world metal prices, the decline in private transfers from the Russian Federation, as well as the reducing lending," according to Deputy Minister of Finance Atom Janjughazyan.
The growth was driven by agriculture ( 11.5%), industry (5.2%), services (2.7%) and construction (0.3% growth). Inflation was 3.7%, while the real wages increased by 3.9%.
Budget revenues last year amounted to 1.167 trillion drams, down from projected 1.191 trillion drams; the spending made about 28 percent of the GDP or 1.409 trillion drams. The budget deficit in relation to GDP was 4.8%, against 1.9% in 2014.
The current account deficit narrowed to 2.6% of GDP, improving by 4.6% when compared with the previous year. Foreign trade deficit decreased by $902 million to 10.9% of GDP, while foreign trade turnover amounted to $4.741 billion. slashing by 20.6% from 2014, with exports falling by 3.9% and imports by 26.5%.
The country’s external debt at the end of 2015 stood at 2.088.5 trillion drams ($4.317.3) or 41.4% of GDP against about 1.8 trillion drams ($3.785.2 billion) or 37.1% of GDP in 2014. ($ 1 - 479.16 drams). --0-
