Armenia’s government approves 16.5% of proposals for 2013 budget

YEREVAN, December 5. /ARKA/. Armenia’s government accepted 67 out of 406 proposals for 2013 budget presented by the deputies, Finance Minister Vache Gabrielyan said Tuesday. 

“The volume of additional revenues of the budget totaled 137.6 billion drams, the expenditures- 411 billion drams within the frames of the proposals,” he said. 

Education expenditures were proposed to increase by 10 billion drams, social insurance- by 196 billion drams, culture – 1 billion drams, healthcare- 6 billion drams, science- 67.4 billion drams, economic sectors- nearly 44 billion drams, agriculture- 14.5 billion drams, increase in public servants’ salary- 76 billion drams. 

“Following the discussion, the government approved 67 proposals, of them 48 referred to education, 7-economy, 2- healthcare and science each. The government clearly explained its decision for 207 proposals, and rejected 132 proposals,” he noted.

Armenia’s government recommends to increase the 2013 budget expenditures and revenues by 1.2 billion drams each

“The changes in the expenditures refer to the subsidy, particularly we are subsidizing Metro, electric transport and Armvodokanal (Armenian water canal). Moreover, as a result of the redistribution of the funds we will increase the expenditures by 1.5 billion drams supposed for providing housing and improving housing conditions for the families of the killed military servants and military servants with the first, second and third degree disabilities,” the minister said.

As a result of the recalculation of the exchange rate input into the budget, the revenues from the official grants are recommended to be increased by nearly 288.6 million drams. Moreover, the EU is expected to implement a new grant investment project in Armenia.

“Grant programs and some other revenues total 763 million drams,” he said.

Revenues from the taxes and state duties are also raised by 177 million drams, according to the finance minister.

The revenues of the consolidated budget are supposed to account 1 trillion 31 billion drams, the expenditures- 1 trillion 151 billion drams, and the deficit- 120 billion drams or 2.6% of the GDP. Revenues from taxes and duties are anticipated at 992.9 billion drams, which is 118.6 billion higher from 2012. The rate of a twelve-month inflation is projected at 4±1,5%, and GDP-at 6.2%. The deficit financing will stand at 119.8 billion drams due to the net revenues from both, domestic and foreign sources, at 55.2 and 64.6 billion drams. ($1 – 407.16 drams). -0-