Armenian pension budget to grow up to 10.9bln drams in 2014
04.11.2013,
11:45
Budget spending on pension will amount to 10 billion 938 million drams in Armenia for 2014, an increase of 10.9% compared to the 2013 level, Armenia’s deputy minister of finance Pavel Safaryan said at the budget hearings in the parliament Friday.
YEREVAN, November 4. /ARKA/. Budget spending on pension will amount to 10 billion 938 million drams in Armenia for 2014, an increase of 10.9% compared to the 2013 level, Armenia’s deputy minister of finance Pavel Safaryan said at the budget hearings in the parliament Friday.
The reasons for the increase are both the increased number of pensioners and increase in the pension size. There are today 53,000 pensioners in Armenia as compared to 50,700 in 2013.
The government intends to increase pensions by 15 on average in 2014, which means average pension will go up from 31,300 drams in 2013 to 36,000 drams in 2014, the deputy minister said.
Both the base part (from 13,000 to 14,000 drams) and years of service calculation (from 450 drams to 540 drams over the year) are to increase.
Total pension spending will increase by 16.8% in 2014 compared to 2013.
Armenia’s 2014 budget receipts are 1 trln. 134 bln drams, expenditures are 1 trln 244 bln drams and deficit is 110 bln drams. Real GDP growth under the 2014 budget is planned to be 5.2% and inflation is at 4% (±1.%) ($1=405.26 drams). --0--
