Armenian Government Has Reliable Instruments For Controlling Risks I


Dec 11, 2009

YEREVAN, December 11. /ARKA/. Armenian government has reliable
instruments for controlling risks in 2010, Prime Minister Tigran
Sargsyan said Thursday in National Assembly.

Armenian parliament passed the 2010 state budget bill on Thursday.

Under the state budget, the revenue will amount to AMD 935.5 billon
and expenses will total AMD 193.4 billion in 2010.

The 2010 state budget deficit is planned at AMD 193.4 billion,
economic growth at 1.2% and inflation 4±1.5%.

The premier said that the state budget contains some risks.

He said that the government has created a stabilization fund at the
central bank for controlling these risks.

This fund has been made up of the remaining account balance and the
EU-pledged extra ~@100 million.

"It means we have reliable instruments for controlling risks in 2010,
and this inspires hope that we’ll be able to overcome challenges of
2010," Sargsyan said.

He stressed that lawmakers’ proposals that haven’t been included in
the state budget will be within the government’s focus and some of
them will be discussed. "Despite the parliament gave us permission
not to ground state budget expenses on a mid-term program, we took
into account its key proportions in composing the budget. In this
connection, all the members of the government have been instructed
to work out a mid-term program, taking into account the current

Sargsyan said that in discussions, legislators showed special interest
in defense financing, financing assistance for Karabakh, compensations
on deposits in Savings Bank and spending of out-of-budget funds.

"I want to say that the defense ministry and Karabakh will have their
financing enlarged in 2010, compared with 2009," he said. "The funds
intended for compensation on deposits have been enlarged as well."

What for the spending of out-of-budget funds, the premier said that
the government will spend them reasonably trying not to leave ground
for any doubt.