FORMER YEREVAN MAYOR SAYS NEXT YEAR BUDGET JEOPARDIZES ECONOMIC GROWTH
YEREVAN, November 7. / ARKA /. A former Yerevan mayor Vahagn
Khachatryan claimed that the 2014 draft budget will jeopardize
economic expansion next year as it does not provide for an increase
in investment.
Speaking at a news conference, Khachatryan, who is a member of the
opposition Armenian National Congress, argued that the government
has not created conditions for attracting investments.
“The government has openly stated that it can not deliver on the
promises that were given last year regarding GDP growth, investment
and poverty reduction,” said Khachatryan.
“The 2014 draft budget confirms that the government is unable not
only to run the country, but also the economy,” he concluded.
According to the National Statistical Service, the total amount of
foreign investment in the real sector of the economy in six months
slashed by almost 35 percent from the year before to $293 million.
The 2014 budget calls for a 5.2 % GDP growth, down from 6.2% projected
for this year. The 12-month inflation is forecast at 4%. (± 1.5%
The Armenian government plans to collect 1.134 trillion drams in 2014
in revenue. The draft budget calls also for 1.244 trillion drams in
government spending. The projected deficit is 110 billion drams. -0-
– See more at:
From: Emil Lazarian | Ararat NewsPress
