Aysor, Armenia
The Armenian National Assembly adopted today the bill on making changes in the 2020 state budget law.
Bright Armenia faction voted against the bill.
The bill envisages 150 billion AMD assistance package to combat the risks from restrictions applied to avoid spread of coronavirus and the ones coming from outside. The application of the package will result in decline of the real GDP by 2%.
Some 25 billion AMD will be addressed to enterprises, 25 billion to social assistance programs, 80 billion to long-term economic development programs and 20 billion savings for redistribution.
It has been assessed that in 2020 the tax incomes will reduce by 169,1 billion AMD as a result the level of expenses will remain unchanged. By engaging the 150 billion AMD economy assistance packages the deficit of the state budget will grow reaching 5% in the GDP and the need of additional funding of the budget will make over 260 billion AMD.