ARMENIAN GOVERNMENT APPROVES ITS MID-TERM EXPENDITURES PROGRAM FOR 2011-2013
/ARKA/
July 8, 2010
YEREVAN
YEREVAN, July 8, /ARKA/. The Armenian government has approved today
its mid-term spending program for 2011-2013.
Speaking at a regular government session finance minister Tigran
Davtian said the government had to stop mid-term planning last year r
because of the crisis and now when it is over the Cabinet is returning
to normal planning procedures, including budget planning. Davtian
said the government expects to increase the Domestic Gross product
(GDP) to 4.1 trillion Drams in 2013 from 3.2 trillion Drams this year.
He said the government’s aggregate spending in 2013 will reach 964
billion Drams while the share of tax revenues and dues will grow to
19.3% of the GDP from 17.7% in 2010. According to him, the spending
threshold will go beyond 1 trillion Drams in 2011 and will grow to
1.129 trillion Drams in 2013. He also said the government will work
hard to cut the budget deficit to 4.9% in 2011, 4.3% in 2012 and 4%
in 2013.
The government has projected to collect this year 742 billion Drams
in revenues and spend 935.5 billion Drams. The projected deficit is
193.4 billion Drams ($1 – 368.73 Drams).
From: A. Papazian
Disclaimer: This article was contributed and translated into English by Andres-Papazian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2010/07/10/armenian-government-approves-its-mid-term-expenditures-program-for-2/