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President signs 2013 state budget law

President signs 2013 state budget law

PanARMENIAN.Net - Armenian President Serzh Sargsyan signed a parliament-adopted law on 2013 state budget.

The law stipulates for AMD 32,7 bn consolidated budget income; AMD 1 trillion 152,5 bn in budget expenditures. AMD 993, 08 bn in tax income and state duty is envisaged, with deficit to amount to AMD 119,7 bn (2,6% of VAT.)

12-month inflation index is forecasted at 4±1,5%; 6,2% GDP growth is expected.

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Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
Armenia has been listed in the top 20 among the world’s most economically free countries, raking the 18th out of 159 countries and territories.
Another of the issues the PM weighed in on was corruption. He said that new committees will be established to tackle the issue.
The foreign debt makes up around $4.5 billion, including the government’s $3.99 billion and the Central Bank’s $502.4 million debts.
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