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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According to Gagik Beglaryan, the Chinese side put forward a number of proposals on the implementation of the railway construction project.
ContourGlobal expects the modernization to create 150 near-term jobs in addition to the 150 long-term technicians employed.
The President declared that we will cover only the population's expenses, meaning people who spend 250 kW of electricity per month.
The proposed additional financing will raise the total length of roads to 360 km, 73 km of which have already been rehabilitated.
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