2012 Armenian budget executed with AMD 59.9 bln deficit

PanARMENIAN.Net - Armenian parliament held a discussion of the annual report on 2012 national budget implementation, with Prime Minister Tigran Sargsyan presenting the key macroeconomic indices.

Armenia posted 7,2% economic growth in 2012, with the annual inflation rate totaling 3,2%. 7.4% nominal growth of budget revenues was reported, with expenditures increasing by 2%. Export increased by 7% to gross AMD 1,4 bln, with import growing by 2,9% to total AMD 4,3 bln.

GDP totaled AMD 3,98 bln; industry posted 5,7% growth, agriculture sector - 9,3%, construction - 0,5%, service sector – 8%.

Prime Minister Sargsyan noted that the budget deficit was set at AMD 59,9 bln against the planned AMD 132,2 bln. National debt totaled AMD 1 trillion 508 billion or USD 3 billion 738 million.