2009 Budget deficit in Armenia could exceed the level of 7,5% of GDPJuly 7, 2009 - 15:26 AMT PanARMENIAN.Net - RA Government submitted the project of budget deficit increase to 7,5% of GDP to National Assembly, RA Prime Minister Tigran Sargsyan stated in his address delivered at "Impact of the Global Financial Crisis on Armenia: Short- and Long-run Perspectives" international scientific conference. "It's an unprecedented index for Armenia, as, within recent years, our budget deficit never exceeded 3% at the lower-than-planned level. Budget deficit in Armenia in 2009 could exceed the level of 7,5% of GDP," he said.Sargsyan reminded that RA NA approved the 940 billion budget and he government does not intend to apply sequester. "We do not intend to apply sequester, as macroeconomic index will be negatively affected," he said, adding, "Budget deficit increase seems reasonable in this context." RA budget deficit will be funded by Asian Development Bank (around $80 million), WB (around $50 million); AMD 24 billion of Russian credit and AMD 24 billion attracted from internal market will also be allocated, including the largest IMF-provided investment of $150 million. RA NA has scheduled an extraordinary sitting to ratify the agreement. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Some 100 detained as protesters, police clash in Yerevan Riot police fired stun grenades outside the Armenian parliament as they clashed with protesters. Exclusive access to all EURO 2024 games for Ucom subscribers This year once again Ucom stands as the primary partner of UEFA EURO 2024 in Armenia. Pashinyan congratulates Putin on Russia Day Nikol Pashinyan sent congratulatory messages to Vladimir Putin and Mikhail Mishustin on the occasion of Russia Day. Armenia, U.S. to upgrade Strategic Dialogue meeting to Strategic Partnership Commission The two governments have release a statement on the occasion of the U.S.-Armenia Strategic Dialogue Capstone meeting. |