Final draft budget for 2010 discussed in Armenian Parliament

PanARMENIAN.Net - Defense spending for 2010 has been increased by AMD 19.4 billion, as compared with the original version and amount to AMD 131 billion, the Armenian Minister of Finance Tigran Davtyan said presenting the draft state budget in Parliament approved by the Government. In addition, according to finance minister, the financial assistance to Nagorno-Karabakh has been also increased by AMD 2 billion in the updated draft budget compared with the original version.



Tigran Davtyan also informed, that a large proportion of EU grant funds (100 million euro) will be directed to rebuilding of schools in the regions of Armenia.



According to the updated draft budget for 2010, the total Armenian state budget revenues will amount to AMD 742 billion instead of previously projected AMD 676 billion, which will help to increase total revenue by AMD 65 billion. The expenditure part of the budget will be increased by AMD 75 billion, and reach AMD 935 billion, instead of the previously projected AMD 859 billion. The state budget deficit in 2010 will amount to AMD 193 billion, or 6 per cent of GDP. 1.2 per cent of economic growth is projected for 2010.