In Armenia, like in global economy, stabilize trends foreseen

PanARMENIAN.Net - Armenia's budget deficit for 2009 will not exceed the 6.5 per cent to GDP, Tigran Davtyan Finance Minister of Armenia, told a press conference on Friday. Tigran Davtyan recalled that, over the seven month of 2009 Armenia's GDP dropped more than 18 per cent due to the global financial and economic crisis. Starting from September or October GDP will improve and by the end of the year the economy will have less recession.



According the minister, over the first seven months: budget revenues amounted to 359 billion AMD, expenses reached 426.5 billion AMD, while the current state budget deficit for the seven months amounted to 67.5 billion AMD, which is 4.7 per cent of GDP. However, according to him, this figure will not exceed the level approved by the National Assembly of Armenia equal to 7.5 per cent of GDP. "I hope this year we will be able to keep the budget deficit figure at 6.5 per cent to GDP," - he said.



As for the budget deficit is expected to decline 1 per cent in 2010, according to Tigran Davtyan, compared with 2009 and in 2010 it can reach 5-5.5 per cent.