Heritage calls 2012 state budget “pre-electoral”

PanARMENIAN.Net - The head of Heritage opposition party’s parliamentary group characterized the Armenian National Assembly-adopted 2012 state budget as “pre-electoral.”

“The budget was adopted in a desperate attempt to resolve the problems which hadn’t been solved over the last 4 years,” Stepan Safaryan told a PanARMENIAN.Net reporter.

“The newly-adopted budget doesn’t look reassuring, not does it prove Armenia’s past the crisis and instability. As for the budget implementability, the authorities, as usual, will fulfill it through external debt increase, giving no thought to the ways of paying it off,” the oppositionist said.

On December 8, National Assembly adopted 2012 state budget with 66 votes in favor and 2 against. Heritage and ARF Dashnaktsutyun parliamentary groups did not vote.

The final version of 2012 state budget stipulates AMD 911,6 bln revenues, AMD 1044,1bln. expenses and AMD 132,5 bln deficit. Deficit rate in GDP is forecast to total 3,1% against 3,95% stipulated for 2011 state budget.

The parliament also adopted a legislative package of tax reforms to ensure growth of AMD 101 bln tax inflow for 2012.

2012 envisages economic growth of 4,2% and inflation rate of 4% (+,-1.5%).