Galust Sahakyan expects budget overfulfilment if economic growth continues

Galust Sahakyan expects budget overfulfilment if economic growth continues

PanARMENIAN.Net - The head of the ruling Republican Party of Armenia (RPA) parliamentary group commented on RA NA-adopted 2012 state budget.“In estimating the budget, we were basing our decisions on the fact that the budget will be overfulfilled in case current economic growth persists,” Galust Sahakyan told a PanARMENIAN.Net reporter.

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%).

 Top stories
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
The ruble was trading at a low of 74.9 to $1 on March 9 morning, after another wild start to the week for financial markets.
Pashinyan said that raising the efficiency of the fight against corruption will be one of the most important challenges.
The Council adopted revised conclusions on the EU list of non-cooperative jurisdictions for tax purposes.
Partner news