September 19, 2012 - 17:00 AMT
Manufacturer says Armenia’s 2013 draft budget “conservative”

Armenia’s draft budget for 2013 envisages economic growth trends, head of Armenian Union of Local Manufacturers said.

Vazgen Safaryan stressed the need to review the economic policy to solve the employment and migration problem.

“2013 draft budget is conservative, ensuring continuation of 2012 state budget,” he told a press conference in Yerevan, adding that national budget revenues are expected to total AMD 1.120 trillion, expenditures – AMD 1,120 trillion, with deficit to gross AMD 120 bln.

Considering that 2012 budget envisages revenues at the amount of AMD 911,6 bln, expenditures of AMD 1044,1 bln, and deficit of AMD 132,5, the new draft budget forecasts higher indices.

“This year, industrial output is expected to total AMD 1,060 trillion against last year’s AMD 992 bln,” he said, noting the construction of North-South highway, Vanadzor-Fioletovo new railroad, as well as the possible launch of Nairit chemical giant among the economic growth engines.