ARMENIAN GOVERNMENT APPROVES DRAFT BUDGET FOR 2007

Regnum, Russia
Sept 28 2006

On September 28, the Armenian government approved draft law ‘On State
Budget 2007,’ which will be submitted to parliamentary discussion,
at its regular session.

As REGNUM was informed at the Armenian governmental press office,
taking into consideration program of governmental actions, program
of strategy, aimed at poverty overcoming, anti-corruption strategy,
the draft law envisages orientation of country’s economy policy
towards preservation of achieved rate of economic growth, guaranteeing
micro-economical stability, increasing population’s standard of living,
especially one of poor strata, gradual overcoming poverty’s level,
prolonged increasing poverty, and solution of social and economic
questions.

It is recorded in the draft law; total revenue of budget-2007 will
total 587.3bn of drams ($1.545bn), total expenditures – 655.6bn of
drams ($1.725bn), budget deficit – 68.3bn of drams ($180mln). Revenue
of the total budget will increase by 90.3bn of drams, i.e. by 18.3%;
its expenditures – by 88.8bn of drams, i.e. by 15.6%. It is supposed;
revenue and expenditures of budget of obligatory social insurance
will total 106.4bn of drams each. According to forecasts; communities’
budgets will total 39.2bn of drams each (including official transfers,
received from state budget).

Revenue of the budget 2007 is approved at the rate of 489.5bn of
dramas ($1.288bn); its expenditures – 557.8bn of drams ($1.467bn);
its deficit will total 68.3bn of drams ($179mln). Comparing with
budget-2006, revenue of the budget-2007 increased by 77.2bn of drams,
i.e. by 18.7%, its expenditures – by 75.6bn of drams, i.e. by 15.6%.