NATIONAL ASSEMBLY APPROVES 2008 STATE BUDGET

Noyan Tapan
Nov 26 2007

YEREVAN, NOVEMBER 28, NOYAN TAPAN. At the November 28 special session,
the RA National Assembly adopted the 2008 draft state budget with
87 votes in favor, 2 votes against and 8 abstentions. In accordance
with their decisions made public the day before, the deputies of the
"Heritage" faction, who were present at the sitting, voted against,
while those of the "Orinats Yerkir" faction abstained from voting.

The revenues of the 2008 state budget make 746 billion drams, the
expenditures – 822 billion drams, the deficit – 76 billion drams. The
nominal gross domestic product (GDP) makes 3,520 billion drams or
10.825 billion USD, the per capita GDP makes 3,350.2 USD. The real
growth of GDP is envisaged to make 10%, the GDP deflator – 4%, the
inflation – 4 +- 1.5%. The settlement exchange rate of a US dollar
is 325.16 drams.