ARMENIA’S STATE BUDGET 2009 HERALDS STABLE ECONOMIC GROWTH: MINISTER

ARKA
Nov 4, 2008

YEREVAN, November 4. /ARKA/. Armenia’s state budget 2009 will become a
budget of stable growth, RA Ministry of Finance Tigran Davtyan told
Monday the students and professors of Armenia’s State University
of Economics.

"The budget will ensure long-term stable economic growth," the
minister added.

A number of strategic documents, including the government’s five-year
expenditure program and the mid-term expenditure program, as well
as macroeconomic forecasts, form the basis for the state budget,
according to Davtyan.

"The mid-term government program makes our task easier," the minister
said.

Davtyan stressed the importance of the Poverty Reduction Program,
saying the stabile development program which will be effective
until 2021.

The minister told the students next year’s budget almost reaches
1 trillion drams, adding the budget receipts and expenditures will
total 905.4bln drams and 945.4bln drams respectively, with the deficit
amounting to 40bln drams.

According the budget 2009 draft, receipts and expenditures will total
927bln drams and 967bln drams, with 40bln drams worth deficit.

The exchange rate of Armenian Dram (AMD) is set at AMD 302.4 per $1.

Armenia’s GDP will rise 9.2% (10% in 2008) to 4 trillions in 2009
with 4% (±1.5%) targeted inflation. GDP per capita will reach $4,200,
compared to $4,000 in 2008.

–Boundary_(ID_YcuqrjiQwTbrwDTwBwe9fQ)–