PanARMENIAN.Net

Government decides to curb budget expenditures
12.03.2009 20:41 GMT+04:00

/PanARMENIAN.Net/ At Monday meeting the government of Armenia came up
with the decision to cut down on the budget expenditures. `We need to
use the State resources sparingly and to carry out the expenditure
commensurate with our revenue. We must be ready for the worst scenario
to come, said Tigran Sargsyan, Armenia’s Prime Minister. The
uncertainty of the situation is too big and under the current
situation Armenia will move to a quarterly budget planning.

The head of the Government said that the following items regarding the
economy are protected, namely social expenses, pension expenses,
allowances, salaries, defense expenses; the rest of the expenses will
be carried in the regime of rigid economy.

Since the world crisis is developing by a no good scenario, and the
forecasts by WB and IMF have been reviewed four times for the last
month. That is why need to work more efficiently, be prompt to spend
as much as we can get from taxes,’ said the Prime Minister.