ARMENPRESS

THE ARMENIAN GOVERNMENT PASSES TO A STRICT REGIME OF SAVINGS

YEREVAN, MARCH 12, ARMENPRESS: The Armenian government must pass to
the strict regime of savings. During today’s session of Armenian
government Prime Minister Tigran Sargsian said that the state means
must utmost be saved and `spent in accordance with our
incomes’. According to Tigran Sargsian, this year’s indicators of
National Statistic service show that the Armenian GDP and other
indicators have abruptly deteriorated.
`We are obliged to be ready for the worst scenario of development
of events. Today there are rather great uncertainties and no one can
make predictions on the further developments of world economy as a
result of the crisis. We are passing to the principle of trimester
budget planning and we will plan our expenditures according to it’,-
the Armenian Prime minister noted.
According to him, savings must be conducted and the expenditures `
reduced. The prime minister stressed that in the circumstance of these
savings the social expenditures ` allowances, pensions and salaries
must be preserved. In other expenditures strict savings must be
conducted. T. Sargsian said it is hard not to agree that difficulties
will arouse in respect of numerous internal and external functions.
`We are obliged to overcome them, there is no other way as the
world economy develops in a bad scenario, predictions of the World
Bank and International Monetary Fund are regularly reviewed and it is
changing in a negative direction. We must save and spend the sum we
are able to collect from the taxes’,- the prime minister said.
According to him, within five day’s period all the ministries and
departments must present suggestions on a more efficient
implementation of budget expenditures. At 15:00 o’clock on Monday,
financers of all the state institutions must be present in the
Armenian Finance Ministry and present their observations.
During the session Armenian Finance Minister noted that formation
of 2010-2012 middle-term expenditure programs is being suspended. The
taxes-GDP relationship must be increased for 0.4% during this year and
reach 17.4%.
There is no other way’,- the Minister said. He stressed that the
expenditures must not be reduced but re-distributed, and a number of
expenditures ` transferred to another period.

From: Emil Lazarian | Ararat NewsPress