ARMENIAN GOVERNMENT DECIDES TO REDISTRIBUTE STATE BUDGET
ARKA
March 26, 2009
Aghveran
Armenian Government made a decision to redistribute the state budget
for 2009 and to temporarily suspend the development of the mid-term
expenditures program for 2010-2012 at its guest sitting in Aghveran
Thursday.
A similar preliminary decision was made at the government sitting on
March 12 when the country’s ministries and agencies were assigned
to submit their proposal to Ministry of Finance for summarization,
the Minister said.
All the procedures were followed within the shortest possible time,
and the Ministry of Finance carried out a huge amount of work to
provide a final version of the government decision, Davtyan said.
The Ministry evaluated risks of the budget revenues and found them to
be at 131.6bln Drams. This is the part of the state budget incomes
that cannot be fulfilled probably and hence is carried over to the
fourth quarter of 2009, the Minister said.
Davtyan stressed that the changes do not involve social expenditures
and those on payment of pensions, benefits and salaries. Most
important programs on economic development of the country, as well
as the defense budget will not be revised either.
Apart from this, the government decision supports the draft law on
the country’s state budget for 2010 that provides for suspension of
development of the mid-term expenditures program for 2010-2012. The
reason for the suspension is that under the global crisis conditions
it is difficult to forecast the main macroeconomic indicators,
Davtyan said.
Armenian National Assembly passed the state budget for 2009 on November
27, 2008.
Under the budget, the revenue is planned to total 905.4 billion
Drams, expenditures 945.4 billion Drams and deficit 40 billion
Drams. Under the budget, GDP growth is to be 9.2% with inflation at
4±1.5%.