REDUCED BUDGETARY EXPENDITURES AND NO SEQUESTER, ASSURES ARMENIA’S MINISTER OF FINANCE
Noyan Tapan
Apr 14, 2009
Yerevan, April 14, Noyan Tapan. Armenia’s GDP declined by 3.7 per
cent within January-February 2009 compared with the same period of
last year, told Armenia’s minister of finance Tigran Davtian in the
National Assembly on April 8. According to him, this is bad, though
the situation is worse in some other CIS countries. For instance,
GDP of Ukraine dropped by 30 per cent, and GDP of Russia reduced by
12 per cent. This is evidence of relatively soft impact of the global
economic crisis on Armenia’s economy, told Davtian. The collection
of taxes is far less than it was envisaged, although in March some
increase in collection of duties was observed compared with the
beginning of the year, told the minister. While answering the questions
of the members of the National Assembly, the minister emphasized,
that despite the decision of the government about reallocation and
reduction of budgetary spending, this cannot be considered as a
budget sequester. To the question of the leader of the "Heritage"
fraction, Armen Martirosian, why in the condition of economic crisis
the members of the government continue traveling to foreign countries
using business class service, the minister replied, that the government
started economizing, particularly, travel expenses were reduced twice.