EX-HEAD OF ARMENIAN CENTRAL BANK: STATE BUDGET REVENUES OF ARMENIA FOR 2009 WILL BE UNFULFILLED AT LEAST 20%

ArmInfo
2009-08-25 20:44:00

ArmInfo. The state budget revenues of Armenia for 2009 will be
unfulfilled at least 20%, Bagrat Asatryan, ex-head of the Armenian
Central Bank told ArmInfo.

"The budget for 2009 is so unrealistic that it is very difficult
to make any assessment of the budget for the next year, " he
said. Economic decline in 2010 may total additional 1.5% as compared
to 12-13% of 2009, he said. B.

Asatryan explained his negative expectations mainly with reduction
of trade and services and money transfers. As regards economy
sectors, particularly construction and industry, there are some
positive expectations and certain activation is possible as well, he
said. Nevertheless, this will not stop downward trends, B. Asatryan
said.

State budget revenues for 2009 are envisaged at 905 million drams,
expenditures – 945 billion drams versus 768 million revenues and 844
billion expenditures in 2008.