"HERITAGE" PARTY: 2010 DRAFT STATE BUDGET OF ARMENIA IS UNACCEPTABLE AND MYOPIC

Noyan Tapan
Nov 13, 2009

YEREVAN, NOVEMBER 13, NOYAN TAPAN. The 2010 draft state budget of
Armenia is unacceptable and myopic, as it does not aim at implementing
an anticrisis policy, is said in the November 13 statement of
"Heritage" Party’s parliamentary faction.

"Heritage" notes that the burden of the state debt prevails in the
2010 state budget of the RA, and the share of mining industry as
well as the share of construction and service sectors in the economic
infrastructures are dominant. The budget serves the officials and the
oligarchical-monopolistic vicious system and shows the authorities’
inability to fight the shadow economy and force big business to
pay the full amount of taxes. The budget does not contribute to the
development of various branches of the Armenian economy, especially
the industry, the agrarian sector, and SMEs. It is not conducive to
the efficiency of agricultural produce sale and processing sector,
which makes the development of diversified production impossible.

Underlining that the 2010 state budget’s deficit exceeds 4.5folf the
2009 index, "Heritage" says the budget is unable to ensure solution
of social problems of the country’s population and to raise the living
standard of the poor and the vulnerable groups.

"Heritage" faction is deeply concerned about the negative and declining
nature of the 2010 state budget presented by the government and the
authorities’ incapacity to overcome the challanges facing the Republic
of Armenia," the statement reads.