MINISTRY OF FINANCE: IN 2010 SOCIAL EXPENSES WILL MAKE HALF OF THE BUDGET OF ARMENIA

ARKA
November 18, 2009
Yerevan

YEREVAN, November 18. /ARKA/. "In 2010 about half of the state
budget of Armenia will make social expenses", said Tigran Davtyan,
Minister of Finance of Armenia in the Parliament on Wednesday during
the discussion of draft state budget.

"In 2010 social expenses will make 45.7% of the state budget which
is unprecedented indicator. "It means that about half of the state
budget will be directed at social sphere – education, health and
social security", said Davtyan.

In 2010 expenses for education sphere will make 95 billion drams,
healthcare – 54.1 billion drams, social protection of population –
239.8 billion drams. In 2010 income of consolidated state budget of
Armenia will be 701.7 billion drams, expenses – 884.7 billion drams
with the deficit of 183 billion drams. In 2010 budgets of communities
will make 82.3 billion drams.

The size of the state budget without community budgets by income line
will make 676.6 billion drams, expenses – 859.6 billion drams with
the deficit of 183 billion drams. In 2010 the ratio of the deficit to
GDP will be 6% which is less than the indicator planned for 2009 up
to 7.5%. GDP growth for 2010 will be 1.2%, inflation – 41.5%. For the
next year import will increase by 0.8% and export by 14%. According
to the state budget of Armenia for 2009 approved by the Parliament on
November 27, 2008 the income of state budget will make 905.4 billion
drams, expenses – 945.4 billion drams with the deficit of 40 billion
drams. Tax entries and duties will make 727.5 billion drams.