BAGRAT ASATRYAN SAYS GOVERNMENT SHOULD REVISE THIS YEAR’S BUDGET

10.04.2015 17:01

YEREVAN, April 10. / ARKA /. The Armenian government should revise
completely the 2015 budget, a former head of the Central Bank Bagrat
Asatryan told a news conference today.

He said the budget was adopted in 2014 early December and did not
consider the situation in the local financial and economic markets
that emerged late in 2014.

He argued that the government should make an overhaul of its fiscal
policy with the focus on social issues.

He also said that the government should develop a new program to
stimulate the economy, attract foreign investment and support socially
vulnerable segments of the population.

The 2015 budget calls for 1 trillion and 191 billion drams in revenue
(including 1 trillion and 138 billion drams or 23.39% of the GDP
as taxes) and for a spending in the amount of 1 trillion and 305
billion drams or 26.82% of the GDP. The projected budget deficit is
114 billion drams or 2.34% of the GDP.

The 2015 draft budget projects also a 4.1% GDP growth and a 4% (±
1.5%) inflation. The cost of budget a USD in the budget is set at
411 drams. Today it is 475.55 drams.-0-