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  • 4 years ago
    • Categories: 2020

Armenpress: Budget revenues increased 43.6%: Armenian PM presents performance of government’s action plan

Budget revenues increased 43.6%: Armenian PM presents performance of government’s action plan

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 11:22, 6 May, 2020

YEREVAN, MAY 6, ARMENPRESS. After the 2018 Revolution the Armenian government managed to increase the state budget revenues by 43.6% within 1 year 8 months. Within the frames of these funds nearly 199 billion drams in debt has been returned to the business, Prime Minister Nikol Pashinyan said in the Parliament while presenting the report on the implementation process and results of the government’s 2019 action plan.

“2019 was the first complete year of the activity of the post-revolutionary government, and this full year was to give us a complete vision on the potential of the post-revolutionary government and the political majority. Therefore, I find it very important to note that in 2019 we managed to record the highest economic activity rate since 2008 – 7,6%, which is the highest for the EAEU states, all neighboring countries and the countries of the European region”, the PM added.

In 2018-2019 the government managed to increase the state budget tax revenue’s declaration figure by 505 billion drams. This is more than a 1 billion USD. And in this respect the budget figure grew by 43.6%. “I want to remind my statement during the revolution period that the state budget revenues should increase by 30-35% within 1-2 years. In fact, we managed to increase the state budget revenues by 43.6% within 1 year 8 months”, the Armenian PM said.

Pashinyan said the 2019 economic growth was accompanied by the improvement of economy’s sectoral structure, low inflation and stable financial indicators. He highlighted that the growth in the processing industry comprised 12% in 2019. The export of goods and services from Armenia in 2019 increased by 10.3%, major export growth has been registered in the commodity groups of brandy, fruit wines, etc. Nearly 30% growth in turnover has been registered in the field of high technology industry. In January-September 2019 the inflow of foreign investments comprised 2.2 billion USD which is more by 465 million USD or 27.2% compared to the same period of the previous year.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan

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