Armenian state budget for 2009 to ensure stable economic development
Armenian state budget for 2009 to ensure stable economic development30.09.08, ARKA
Macroeconomic indicators planned under the state budget of Armenia for 2009 will ensure stable economic development in the country, Armenian Minister of Finance Tigran Sargsyan said. Under the state budget, GDP growth is to reach 9.2% and allow maintaining dynamic development trends, the Minister said. Inflation is to be scotched within 4%±1.5% next year, he said adding that all the required conditions are there – unprecedented-low state budget deficit of 0.96% of GDP in particular. Davtyan also pointed out that serious efforts were made to increase state budget revenues (particularly in terms of tax collection and taxes to GDP ratio) in preparing the state budget. Tax to GDP ratio is to constitute 17.4% next year, he said. The state budget of Armenia for the next year is based on the Government Program for 2008-2012, sustainable development programs and macroeconomic protections of IMF and Central Bank experts, the Minister said.
Armenian Government approved the draft law about draft state budget for 2009. Consolidated state budget (including community budgets) income is planned at 927.1bln Drams with on-budget expenditures of 967.1bln Drams. Deficit of consolidated budget is to amount to 40bln Drams. GDP is expected to reach 4trln 169bln Drams in 2009 with GDP per capita planned at $4,300. USD exchange rate used in state budget projections is 302 Drams for $1. N.V. –0—
