YEREVAN, October 19. /ARKA/. Armenia is gradually returning to stable economic development, Armenian Finance Minister Tigran Davtyan said Monday while presenting the 2011 draft government budget to the national Assembly’s committees.
He said that the budget ensures a stable development to the country’s economy.
Davtyan said that the expansionary policy pursued by the cabinet ministers in 2009 was completely justified amid the crisis, while now the government is gradually withdrawing from it.
“We are withdrawing from the expansionary policy for transition to restraining policy… But we are doing it smoothly, without shocks.”
The Armenian government approved the 2011 draft budget on September 30.
The 2011 budget spending will come close to AMD 1 trillion, revenue is planned to total AMD 849.9 billion and deficit will amount to AMD 148.6 billion.
GDP growth is projected at 4.6%. ($1 = AMD 360.55).-0—
