Mon, 7 July
19.1 C
Yerevan
USD: 384.26 RUB: 4.88 EUR: 452.58 GEL: 141.37 GBP: 524.44

2012 Budget Deficit Poses No Threat To Armenia’s Macroeconomic Stability

YEREVAN, November 9. /ARKA/. Gagik Minasyan, chairman of the National Assembly’s financial and budgetary committee, speaking Wednesday at a news conference, said that the 3.1% budget deficit projected for 2012 poses no threat to the country’s macroeconomic stability.

“We precipitously increased deficit to 7.5% of GDP amid the crisis, and unlike other countries, we managed to implement large-scale anti-crisis projects and not to cut social projects thanks to that,” he said. “As a result, the economy got cheap credit resources and recovered in a relatively short period of time.”

The lawmaker said that deficit was narrowed by AMD 12 billion, compared with the previous year.
He also said that official grants would be considerably cut the next year, since American program Millennium Challenge is already over.

On September 29, Armenian government approved the 2012 draft budget. The budget revenue is projected at AMD 910 billion, spending AMD 1042.5 billion and deficit 132.5 billion here.

In this draft budget, revenue is planned to be enlarged by 6.8% in 2012, compared with 2011 (AMD 852.4 billion) and spending is projected to grow by about AMD 41.5 billion. ($1 – AMD 382.89). –0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Central Bank invalidated banking license of Ardshininvestbank due to its merger with Ardshinbank

The Board of the Central Bank of Armenia has revoked the banking license of Ardshininvestbank CJSC (formerly HSBC Bank Armenia CJSC) following its merger with Ardshinbank CJSC.

Average annual exchange rate of Armenian dram to US dollar  projected at 402 drams in 2025 – EDB

The value of the Armenian dram will decrease slightly in 2025, and its average annual exchange rate to the US dollar is projected at 402 drams in 2025, according to the Eurasian Development Bank’s (EDB)   macroeconomic forecast for 2025-2027.

Unibank’s “Haghtanak” branch serves clients from 9:30 am to 7:30 pm

Unibank branch “Haghtanak” has switched to a new operating mode - extended hours. Now clients can receive a full range of banking services from Monday to Friday - from 9:30 am to 7:30 pm.The branch is located at N94, 62 Komitas, Yerevan. 

Acba Bank donates amd 130 million to Military Insurance Fund (video)

Acba bank and other members of the financial group - ACBA Leasing and Amundi-ACBA - have donated more than AMD 130 million to Armenia's Military Insurance Fund in recent months, the press service of the bank reported

LATEST NEWS

spot_imgspot_imgspot_img