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-
