Fri, 17 October
20.1 C
Yerevan
USD: 382.59 RUB: 4.71 EUR: 447.25 GEL: 141.36 GBP: 513.89

Armenian National Assembly committees to open 2016 draft budget discussion on November 2

YEREVAN, October 21. /ARKA/. The Armenian National Assembly committees are to open the 2016 draft budget discussion on November 2, the press office of the National Assembly reported on Wednesday.

The draft 2016 budget, approved by the Armenian government on October 1, projects a 2.2% GDP growth, a 4% GDP deflator index, 12-month inflation at 4% (± 1.5%) and a budget deficit of 3.5% of GDP. The budget calls also for 1.373 trillion drams in revenues and 1.183 trillion drams in spending.  The projected deficit is 197 billion drams.

On the first day of the discussion, the committees will gather for a joint session, which will be attended by Prime Minister Hovik Abrahamyan, Vice-Premier and International Economic Integration and Reforms Minister Vache Gabrielyan, Head of the Central Bank of Armenia Arthur Javadyan and Finance Minister Gagik Khachatryan.

Specialized committees are scheduled to embark on the budget discussion on November 9.
The discussion will be completed on November 12, and one day later the parliament’s administration will submit written proposals to the government.

On November 16, the speaker will propose to put the draft budget on the National Assembly’s floor. ($1 – AMD 472.99). —-0—–

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img