{"id":249638,"date":"2020-12-30T08:13:30","date_gmt":"2020-12-30T08:13:30","guid":{"rendered":"https:\/\/armbanks.am\/2020\/12\/30\/249638\/"},"modified":"2020-12-30T08:13:30","modified_gmt":"2020-12-30T08:13:30","slug":"armenias-2020-government-budget-deficit-to-increase-to-6-2-central-banks-report","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2020\/12\/30\/249638\/","title":{"rendered":"Armenia&#8217;s 2020 government budget deficit to increase to 6.2% &#8211; central bank&#8217;s report"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>YEREVAN, December 30. \/ARKA\/. <\/strong>Armenia&#8217;s government budget deficit in GDP will increase by 4.8 percentage points in 2020, compared to last year, and will reach 6.2%, which is mainly due to tax cuts, according to the monetary policy program for the fourth quarter and the central bank&#8217;s report on the implementation of monetary policy for the third quarter of this year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAccording to estimates, in 2020 tax revenues will significantly shrink in comparison with the indicator prescribed in the law on the state budget of Armenia for 2020. As a result, the ratio of taxes to GDP will be 22%, having decreased by 0.3 percentage points compared to 2019,\u201d the report says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2020, the GDP will increase significantly &#8211; by 11.6 percentage points. The government debt will also increase &#8211; it will reach 61.5%.<br>\nThe report notes that in 2021 compared to 2020, the tax-to-GDP ratio is expected to increase by 0.3 percentage points, and the ratio of deficit to GDP to decrease by about 1 pp.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cUnder thesecircumstances, fiscal policy will be somewhat restrictive in order to create conditions for reducing government debt in the medium term and ensuring fiscal stability,\u201d the document says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On April 29, 2020, the National Assembly of Armenia approved a revision of budget indicators that was prompted by COVID-19 situation. Taking into account the adverse impact of the situation with the coronavirus, the budget forecast for GDP was revised downward &#8211; to a decline of 2% (previously, the budget had laid down an increase of 4.9% for the current year), and the deficit was increased to 340 billion drams, or 5% of GDP ( previously 2.3%). ($ 1 \u2013 AMD 522.3). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia&#8217;s government budget deficit in GDP will increase by 4.8 percentage points in 2020, compared to last year, and will reach 6.2%, which is mainly due to tax cuts, according to the monetary policy program for the fourth quarter and the central bank&#8217;s report on the implementation of monetary policy for the third quarter of this year<\/p>\n","protected":false},"author":1,"featured_media":157087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12497,13523,511],"class_list":["post-249638","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-en","category-news","tag-armenia-2","tag-deficit","tag-government-budget","tag-511"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Armenia&#039;s government budget deficit in GDP will increase by 4.8 percentage points in 2020, compared to last year, and will reach 6.2%, which is mainly due to tax cuts, according to the monetary policy program for the fourth quarter and the central bank&#039;s report on the implementation of monetary policy for the third quarter of this year\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"admin\"\/>\n\t<meta name=\"google-site-verification\" content=\"l8sdBd3STQ6A37MF5AO_21FEwNPHg9tRpooOo3Wx_eQ\" \/>\n\t<meta name=\"keywords\" content=\"armenia,deficit,government budget,\u0433\u043e\u0441\u0431\u044e\u0434\u0436\u0435\u0442\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/armbanks.am\/en\/2020\/12\/30\/249638\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"Armenia\u2019s 2020 government budget deficit to increase to 6.2% \u2013 central bank\u2019s report - 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