{"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><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>\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>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>\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>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":{"0":"post-249638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-armenia-2","10":"tag-deficit","11":"tag-government-budget","12":"tag-511"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=249638"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157087"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}