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No Budget Headway In Armenia

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  • No Budget Headway In Armenia

    NO BUDGET HEADWAY IN ARMENIA

    news.am
    Oct 14 2010
    Armenia

    The 2011 draft budget has not made any headway as compared with last
    year~Rs draft budget, Ara Nranyan, an MP of the Armenian Revolutionary
    Federation (ARF), told journalists Oct 14. It is nothing but a
    financial document, he said.


    According to him, it is not a draft budget aimed at development. ~SWe
    will never make progress with such a budget. The budget message says
    what should have been written and done several years ago: economic
    diversification and export promotion,~T the expert said.


    The Armenian economy is still based on a couple of sectors, and a
    decline in the construction sector was followed by a decline in the
    agricultural sector. If the weather is the cause, it was to have been
    happened two or three years ago. However, no such decline has ever
    been registered before, he said.


    Commenting on the Armenian Government~Rs decision to raise the excise
    tax, Nranyan said that it meets importers~R interests and will cause
    an increase in budget revenues. On the other hand, it will affect
    the right of local producers.




    From: A. Papazian
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