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New Europe
Dec 18 2011
National Assembly approves budget for 2012
December 18, 2011 - 6:17pm
Armenia's state budget for 2012, backed by 66 parliament deputies and
rejected by two others, was recently approved by the National
Assembly. The budget initiated by Armenian Prime Minister Tigran
Sarkisian's cabinet envisages a hike in tax revenues questioned by the
Armenian government's tax collection agency, Armenia Liberty.org
reported. Most of the deputies representing the opposition
Dashnaktsutyun and Zharangutyun parties boycotted the vote. Both
parties slammed the government as according to them the budget
outlines a very modest rise in social spending planned in 2012.
The budget states that the government can spend 1.04 trillion drams,
up by about 5% from this year's level. Its budgetary revenues are
projected to reach 911.6 billion drams. The resulting budget deficit
is to be equivalent to 3.1% of gross domestic product (GDP), down from
about an expected 4% this year.
To that end, the State Revenue Committee (SRC) will have to collect
101bn drams in additional taxes, duties and social security payments
in 2012. The government based its budgetary targets on the assumption
that the Armenian economy will grow by 4.2% in 2012. According to head
of the SRC, Gagik Khachatrian, this tax target seems unrealistic.
However, Sarkisian and Finance Minster Vache Gabrielian have dismissed
Khachatrian's views as null.
http://www.neurope.eu/article/national-assembly-approves-budget-2012
Dec 18 2011
National Assembly approves budget for 2012
December 18, 2011 - 6:17pm
Armenia's state budget for 2012, backed by 66 parliament deputies and
rejected by two others, was recently approved by the National
Assembly. The budget initiated by Armenian Prime Minister Tigran
Sarkisian's cabinet envisages a hike in tax revenues questioned by the
Armenian government's tax collection agency, Armenia Liberty.org
reported. Most of the deputies representing the opposition
Dashnaktsutyun and Zharangutyun parties boycotted the vote. Both
parties slammed the government as according to them the budget
outlines a very modest rise in social spending planned in 2012.
The budget states that the government can spend 1.04 trillion drams,
up by about 5% from this year's level. Its budgetary revenues are
projected to reach 911.6 billion drams. The resulting budget deficit
is to be equivalent to 3.1% of gross domestic product (GDP), down from
about an expected 4% this year.
To that end, the State Revenue Committee (SRC) will have to collect
101bn drams in additional taxes, duties and social security payments
in 2012. The government based its budgetary targets on the assumption
that the Armenian economy will grow by 4.2% in 2012. According to head
of the SRC, Gagik Khachatrian, this tax target seems unrealistic.
However, Sarkisian and Finance Minster Vache Gabrielian have dismissed
Khachatrian's views as null.
http://www.neurope.eu/article/national-assembly-approves-budget-2012