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THE GOVERNMENT EXPECTS A 4.2% ECONOMIC GROWTH IN 2012
Lusine Vasilyan
"Radiolur"
01.11.2011 18:08
The idea underlying the state budget for Fiscal Year 2012 is that we
must spend as much as we are able to collect, Prime Minister Tigran
Sargsyan said, presenting the draft budget at the National Assembly.
The revenues and expenditures are expected to total 937 billion and
1 trillion 69 million AMD respectively. The deficit is projected at
the level of 132 billion AMD. In the next year's budget the revenues
and expenditures will increase with 62 and 46 billion respectively.
The Armenian government expects a 4.2% GDP growth in 2012. The target
figure in 2011 was 4.6. According to Tigran Sargsyan, by projecting
a lower level of economic growth, the government has taken into
consideration the risks and challenges existing on the international
arena, as well as international organizations' assessment of economic
development trends.
"Naturally, this decrease makes the budget for FY 2012 more realistic.
At the same time it provides an opportunity to accumulate reserves
and resources to resist the possible challenges."
The government predicts a 7.5% growth in the field of industry and
4%growth in the sphere of agriculture. For the first time sine 2009
the decline in the sphere of construction is expected to stop, and
it will even be possible to ensure a 2.5% growth in the field. The
government is going to guarantee all this under the conditions of 4%
inflation rate.
"In general, the idea underlying the state budget for Fiscal Year
2012 is that we must spend as much as we are able to collect," the
Prime Minister said.
Lusine Vasilyan
"Radiolur"
01.11.2011 18:08
The idea underlying the state budget for Fiscal Year 2012 is that we
must spend as much as we are able to collect, Prime Minister Tigran
Sargsyan said, presenting the draft budget at the National Assembly.
The revenues and expenditures are expected to total 937 billion and
1 trillion 69 million AMD respectively. The deficit is projected at
the level of 132 billion AMD. In the next year's budget the revenues
and expenditures will increase with 62 and 46 billion respectively.
The Armenian government expects a 4.2% GDP growth in 2012. The target
figure in 2011 was 4.6. According to Tigran Sargsyan, by projecting
a lower level of economic growth, the government has taken into
consideration the risks and challenges existing on the international
arena, as well as international organizations' assessment of economic
development trends.
"Naturally, this decrease makes the budget for FY 2012 more realistic.
At the same time it provides an opportunity to accumulate reserves
and resources to resist the possible challenges."
The government predicts a 7.5% growth in the field of industry and
4%growth in the sphere of agriculture. For the first time sine 2009
the decline in the sphere of construction is expected to stop, and
it will even be possible to ensure a 2.5% growth in the field. The
government is going to guarantee all this under the conditions of 4%
inflation rate.
"In general, the idea underlying the state budget for Fiscal Year
2012 is that we must spend as much as we are able to collect," the
Prime Minister said.