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ARMENIAN PRIME MINISTER: STATE BUDGET DEFICIT IN ARMENIA SHOULD NOT EXCEED 3% IN 2012
arminfo
Monday, October 10, 14:13
A 3.5 percent economic growth has been registered in Armenia versus
the envisaged annual 4.6%, Prime Minister of Armenia Tigran Sargsyan
said at the meeting of the Trusteeship Council of the National
Competitiveness Fund of Armenia on October 8.
"We regard it as a real indicator. The envisaged 4% + / -
1.5% inflation is also a real figure. In 2011 we will manage to
cut inflation versus 2010, in particular, we are going to enter a
5-percent inflation environment from 10-percent environment," Tigran
Sargsyan said.
The prime minister said that agricultural sector is being rapidly
restored - 21 percentage growth. Industrial sector grew 12-14 percent,
trade turnover -7%, services - 4%. For the first 8 months of 2011
foreign commodity turnover grew 25%, export - 30%, import - 15%-18%.
Tigran Sargsyan said that the national dram exchange rate has been
quite stable within the year.
As for the state budget fulfillment, the premier said that the
budget revenues exceeded the target: taxes are collected without any
deviations, while 50 billion drams savings were registered in the
item of expenditures.
"That is, we wage a restrained policy gathering more taxes and
spending less. Our behavior rule for 2012 will depend on certain
circumstances. Foreign debt of the country is 40% of GDP. It grew to
retain the GDP growth and budgetary expenses. Next year and in future,
in 2013-2014, deficit should not exceed 3%. Such is the scenario
we were based upon when forecasting 4.2 GDP growth for 2012," the
prime minister said. He added that economic growth in the industrial,
agricultural and service sectors will be continued next year.
The Government scheduled several big projects for 2012 to boost
economic growth in the country. Tigran Sargsyan said that in the IT
sector a serious growth has been registered in the current year,
which will be retained also in 2012. Several big projects will be
implemented with various international organizations in the given
sector, which will make Armenia a regional center of information
technologies. Our country is considered a regional platform due to
its high intellectual potential.
At present, several hundreds of enterprises operate in the sphere
of IT and telecommunications in Armenia employing 10.000 people and
ensuring 200 million dollars production.
As for the reforms in Armenia, Tigran Sargsyan said that Doing Business
rating in Armenia is being improved, alongside with the international
economic freedom index and information technologies.
The European Union welcomed the reforms carried out in the country,
which allows expecting a solid progress in 2012. The government plans
to increase tax revenues in 2012 by 100 bln drams or 0.6% versus the
current year.
"It is a serious task. So, except administration we must expand
the taxation base. We are drafting new bills to reveal the profits
in various spheres. In fact, we will increase social benefits and
pensions by 10 percent next year. Besides, a social package of civil
servants will be introduced for the first time in the country, which
will allow insuring the health of civil servants and their families
or contributing to repayment of their mortgage loans or education of
their children," the prime minister concluded.
From: A. Papazian
arminfo
Monday, October 10, 14:13
A 3.5 percent economic growth has been registered in Armenia versus
the envisaged annual 4.6%, Prime Minister of Armenia Tigran Sargsyan
said at the meeting of the Trusteeship Council of the National
Competitiveness Fund of Armenia on October 8.
"We regard it as a real indicator. The envisaged 4% + / -
1.5% inflation is also a real figure. In 2011 we will manage to
cut inflation versus 2010, in particular, we are going to enter a
5-percent inflation environment from 10-percent environment," Tigran
Sargsyan said.
The prime minister said that agricultural sector is being rapidly
restored - 21 percentage growth. Industrial sector grew 12-14 percent,
trade turnover -7%, services - 4%. For the first 8 months of 2011
foreign commodity turnover grew 25%, export - 30%, import - 15%-18%.
Tigran Sargsyan said that the national dram exchange rate has been
quite stable within the year.
As for the state budget fulfillment, the premier said that the
budget revenues exceeded the target: taxes are collected without any
deviations, while 50 billion drams savings were registered in the
item of expenditures.
"That is, we wage a restrained policy gathering more taxes and
spending less. Our behavior rule for 2012 will depend on certain
circumstances. Foreign debt of the country is 40% of GDP. It grew to
retain the GDP growth and budgetary expenses. Next year and in future,
in 2013-2014, deficit should not exceed 3%. Such is the scenario
we were based upon when forecasting 4.2 GDP growth for 2012," the
prime minister said. He added that economic growth in the industrial,
agricultural and service sectors will be continued next year.
The Government scheduled several big projects for 2012 to boost
economic growth in the country. Tigran Sargsyan said that in the IT
sector a serious growth has been registered in the current year,
which will be retained also in 2012. Several big projects will be
implemented with various international organizations in the given
sector, which will make Armenia a regional center of information
technologies. Our country is considered a regional platform due to
its high intellectual potential.
At present, several hundreds of enterprises operate in the sphere
of IT and telecommunications in Armenia employing 10.000 people and
ensuring 200 million dollars production.
As for the reforms in Armenia, Tigran Sargsyan said that Doing Business
rating in Armenia is being improved, alongside with the international
economic freedom index and information technologies.
The European Union welcomed the reforms carried out in the country,
which allows expecting a solid progress in 2012. The government plans
to increase tax revenues in 2012 by 100 bln drams or 0.6% versus the
current year.
"It is a serious task. So, except administration we must expand
the taxation base. We are drafting new bills to reveal the profits
in various spheres. In fact, we will increase social benefits and
pensions by 10 percent next year. Besides, a social package of civil
servants will be introduced for the first time in the country, which
will allow insuring the health of civil servants and their families
or contributing to repayment of their mortgage loans or education of
their children," the prime minister concluded.
From: A. Papazian