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ARMENIAN BUDGETS BASED ON SOUND GROWTH IN 2013
Agence France Presse
December 5, 2012 Wednesday 11:05 AM GMT
Armenia's parliament approved on Wednesday a 2013 budget which foresees
sound economic growth but was criticised by the opposition for not
addressing the needs of poor families.
The budget forecasts that the country's gross domestic product will
grow by 6.2 percent next year with inflation projected at about
4.0 percent.
With budget revenues put at 1.327 trillion Armenian drams ($3.3
billion/2.5 billion euros) -- a 13 percent year-on-year increase --
and expenditures planned at 1.525 trillion drams ($3.7 billion/2.9
billion euros), the budget deficit will amount to 2.6 percent of GDP.
The opposition parties have refused to endorse the proposed budget
and criticised it for failing to increase social spending in the
impoverished country.
"We are not taking risky commitments ... as we need to guard the
country from additional risks," Prime Minister Tigran Sargisian told
lawmakers before the vote.
A landlocked country of 3.2 million that was badly affected by the
global downturn, Armenia is economically isolated because its borders
with two neighbours Turkey and Azerbaijan have long been closed owing
to political disputes.
mkh-im/sjw/hd
Agence France Presse
December 5, 2012 Wednesday 11:05 AM GMT
Armenia's parliament approved on Wednesday a 2013 budget which foresees
sound economic growth but was criticised by the opposition for not
addressing the needs of poor families.
The budget forecasts that the country's gross domestic product will
grow by 6.2 percent next year with inflation projected at about
4.0 percent.
With budget revenues put at 1.327 trillion Armenian drams ($3.3
billion/2.5 billion euros) -- a 13 percent year-on-year increase --
and expenditures planned at 1.525 trillion drams ($3.7 billion/2.9
billion euros), the budget deficit will amount to 2.6 percent of GDP.
The opposition parties have refused to endorse the proposed budget
and criticised it for failing to increase social spending in the
impoverished country.
"We are not taking risky commitments ... as we need to guard the
country from additional risks," Prime Minister Tigran Sargisian told
lawmakers before the vote.
A landlocked country of 3.2 million that was badly affected by the
global downturn, Armenia is economically isolated because its borders
with two neighbours Turkey and Azerbaijan have long been closed owing
to political disputes.
mkh-im/sjw/hd