Armenian Authorities’ Economic Policy Has Shielded Country From Consequences Of Global Crisis

15.11.2011 21:54
Armenian Authorities’ Economic Policy Has Shielded Country From Consequences Of Global Crisis

YEREVAN, November 15. /ARKA/. Armenian authorities’ right economic policy has shielded the country from grave consequences of the global crisis, Gagik Melikyan, MP from the ruling Republican Party of Armenia, said on Tuesday.

“Thanks to reorganization of the economy, Armenia is gradually returning to stable development,” he said. “Our economy grew less vulnerable and more flexible and resistant to adverse impacts.”
Melikyan said that the country has already restoring its pre-crisis indicators.

He stressed the importance of social orientation of the government budget, which allocates a great deal of money for social sector’s programs.

It is proposed in the 2012 draft government budget to earmark 48.3% of budget funds for human development, social security, health care, education, science and culture.

“Special attention is paid to improvement of vulnerable categories of people,” the lawmaker said. “Pensions and benefits are expected to be raised by 10% in 2012.”

On Tuesday, National Assembly embarked on discussing the 2012 draft government budget.

The budget revenue is projected at AMD 910 billion, spending AMD 1042.5 billion and deficit 132.5 billion here.

In this draft budget, revenue is planned to be enlarged by 6.8% in 2012, compared with 2011 (AMD 852.4 billion) and spending is projected to grow by about AMD 41.5 billion. ($1 = AMD 384.45). –0—


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