Budget deficit to amount to AMD 110.5 billion in 2014

28.09.2013 18:59
Budget deficit to amount to AMD 110.5 billion in 2014

YEREVAN, September 28. /ARKA/. Armenian Finance Minister David Sargsyan, presenting today the 2014 draft government budget to the Cabinet, said the budget deficit will amount to AMD 110.5 billion in 2014, revenue to AMD 1 trillion 127 billion 400 million and spending to AMD 1 trillion 237 billion 900 million.

“Tax and duty revenue will make up 23.1% of GDP and deficit 2.3% of GDP,” he said.

The minister said that expenses for social area will make up 45.6% of the 2014 spending, expenses for ensuring defense public order and national security about 21.1%, for developing economy’s segments 11.7% and for providing subsidies to provinces 3.3%.

Sargsyan also said that expenses for payment of salaries will grow by AMD 36.6 billion, compared with 2013, for payment of pensions by AMD 34.1 billion, for social benefits by AMD 4.8 billion and for science by AMD 1.8 billion.

In the 2013 consolidated government budget, revenue was planned at AMD 1.033 trillion and spending at AMD 1.152 trillion.

Tax and state duty revenue was planned expected to total AMD 993.08 billion in 2013 – by AMD 118.7 billion more than the amount projected for 2012. The 2013 deficit is projected at AMD 119.7 billion or 2.6% of GDP. ($1 – AMD 405.86). ----0---

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