Armenian government narrows budget deficit and spending by AMD 10.4 billion

22.07.2016 18:52
Armenian government narrows budget deficit and spending by AMD 10.4 billion

YEREVAN, July 22. /ARKA/. Armenia’s government decided Thursday to narrow budget deficit by AMD 10.4 billion.

It has become possible thanks to proposals to cut expenses to ensure a proper performance of the government budget.

At the proposal of Gagik Khachatryan, finance minister, spending on maintenance of 142 of office cars has been cut, and as a result, AMD 91 million has been saved (indicator for six months).

In the government budget for 2016, spending is projected at AMD 1 trillion 377 billion (25.3% spending-GDP ratio) and revenue at AMD 1 trillion 186.3 billion (21.8% revenue-GDP ratio) and deficit at AMD 197 billion (3.5% deficit-GDP ratio).

Tax and customs revenue in the budget is projected to total AMD 1 trillion 129 billion. ($1 – AMD 476.56). --0----


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