Armenia’s new finance minister to focus on drawing up realistic budget

22.09.2016 19:03
Armenia’s new finance minister to focus on drawing up realistic budget

YEREVAN, September 22. /ARKA/. Armenia’s newly appointed minister of finance Vardan Aramyan told journalists today that in the next 10 days he will be focusing on the drawing up of  the next year’s  budget, which will be drawn up in a manner so that  taxpayers' money are used sparingly and purposefully.

He noted that the budget is usually drawn up on the basis of economic situation, and should be realistic.

"For example, if the economy has serious problems, a budget with unrealistic tax flows will be tantamount to a bomb. It is very dangerous; we’d better provide to the public the whole situation, to explain why the government’s spending is conservative. My job will be to present the realties to the public.’ Aramyan said.

With regard to macroeconomic situation, the minister said there are different estimates and forecasts – from 2.2% to 3.5% GDP growth , but there are circumstances that need to be considered, for example,   the 2013, which was a shock not only to r Armenia, but also to other countries in the region.

"As a result, financial flows changed their direction from east to west.  This led to foreign exchange pressures with different countries responding in their own ways. There are also sanctions against Russia, with which we are integrated.'  Aramyan said. -0-

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Tags: , Новости Армении АМИ Новости-Армения

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