YEREVAN, November 14. /ARKA/. The U.S. government’s budget deficit rose sharply in October to $120 billion versus $98 billion from the same month a year earlier, according to the U.S. Department of the Treasury.

Last week  President Obama declared on raising taxes on the wealthiest Americans, that is the only way to reduce the deficit, rbc.ru reports.

President Obama promised to raise the tax rates on income over $250,000.
The American analysts anticipated the U.S. government deficit to hit $113 billion. —0-

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The U.S. trade deficit narrowed in April, as a sharp pullback in imports and exports to the euro zone suggested the region’s troubles are increasingly washing up on U.S. shores, according to news reports

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Gagik Minasyan, chairman of the National Assembly’s financial and budgetary committee, speaking Wednesday at a news conference, said that the 3.1% budget deficit projected for 2012 poses no threat to the country’s macroeconomic stability.

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Bagrat Asatryan, former chairman of the Central Bank of Armenia, speaking Thursday at a news conference, said the country’s trade deficit is set to grow further because the country’s imports exceed exports 4 times.

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MP: government’ initiative to set price rise ceiling can lead to commodity deficit in Armenia.

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Jean-Michel Happi, head of the World Bank Yerevan Office, said today the Armenian budget deficit will drop from current 8% of the GDP to 3% in late 2012.

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Fitch Ratings has affirmed Armenia’s Long-term foreign- and local currency Issuer Default Ratings (IDR) at ‘BB-‘ respectively.

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The six percent deficit-to-GDP ratio planned in Armenia’s 2010 state budget is quite realistic, Mark Lewis, the head of International Monetary Fund’s mission in Armenia said.

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