Wednesday, February 8, 2023
No Result
View All Result
Asbarez.com
NEWSLETTER
ՀԱՅ
  • Home
  • Top Stories
  • Community
  • Arts & Culture
    • Art
    • Books
    • Music
    • Theatre
    • Critics’ Forum
  • Op-Ed
    • Editorial
    • Opinon
    • Letters
  • Columns
    • By Any Means
    • My Turn
    • Three Apples
    • Community Links
    • Critics’ Forum
    • My Name is Armen
    • Living in Armenia
  • Videos
  • Sports
  • Home
  • Top Stories
  • Community
  • Arts & Culture
    • Art
    • Books
    • Music
    • Theatre
    • Critics’ Forum
  • Op-Ed
    • Editorial
    • Opinon
    • Letters
  • Columns
    • By Any Means
    • My Turn
    • Three Apples
    • Community Links
    • Critics’ Forum
    • My Name is Armen
    • Living in Armenia
  • Videos
  • Sports
No Result
View All Result
Asbarez.com
ՀԱՅ
No Result
View All Result

Armenian Government Approves 2010 Budget

by Asbarez Staff
December 3, 2009
in Armenia, News
0
Share on FacebookShare on Twitter
ARM_0037 copy1 (Small)
Armenian Finance Minister Tigran Davtyan

YEREVAN (ARKA)–The Armenian government approved on Thursday the final version of next year’s budget and is set to submit it to parliament for consideration and approval, Finance Minister Tigran Davtian told reporters.

The 2010 budget calls for 742 billion Drams in revenues, 65 billion Drams up from the initially projected target. Some 570 billion Drams are projected to be collected in taxes, which will allow the government to raise the taxes-to-GDP ratio to 17.7% instead of the earlier planned 16.6%.

The budget calls for 935 billion Drams in expenditures, an increase of 75 billion Drams from the initial target of 859 billion Drams. The deficit is projected at 193 billion Drams

He said the revised version incorporates a set of proposals and suggestions made by lawmakers during parliamentary hearings on the budget.

According to Davtian, the initial version that was being drafted in the summer underwent substantial revisions later as the macroeconomic indices were changing.

He admitted that the budget gap is relatively high, saying that the government will be working to reduce it gradually to pre-crisis levels, but noted that the budget does not include a privileged loan and a grant pledged by the European Union. If those figures are calculated, he explained, budgetary spending for next year will exceed 2009 levels.

The budget also earmarks 1.7 billion Drams to be used to compensate for depreciated Soviet-era bank deposits.

He said the government expects the economy to grow by 1.2% in 2010.

Tags: alignleftapprovalARKAarmenian governmentattachmentbankbank depositsbudgetbudget callsbudget gapcaptionconsiderationcrisis levelsDavtianDavtyandeficitDramsDramsHeeconomyEuropeaneuropean unionexpendituresFinancefinance ministergapgdpgdp ratiogovernmentgrantincreaseinitial targetinitial versionlawmakersloanministerParliamentparliamentary hearingsproposalsratiosetSoviet-eraspendingsubstantial revisionssummertargetThursdaytigranUnionversionwidthyearyerevan
Asbarez Staff

Asbarez Staff

Next Post

HSBC Donates to Help Fund the ‘Classroom of the Future’ at Chamlian

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Kassakhian Re-Appointed to New Motor Vehicle Board

Glendale Mayor Kassakhian Named President of State’s New Motor Vehicle Board

7 hours ago

Parliament Allows Prosecutors to Charge Opposition Leader

8 hours ago

Connect with us

  • About
  • Advertising
  • Subscribe
  • Contact

© 2021 Asbarez | All Rights Reserved | Powered By MSDN Solutions Inc.

No Result
View All Result
  • Home
  • Top Stories
  • Community
  • Arts & Culture
    • Art
    • Books
    • Music
    • Theatre
    • Critics’ Forum
  • Op-Ed
    • Editorial
    • Opinon
    • Letters
  • Columns
    • By Any Means
    • My Turn
    • Three Apples
    • Community Links
    • Critics’ Forum
    • My Name is Armen
    • Living in Armenia
  • Videos
  • Sports

© 2021 Asbarez | All Rights Reserved | Powered By MSDN Solutions Inc.