News
Show news feed

YEREVAN. – The 2015 State Budget deficit of Armenia grew strongly, and the new expenditures helped maintain economic activity.

Arthur Javadyan, Chairman of the Central Bank of Armenia, on Monday noted the above-said at the parliamentary committee debates on the “performance” of last year’s state budget.

In his words, the deficit increased because the state budget revenues reduced by 0.5 percentage point (up to 23.1%) against the GDP in 2015, as compared to the previous year, whereas the expenditures went up by 2.4 percentage points and amounted to 27.9 percent of the GDP.

As per Javadyan, due to the much lower GDP growth than expected, the national debt against the GDP reached 48.7 percent by the year’s end.

At the same time, the negative balance of trade reduced, along with the current account deficit also by 4.6 percentage points, up to 2.6 percent of the GDP.

And so, imports decreased by 26. 5 percent (up to $3 billion 254 million), whereas exports fell by a mere 3.9 percent (up to $1 billion 487 million).

“Overall, the financial indicators of Armenia are within manageable limits,” Arthur Javadyan assured.

!
This text available in   Հայերեն and Русский
Print
Read more:
All
Photos