YEREVAN. – The entire amount, which Armenia’s state budget had envisioned to pay for this year’s business trips abroad, has already been spent as of October 8, the Finance Ministry bulletin submitted to the Government reports. In addition, the Government Reserve Fund is used up.   

The agenda of Thursday’s Cabinet session includes a decision whereby an additional AMD 100 million and AMD 12.1 billion will be allocated for foreign business trips and to the Reserve Fund respectively.

To note, an annual amount of close to AMD 3.5 billion is allocated from Armenia’s state budget for official business trips, and the majority of that amount is spent on the business trips abroad.

The Government Reserve Fund, on the other hand, shall not exceed five percent of the budget spending, and this constitutes approximately AMD 52 billion for 2012.  

In line with the current exchange rate, US$ 1 is equivalent to approximately AMD 408.