YEREVAN. – In 2014, the GDP share in social spending will rise from 6.7 percent to 7.7 percent in Armenia.

First Deputy Minister of Finance Pavel Safaryan noted the aforesaid at Friday’s National Assembly discussions devoted to the 2014 State Budget.

On his part, Labor and Social Affairs Minister Artem Asatryan informed that the social spending will comprise 29.1 percent of the 2014 budget expenditures.  

A substantial increase is envisioned in labor pensions. In 2014, a total of 16,8 percent more will be allocated for their payment than that in 2013.

Also, 25.4 percent more than that in 2013 will be allocated to pay the pensions of military officers and their families. 

Social pension spending will increase by 10.9 percent, but the same amount—as that in the 2013 budget—will be allocated to pay the social benefits of poor families