YEREVAN. – The National Assembly of Armenia on Monday adopted the 2015 State Budget performance report, with a vote of 88 for and 15 against, and 14 abstentions.

Over the course of the year past, the 2015 budget expenditures of the country increased by 8.4 percent and reached Armenian drams equivalent to approximately US$ 2.95 billion at the current exchange rate, and the performance of expenditures amounted to 99.6 percent.

In addition, the budget deficit against the GDP increased and reached 4.8 percent.

The objective of the Armenian government’s expansionary fiscal policy was to support the economy, and due to the unfavorable situation in Russia and the low stock exchange prices of metals.

In the year past, however, the economic growth in Armenia was 3 percent, instead of the expected 4.1 percent.