Armenia’s on-budget expenditures are to total 1,000bn AMD (about U.S. $2.7bn) – 69bn AMD (U.S. $190m) more than in 2010, RA Minister of Finance Tigran Davtyan told reporters.

According to him, social expenditures will mainly be increased. Social and cultural expenditures will constitute 42-44 of Armenia’s on-budget expenditures. A total of 1.6bn AMD (U.S. $4.4m) will be allocated for compensations to depositors of the USSR Savings Bank, which is much more as compared with the previous years.

The education expenses will increase due to capital investments, but teachers’ salaries will not be considerably increased. According to the Minister, teachers’ average monthly salaries are 116,000 AMD (U.S. $320), which is relatively higher than in other sectors. A total of 1bn AMD (U.S. $2.7m) will be allocated to the scientific sector, an increase of 12% as compared with last year. Scientists’ salaries will be increased as much.