September 28, RA Government approved “2010 State budget” draft bill, submitted by the RA Finance Minister Tigran Davtyan. According to him, the RA economic growth rate in 2010 will reach 1.3%, and that of GDP — 1.3% as well.

Davtyan considers that tight budget implementation process is expected in Armenia. “We will keep working within economy regime, as it is necessary to have balanced budget,” the Minister underlined.

Budget revenue reaches AMD 676.6 bln. (about U.S. $1.8bln), expenditures — AMD 859.6 bln. (U.S. $2.2bln.), while deficit — AMD 183 bln (U.S. $481 m.). Davtyan stated the core expenditures in 2009 were fulfilled at the expense of obtained funds, however in the next year the capacity will be limited.

In Jan.-Aug. 2009 the GDP in Armenia decreased by 18.4 % in Armenia, making AMD 1.8 tn (nearly U.S.$5 bln). Tigran Davtyan said that GDP for 2010 is forecasted at AMD 3.2 tn, at that not excluding that pace of economic growth will be higher.