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YEREVAN. – The draft 2016 State Budget of Armenia may be insurmountable.

Opposition Prosperous Armenia Party former MP, economist Vardan Bostanjyan, stated the above-said at a press conference on Tuesday.

“We [i.e. Armenia] have cut the cost planning by 8.6 billion [Armenian] drams [(AMD)]; this is a more restrained approach,” Bostanjyan explained. “But aside from the numbers, we have difficulties also in the matter of effectiveness of governance, which need to be resolved.”

The draft 2016 State Budget of Armenia envisions AMD 1 trillion 219.5 billion in revenues, AMD 1 trillion 411.9 billion in expenditures, and therefore a budget deficit of AMD 192.4 billion. In US dollars (USD), these numbers are equivalent to approximately USD 2.52 billion, USD 2.92 billion, and USD 398 million, respectively.

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