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March 28
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YEREVAN. – The state budget deficit of Armenia had to be increased in the year past. 

The aforesaid is noted in the 2016 State Budget performance report, whose debates have begun Monday at the standing committees of the National Assembly.

Accordingly, the deficit amounted to 54 percent slightly more than the annual plan.

The main reason is that the authorities have not reduced social spending.  

Government bond issuance increased to cover the deficit. 

The issuance increased in accordance with the increased risk of insufficient tax collection. As a result, although the deficit-GDP ratio was planned to be reduced to 3.5 percent, it actually increased to 5.5 in 2016. 

In the current year, however, this ratio is envisioned to be reduced to 2.8 percent.

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