The National Assembly on Thursday approved—with 64 votes in favor and 23 votes against—the report on the “performance” of the 2017 State Budget of Armenia.
According to this report, the country’s economic growth in the year past totaled 7.5%, though 3.2% was envisaged. As per this report, the economic growth in Armenia is about double the economic growths that were recorded both in global economy and in the other Eurasian Economic Union countries—Russia, Belarus, Kazakhstan, and Kyrgyzstan.
The average inflation rate in the country was 1%, the average monthly salary was 195,000 drams (approx. $400), and unemployment dropped by 0.2% and was 17.8%.
The current account deficit made up 3.5 percent of the GDP, and it is approaching the long-term stable level.
Exports grew by 21.2%, while imports—by 28.8%; foreign trade increased by 26.9%, over the previous year, and made up $6.4 billion.
The 2017 State Budget revenues totaled 1 trillion and 238 billion drams, whereas the expenditures amounted to 1 trillion and 505 billion drams. At present, US$1 is equivalent to approximately 483 drams.