YEREVAN. – We have bigger dreams than the means to fulfill them, and this is true for the state too.
The Minister of Finance of Armenia, Atom Janjughazyan, stated the above-said at a press conference on Thursday. He noted this as he presented the 2019 State Budget draft.
In his words, this budget projects a real economic growth of 4.9 percent in the country.
“The previously projected 5.3-percent economic growth is [actually] smaller than the 4.9 percent being projected now,” the minister said, and explained: “The base, on which the 4.9-percent growth is calculated, has changed.”
Janjughazyan stressed that the 2019 State Budget revenues are projected at AMD 1.399 trillion, whereas the expenditures will total AMD 1.642 trillion.
“The [government] debt will be stabilized and it will have a lower level than it was expected in 2018,” the minister added. “The government debt/GDP ratio will make up 50.4 percent.”
When asked how he assesses the next year’s budget, Janjughazyan replied: “This is not the budget of our dreams. (…). We have more ambitions.”
The minister underscored the selection of the economic model and the structural reforms.
“Next is the tax system, which should be fair and effective,” Atom Janjughazyan added, in particular.
