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YEREVAN. – The draft budget for 2020 suggests that nominal GDP will grow in Armenia next year, Finance Minister Atom Janjughazyan said during the budget hearing in the parliament.

The government expects growth from budgeted 6.5 billion drams to 7.01 billion. The index of real GDP will grow bro 104.9% against 106.3% by the end of this year.

At the same time, tax revenues are projected at $ 1 trillion. 602 billion drams, which is 94.4% of the budgeted revenues.

Grants are expected to stand at 33.8 billion drams against 39.5 billion in 2019, while income at 61.7 billion against 55.1 billion confirmed for this year.

At the same time, according to the 2020draft budget, Armenia expects to receive official grants in the amount of 33.8 billion drams from foreign states and international organizations instead of 31 billion drams provided for by the Medium-Term Expenditure Program (MSS).

Atom Janjughazyan said this is due both to adjustments to the size and volume of the proposed amounts, and to changes in calculations because of euro and dollar fluctuations.

 

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