We expect expenditures less by 70 billion: 2017 state budget draft under discussion
Today at the discussion of 2017 state budget draft in the NA, PM Karen Karapetyan noted that next year the shocks in outer world will have negative influence on our economy, “We want to form our budget with decreasing deficit. We plan 3.2 percent economic growth level to the GDP. The tax and budget policy will become comprehensive and transparent. So that we don’t have deficit rise, and not to put pressure on business sphere, so that they can reproduce; for next year normal platform will be formed, more active economic situations.” Minister of Finance Vardan Aramyan noted in his report that for the macroeconomic environment stability must be maintained, “We plan growth in agricultural services, but some decrease in the construction sphere. The index of exportation will be progressive. Monetary-loan market has had humble tempos this year; next year during the period of economic restoration crediting will be a little higher, monetary base will grow. The state debt to the GDP will make up 54.5 percent, next year the tempos of taking credits must be gradually decreased. We should have more conservative behavior. Taxes-GDP proportion will make up 27 percent; it will grow by 0.3 percent next year at the expense of bureaucracy and legislative amendments. We expect expenditures less by 70 billion. By the way, capital expenditures are planned to some 95 billion, which will be implemented with the financing by foreign donors in order not to endanger our tax and budget policy. Deficit will make up AMD 150 billion- 2.8 percent in the GDP. Consequently, next year expenditure will make up 22.4 percent, incomes- 25.2 percent.” He thinks that the expenditures will be deployed in three main priorities; social sphere, security and ensuring economic potential.
