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Ministry Of Finance: Armenian Budget Deficit At 6.5-7% In 2009

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  • Ministry Of Finance: Armenian Budget Deficit At 6.5-7% In 2009

    MINISTRY OF FINANCE: ARMENIAN BUDGET DEFICIT AT 6.5-7% IN 2009

    ARKA
    Sep 30, 2009

    YEREVAN, September 30. /ARKA/. Armenian budget deficit is expected
    at about 6.5-7% by the end of this year, the country's Minister of
    Finance Tigran Davtyan said.

    "We were attracting funds from external sources to compensate for
    the gap between incomes and expenditures. It was not easy, even the
    parliament allowed us bringing the budget deficit to 7.5%. I think
    we will manage to maintain the deficit within this range and will
    have deficit at 6.5-7% by the end of the year," the Minister told a
    press conference Tuesday.

    This will enable the government maintaining its anti-cyclic policy
    and social and defense expenditures' level, Davtyan said.

    On-budget expenditures are to total 900-910 billion drams in 2009,
    hence the main part will be fulfilled (planned budget expenditures
    at 945 billion drams), he said.

    The government responded to the crisis promptly and part of the
    expenditures (e.g. on state machine and procurement of equipment)
    was deferred. Yet, no expenditure related to promotion of the economy
    has been postponed, Davtyan said.
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