Minister says next year budget is best secured against risks
YEREVAN, October 8. / ARKA /. The government’s draft budget for 2016 with the 2.2% projected economic growth is the best scenario secured against risks, economy minister Karen Chshmarityan said on Thursday.
He described the draft budget as ‘realistic’ saying also that the economic growth and budget revenues will be higher than foreseen, but the maximum risk insurance does not exclude the possibility of higher figures.
The minister noted that in 2016 the global economy will be expecting growth in 2017 to be driven by the economies of the US and China.
In this regard, he did not rule out a possible positive effect of these economies on the Armenian economy in 2016 and 2017.
The draft 2016 budget, approved by the Armenian government on October 1, projects a 2.2% GDP growth, a 4% GDP deflator index, 12-month inflation at 4% (± 1.5%) and a budget deficit of 3.5% of GDP. The budget calls also for 1.373 trillion drams in revenues and 1.183 trillion drams in spending. The projected deficit is 197 billion drams.
According to the National Statistical Service, revenue collection rate in the first six months of 2015 grew by 0.4% year-on-year to 553.8 billion drams, while spending surged by 16% to 605.9 billion drams. The budget deficit was 52 billion drams. ($1 – 472.37 drams). -0-
He described the draft budget as ‘realistic’ saying also that the economic growth and budget revenues will be higher than foreseen, but the maximum risk insurance does not exclude the possibility of higher figures.
The minister noted that in 2016 the global economy will be expecting growth in 2017 to be driven by the economies of the US and China.
In this regard, he did not rule out a possible positive effect of these economies on the Armenian economy in 2016 and 2017.
The draft 2016 budget, approved by the Armenian government on October 1, projects a 2.2% GDP growth, a 4% GDP deflator index, 12-month inflation at 4% (± 1.5%) and a budget deficit of 3.5% of GDP. The budget calls also for 1.373 trillion drams in revenues and 1.183 trillion drams in spending. The projected deficit is 197 billion drams.
According to the National Statistical Service, revenue collection rate in the first six months of 2015 grew by 0.4% year-on-year to 553.8 billion drams, while spending surged by 16% to 605.9 billion drams. The budget deficit was 52 billion drams. ($1 – 472.37 drams). -0-