Central Bank expects Armenia’s budget deficit to decline by yearend
Armenia’s budget deficit in 2018 will decrease a Central Bank Board member Artur Stepanyan told reporters today.
He said as a result of the coordinated work, the government managed to save budgetary resources earmarked originally for public procurement and capital expenditures. However, he could not name specific figures, saying they will be presented soon by the Ministry of Finance.
Armenia’s state budget deficit in the first 10 months of 2018 stood at 34.8 billion drams, according to the monthly review of the Eurasian Development Bank (EDB), down from 127 billion drams budget deficit in the same time span of 2017.
The EDB said the improvement was achieved by an increase in budget revenue collection rate, when compared to last year and a reduction in budget spending. The budget revenues in the first 10 months of this year amounted to 1.066.9 trillion drams, and the spending to 1.101.7 trillion drams.
The 2018 budget calls for 1 trillion and 308 billion drams in revenue and 1 trillion and 307 billion drams in spending. The projected deficit is 156.9 billion drams. The projected economic growth is 4.5%, and the inflation is 4% (± 1.5%). ($ 1 - 484.7 drams). --0--