Armenia's state budget deficit will amount to GDP 2.3%: IMF prediction

Armenpress 20:02, 24 March, 2014

The International Monetary Fund predicts that Armenia's budget deficit will amount to 2 % of Gross domestic product stimulating economic growth. The Head of IMF Armenian mission Mark Horton stated this in a conversation with the journalists. According to him, 2013 budget deficit was mainly conditioned by the new regulation of some large-scale programs, in particular, construction expenses and procurement process of the "North-South" highway which aims at making the process clearer and  more transparent. ''We expect that the expenses will return to their natural rate this year, and the deficit will be significantly higher exceeding GDP  2% which will be an important stimulus for economic growth,'' he said as reported by Armenpress.

2014 state budget revenues of Armenia amount 1 trillion 135 billion drams, the expenses 1 trillion 245 billion drams. The budget deficit will reach 110 billion drams or GDP  2.3%, the current account deficit will be 8.6%.

 



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