YEREVAN, OCTOBER 31, ARMENPRESS. The program of the 2017 state budget of Armenia reflects the fundamentals of the Government’s program. Acceleration of rates of economic growth is planned for 2017 – up to 3.2% - associated with both external developments and several upcoming 2017 reforms and the influence of tax-budgetary and monetary-loan policies.

Vice President of the Central Bank Nerses Yeritsyan presented the Central Bank’s conclusion on the state budget draft during Parliamentary debates.

“It is noteworthy that during the implementation of the 2017 economic program the Government will put emphasis on the efficient re-distribution of budget revenues and other resources, at the same time continuing the implementation of optimization and cuts of budget expenditures planned during 2016. This will allow implementing a deficit reduction policy simultaneously with contributing to the stabilization of economic growth. In these conditions, importance is attached that the Government’s actions are directed at drastic improvement of the business and investment environment and ensuring increase of competitiveness”, Yeritsyan said.

He added that the 2017 budget deficit will be significantly reduced. ]