YEREVAN, SEPTEMBER 28, ARMENPRESS. No change in social expenditures and increase in pensions and salaries are expected in Armenia under the 2018 state budget, finance minister Vardan Aramyan told reporters after the Cabinet meeting on September 28, reports Armenpress.           

He said the government firstly wants to stabilize the economic opportunities and potential. “Based on that we will assume new social responsibilities. The most important golden rule is that when you once undertake a social commitment, you should be able to constantly pay both the pensions and salaries with your own incomes. Otherwise, if the economic potential and capacities are still weak, it’s very dangerous to undertake that step since if you are unable to ensure 4% or 5% economic growth on average to ensure the ongoing commitments, you will have to take a loan to pay the pension and salary, however, this will be at least a dishonest step by us towards the people”, Aramyan said.

The Armenian government approved the draft budget for 2018. Next year’s budget will be 1 trillion 307 billion drams in terms of revenues – 100 billion more than in 2017, at the expense of tax revenues. The spending part of the budget is planned at 1 trillion 464 billion drams – against this year’s 1 trillion 360 billion. The deficit will be around 157 billion drams – against this year’s 150 billion. Nearly 80 billion drams of the 2018 deficit is planned to be received from domestic sources, and the remaining from external.