ArmInfo. There was no sequestration of the state budget-2016, Armenian Finance Minister Vardan Aramyan told reporters on July 16 at a press conference.
Commenting on the rumors about the fact that after the April events the Armenian government went on a budget review, Vardan Aramyan stated that the sequestration of expenditure items was not applied.
In addition, the planned indicator of the expenditure part of the budget-2016 in 1 trillion 376 billion AMD was exceeded. "Within the framework of the countercyclical policy, the budget expenditures were overfulfilled and by the end of the year amounted to 1 trillion 440 billion AMD," the head of the Armenian Ministry of Finance said.
To recall, according to the state budget of Armenia for 2016, the expense item was fixed at the level of 1 trillion 377 billion AMD (expenditure/GDP ratio 25.3%), and profitable - 1 trillion 186.3 billion AMD (income/GDP ratio 21.8%) with a deficit of 197 billion AMD (deficit/GDP ratio 3.5%). In the state budget, the real GDP growth for 2016 was envisaged at a rate of 2.2%, the GDP deflator index - at a rate of 4%, 12- month inflation - at 4% (+ 1.5%), and the state budget deficit - at 3% , 5% of GDP. Nevertheless, by the end of the year, GDP growth remained at the level of 0.2-0.3%, under-collected taxes and exceeded the planned deficit level in the state budget by 2%.
