ArmInfo. Armenian Prime Minister Nikol Pashinyan is right - the budget for the 2019th year is inertial. Such an opinion on October 9 at a meeting with journalists, said an expert in the field of public finance management Artak Kyurumyan.
According to him, if we compare the current text of the draft budget with that indicated in the approved main financial document for the 2018th year, we can see that there are no significant changes. The document, he believes, is built in the spirit of the "Budget 2018" both in terms of costs and expected revenues. But, since it was built as part of the implementation of program budgeting, the authors of the current document tried to "clear" it of unnecessary and unjustified expenses.
In addition, according to Kyurumyan, the state budget is a dynamic document. Even after it is approved by parliament, the government, as necessary, is authorized to make certain adjustments to the document. At present, an expert in the field of state finance management believes that the growth rate of GDP laid down in the RA Law on the State Budget for 2018 at 4.5% is not only achievable, but perhaps Armenia will exceed it to 6-6.5%. As for the growth forecast next year, according to Kyurmyan, having laid a 4.5% growth rate in the draft state budget for the next year, the financial authorities of the country in a certain sense insured their risks. "Taking into account all possible external and internal risks, I think that economic growth in Armenia will be in the range of 4-6%," he said.
The government of Armenia approved the draft state budget for 2019 at a meeting on September 27. Income is 1.5 trillion AMD, expenditure - 1.6 trillion drams, the deficit is about 150 billion drams. According to the draft state budget, capital expenditures will increase compared to 2018 - instead of 2.3% of GDP expected in 2018, they will amount to 3% of GDP in 2019. Tax revenues for 2019 are planned in the amount of $ 1 trillion. 396 billion AMD, which will allow spending $ 1 trillion. 614 billion AMD, with a deficit of 2.2% of GDP, or about 150 billion AMD. The main share in the structure of expenditures falls on the social and cultural spheres - about 44% of all expenditures, on defense, security and public order - 24%, the real sector of the economy - 12.3%, about 10% of the state budget will be used to service the public debt, 3.2% - for subsidies to community budgets, 5.8% - expenditures of state authorities. According to the state budget, economic growth in Armenia in 2019 will be 4.9%, and inflation - 2.7%. Meanwhile, the total revenue of the state budget for 2018 is planned in the amount of $ 1 trillion 308 billion AMD, expenses - 1 trillion. 307 billion AMD. The deficit is planned in the amount of 156.9 billion drams. Economic growth for 2018 is planned at 4.5%, and inflation at 4% (+ 1.5%).