Wednesday, October 17 2018 13:55

ArmInfo.Acting Armenian Prime Minister Nikol Pashinyan sees no problems if the country's parliament does not have time to adopt the country's budget for the year 2019.   This was announced by Pashnyan on October 17.

"The law envisages such cases, and there will be no problem if we do  not have time to adopt the document," he said. 

According to the Constitution, if the draft budget is not adopted,  then the proportions and expenditures of the previous budget begin to  operate. That is, if the budget of 2019, based on our political  situation, is not adopted, the government will still finance in  accordance with the proportions of the budget of 2018. The fact is  that discussions on the draft budget for 2019 were supposed to start  from October 29: they will last in parliamentary commissions for  about 15 days, and already on November 14 they will be discussed at  the session of the National Assembly. But given the fact that the day  before, on October 16, the head of government resigned, then in two  weeks the parliament will be dissolved and will not have time to  adopt the draft budget of the revolutionary authorities.

The government of Armenia approved the draft state budget for 2019 at  a meeting on September 27. GDP  growth, according to the document,  will be 4.9%, instead of 4.5% laid  down in the approved state budget  for the 2018th year, the  consolidated budget for the next year in  terms of revenues is estimated at 1,533.7 billion AMD (without  revenues from  intergovernmental transfers) instead of 1,343.5  billion drams in  2018, in terms of expenditures - 1,685.3 billion  drams (without  revenues from intergovernmental transfers), against  1,500.5 billion  drams this year, the deficit is about 151.6 billion  drams or 2.2% of  GDP, against 156.9 billion drams pledged for the  2018th year. The sources of financing the budget deficit will be 54.2  billion drams -  domestic sources, and 97.5 billion drams - external.  Community  budgets for 2019 are estimated at 138.9 billion drams in  revenue  (including official grants from the state budget), and in   expenditures - 138.9 billion drams. This year, a figure of 130.1   billion drams was laid. The draft law provides that in 2019, when   making decisions on monetary policy, to the extent allowed by the   law, the central bank will be guided by a target of 12-month   inflation at 4% with a tolerable limit of fluctuations of +/- 1.5% .   In 2019, capital spending from the current 2.3% of GDP will rise to   3%. State treasury revenues will amount to 1 trillion 491 billion  drams (1.308.3 billion drams in the current year), of which tax   revenues will amount to 1 trillion 399.2 billion drams (in 2018,   1,248.5 billion drams) expenses - 1 trillion 642.2 billion drams   (against the current 1,465.2 billion drams. Large) Some 44% of the   state budget will be spent on social and cultural programs, 24% of   all state budget funds will be spent on solving problems related to   maintaining public order, security and defense, and 12.3% will be  invested in the real sector of the economy. In view 3.2% of all   expenditures will be allocated to local governments' budgets and 5.8%   - to government departments. In 2019, the government will spend 10%   of total expenditures on servicing the public debt. The ratio of   public debt to GDP will be 50.4%.