Thursday, November 16 2023 15:11

ArmInfo.Armenia has turned into a car transit country, Artur Khachatryan, a member of the opposition  faction Armenia, RA Parliament, stated as he commented on the 2024 draft budget. 

The MP noted that the high growth rates of the country's economy were  the result of the Russian-Ukrainian conflict, as a result of which  Armenia's trade turnover with Russia increased due to re-export,  transit of cash and human flows. As an example, Khachatryan cited a  58.4% increase in imports of cars, which were then exported to  Russia. "Armenia has become a country of automobile transit," the  oppositionist said.

As for the labor market, as Khachatryan emphasized, an interesting  picture is observed here too. In the first quarter of this year  alone, 26 thousand Armenian citizens left the country, whose places  were taken by Indians and Pakistanis.

The MP also raised the issue of state security. He noted that against  the background of aggressive rhetoric on the part of Azerbaijan, the  7.3% increase in the budget of the country's defense department is  not enough. At the same time, the oppositionist drew attention to  another figure included in next year's draft state budget - a 16%  increase in allocations for the law enforcement system. "It turns out  that the country's authorities fear their own citizens more than  external enemies," Khachatryan said.

The MP sharply criticized the "Crossroads of the World" project  initiated by the RA authorities, noting that this project is devoid  of any economic feasibility.

According to the draft state budget, in 2024 the economic growth rate  is planned at a level of at least 7%.  State treasury revenues are  provided at 2 trillion 566 billion drams, which is 15.4% higher than  the plan for 2023, and expenses - 3 trillion 17 billion, or 15.9%  higher. Among expenses, capital expenditures will amount to 695  billion drams, or 22% more than the plan for 2023. At the end of next  year, the tax-to-GDP ratio is planned to increase by 0.75%. The  budget deficit will be about 340 billion drams or 3.2% of GDP.  As a  result, by the end of 2024, the government's public debt to GDP ratio  will be 48.4%, that is, below 50%.