Armenian Parliament approves governmental report on 2015 state budget fulfillment

Earlier, when presenting the report, Deputy Minister of Finance, Chief Treasurer of Armenia Atom Janjughazyan said the state budget of 2015 had completely fulfilled. In 2015, GDP growth rates totaled 3% versus the targeted 4%. He said the unfavorable situation with the economies of the partner-countries, the falling global metal prices, reduction of the money remittances from Russia, has affected dramatically the incomes of households in Armenia. The falling financing of the country's economy also had an adverse effect on the situation. 

 

Ultimate consumption last year decreased by 6.5%, capital investments - by 5.1%. Private investments in the capital construction fell by 8.9%, amid growth in the government investments. Inflation for the period under review averaged 3.7%, which meets the target range. The average salary increased by 7.8%, including 8.8% in the state-run enterprises and 6.6% in the private sector.  The average level of unemployment in the period under review made up 18.5%. 

 

The unfavorable balance of trade also fell as compared with the previous year. Foreign trade turnover in 2015 totaled $4.741 billion, falling by 20.6% as compared to 2014. Imports dropped by 2.9%, and exports - by 3.9%. 

 

To recall, in 2015 actual revenues amounted to 1167.7 bln AMD, or 93.5% of the adjusted plan ($2.43 bln at the current exchange rate). Actual expenditures totaled 1409 bln, or 99.6% of the adjusted plan.