Thursday, December 1 2016 14:37
Naira Badalian

Armenian Ministry of Finance: Key macroeconomic indices of budget 2017 remain unchanged

ArmInfo. As compared to the initial version, the key macroeconomic indices of the budget 2017 remain unchanged, Armenian Finance Minister Vardan Aramyan said at the Government's meeting on December 1.  

He said that following the parliamentary debates on the draft budget, the Armenian Government has decided to introduce some changes in the revenues and expenditures of the state budget. The changes in the revenues will be made due to the exchange rate fluctuations. As a result, the Government expects the revenues to decline by 11 mln AMD.    

Based on the submitted proposals, the budget expenditures will total nearly 16.1 bln AMD, 13 bln of which will be the VAT refunding. Other capital expenditures will decline by 1.1 bln AMD. 327.4 mln AMD reduction is due to the changes in gas tariffs. Following the optimization of the number of state non-commercial organizations, the Government expects expenditures to decline by 295 mln AMD.

The minister pointed out that the Government is going to increase some expenditures in the budget 2017:  the emergency fund of the Government will be increased by 8 bln AMD. The expenses on the Arpa-Sevan tunnel repair will be increased by 1.9 bln AMD; co-funding of target loans and grants - by 2.1 bln AMD; expenses of provision of housing in the disaster zone  - by 590 mln AMD.

The minister said that economic growth will make up 3.2%, deflator index - 1.7, and the deficit - 150.1 bln AMD. In 2017, the GDP deflator will make up about 101.7%. The budget 2017 revenues are expected to grow by 27 bln AMD to 1 210 bln AMD, and the expenditures are expected to decline by about 13 bln AMD to 1 360 bln AMD (22.4% revenues-to-GDP ratio). In the structure of revenues, tax revenues and state duties will amount to 1 135 bln AMD (versus 1 065 bln AMD in 2016).

POST A COMMENT
Input digits     


News
Plastic bank card blank seller tries to break into analytics market  with analytics stolen from ArmInfoPlastic bank card blank seller tries to break into analytics market  with analytics stolen from ArmInfo
Armenian Picsart enters TOP-20 best apps in  world according to  data.aiArmenian Picsart enters TOP-20 best apps in  world according to  data.ai
Armenian Finance Ministry, WB representatives outline future joint  projectsArmenian Finance Ministry, WB representatives outline future joint  projects
Ambassador Anne Louyot: France is ready to continue assisting Armenia in implementation of both short-term programs and long-term strategic reformsAmbassador Anne Louyot: France is ready to continue assisting Armenia in implementation of both short-term programs and long-term strategic reforms
EEC: Industrial cooperation projects of EAEU may be launched no  earlier than  2024EEC: Industrial cooperation projects of EAEU may be launched no  earlier than  2024
Armenia is interested in reaching early consensus on project to form common EAEU gas marketArmenia is interested in reaching early consensus on project to form common EAEU gas market
Health insurance in Armenia will turn into a monster - Tigran  JrbashyanHealth insurance in Armenia will turn into a monster - Tigran  Jrbashyan
In Jany-Nov 2022, trade turnover between Armenia and EAEU states  increased by more than 90% - PashinyanIn Jany-Nov 2022, trade turnover between Armenia and EAEU states  increased by more than 90% - Pashinyan
Armenia`s IT sector records growth of over 50% in 2022Armenia`s IT sector records growth of over 50% in 2022
Armenia`s minister of economy participates in meeting of the  ministers of economy of EAEU member- states Armenia`s minister of economy participates in meeting of the  ministers of economy of EAEU member- states 
Converse Bank receives its second award this yearConverse Bank receives its second award this year
CBA continues to increase countercyclical capital buffer, supporting  banking sector`s resilience to systemic risksCBA continues to increase countercyclical capital buffer, supporting  banking sector`s resilience to systemic risks
AMD 14bln to be allocated to Armenia`s textile industry AMD 14bln to be allocated to Armenia`s textile industry 
Documentary credit system of payments to developers could be  introduced in Armenia Documentary credit system of payments to developers could be  introduced in Armenia 
Seven Armenian regions to get AMD 1bln under subvention programmes Seven Armenian regions to get AMD 1bln under subvention programmes 
FLYONE ARMENIA airline making promotional offer FLYONE ARMENIA airline making promotional offer 
Possibilities of expanding cooperation in energy and transport  between Armenia, Iran discuss in TehranPossibilities of expanding cooperation in energy and transport  between Armenia, Iran discuss in Tehran
CBA: From H2 2023, inflation will gradually approach targeted 4% in  ArmeniaCBA: From H2 2023, inflation will gradually approach targeted 4% in  Armenia
CBA Head: Inflationary pressure to soften in 2023CBA Head: Inflationary pressure to soften in 2023
Central Bank: Volume of deposits of non-residents in Armenian banks  almost doubled in 2022Central Bank: Volume of deposits of non-residents in Armenian banks  almost doubled in 2022
Martin Galstyan: there is one commonality for all regulators today -  no one knows how to regulate the cryptosector wellMartin Galstyan: there is one commonality for all regulators today -  no one knows how to regulate the cryptosector well
Central Bank is considering possibility of increasing countercyclical  capital buffer by 0.5%Central Bank is considering possibility of increasing countercyclical  capital buffer by 0.5%
Central Bank of Armenia maintains its forecast for 2023 on GDP growth  at 4.6%Central Bank of Armenia maintains its forecast for 2023 on GDP growth  at 4.6%
Armenia`s gross international reserves set a new record of $4.112  billion by 2023Armenia`s gross international reserves set a new record of $4.112  billion by 2023
Health insurance in Armenia: Why does social justice contradict  social solidarity in Health Ministry`s compulsory health insurance  concept and what are risks of State Fund control ?Health insurance in Armenia: Why does social justice contradict  social solidarity in Health Ministry`s compulsory health insurance  concept and what are risks of State Fund control ?
Common Aviation Area Agreement between EU and Armenia enters into  forceCommon Aviation Area Agreement between EU and Armenia enters into  force
Armenia`s CB leaves refinancing rate unchanged Armenia`s CB leaves refinancing rate unchanged 
Nikol Pashinyan to take part in EIC meeting in AlmatyNikol Pashinyan to take part in EIC meeting in Almaty
Armenia`s financial authorities continue loan market dedollarization Armenia`s financial authorities continue loan market dedollarization 
60 Armenian IT companies among Armenia`s 1,000 major taxpayers 60 Armenian IT companies among Armenia`s 1,000 major taxpayers 
Armenia`s minister of economy meets with BostonGene company reps Armenia`s minister of economy meets with BostonGene company reps 
Ameriabank leads Armenian mortgage marketAmeriabank leads Armenian mortgage market
Global Finance: Converse Bank is Armenia`s leading bank in Trade FinanceGlobal Finance: Converse Bank is Armenia`s leading bank in Trade Finance
Expert forecasts that growth of business activity in Armenian economy  to reach 7% this year Expert forecasts that growth of business activity in Armenian economy  to reach 7% this year 
Wizz Air to start operating flights to 4 new routesWizz Air to start operating flights to 4 new routes
ZCMC paid unprecedented taxes in 2022, exceeding the figure of the previous year by almost two and a half times.ZCMC paid unprecedented taxes in 2022, exceeding the figure of the previous year by almost two and a half times.
Armenian NPP comments on Azerbaijani Human Rights Commissioner`s call Armenian NPP comments on Azerbaijani Human Rights Commissioner`s call 
Armenia`s IT sector rapidly developing - reps Armenia`s IT sector rapidly developing - reps 
Armenia, Qatar discuss opportunities for investment cooperation Armenia, Qatar discuss opportunities for investment cooperation 
44,929 more officially registered jobs in Armenia as against last  year44,929 more officially registered jobs in Armenia as against last  year
Italian businesses interested in Armenia`s investment environment Italian businesses interested in Armenia`s investment environment 
Vahan Kerobyan raises Artsakh issue at Global Forum on Food and  Agriculture in BerlinVahan Kerobyan raises Artsakh issue at Global Forum on Food and  Agriculture in Berlin
Corporacion America  CEO expresses readiness to increase investments  in ArmeniaCorporacion America  CEO expresses readiness to increase investments  in Armenia
Loss ratio in CMPTL market decreased from 79% to 66% in 2022 Loss ratio in CMPTL market decreased from 79% to 66% in 2022 
Armenian banks record 3-fold growth in net profit in 2022Armenian banks record 3-fold growth in net profit in 2022
Expert: The development of the cryptosector in Armenia is the key to the involvement of new players, the growth of the tax base and jobs   Expert: The development of the cryptosector in Armenia is the key to the involvement of new players, the growth of the tax base and jobs  
901 transactions to amount of over AMD 56bln effected under economic  modernization programme in 2022901 transactions to amount of over AMD 56bln effected under economic  modernization programme in 2022
Armenia`s economy will not be able to withstand the expansion of  Turkish goods- EconomistArmenia`s economy will not be able to withstand the expansion of  Turkish goods- Economist
Armenia`s government to support hotels in Syunik, Vaiots DzorArmenia`s government to support hotels in Syunik, Vaiots Dzor
In Armenia, terms for removing arrest from citizens` accounts to be  reduced to 1-2 days from previous 7 days or moreIn Armenia, terms for removing arrest from citizens` accounts to be  reduced to 1-2 days from previous 7 days or more
Share of Armenia`s authorized capital in  EDB increased to 4.2291%,  while Russia`s stake in EDB decreased  to 44.7878%  Share of Armenia`s authorized capital in  EDB increased to 4.2291%,  while Russia`s stake in EDB decreased  to 44.7878%  
Armenia, Germany discuss number of issues on cooperation in economic  sectorArmenia, Germany discuss number of issues on cooperation in economic  sector
$350mln to invested in Zvartnots International Airport$350mln to invested in Zvartnots International Airport
Declaration of income: We have not achieved tax egalitarianism -  ExpertDeclaration of income: We have not achieved tax egalitarianism -  Expert
In Jan-Nov 2022, Armenian-Georgian trade turnover doubled compared to  2021, amounting to $759 million- PashinyanIn Jan-Nov 2022, Armenian-Georgian trade turnover doubled compared to  2021, amounting to $759 million- Pashinyan
Irakli Garibashvili announces about 70% increase in foreign trade  turnover with ArmeniaIrakli Garibashvili announces about 70% increase in foreign trade  turnover with Armenia
The beneficiary of The beneficiary of "The Power of One Dram" in January is the educational program "Talentum"
Fly Arna airline announces launch of new nonstop flights to Saint  PetersburgFly Arna airline announces launch of new nonstop flights to Saint  Petersburg
Vardan Aramyan: With the current quality and level of investments,  there is no need to talk about the growth of the economy`s potentialVardan Aramyan: With the current quality and level of investments,  there is no need to talk about the growth of the economy`s potential
Ministry of Economy of Armenia expects that ferry service to start  operating in Q1 2023Ministry of Economy of Armenia expects that ferry service to start  operating in Q1 2023
Read more


Exchange rates
03.02.2023
RUB5.63-0.02
USD396.480.44
EUR433.59-1.38
GBP486.01-1.71
CAD297.12-0.77
JPY30.860.14
CNY58.84-0.16
CHF434.31-0.76