Thursday, September 28 2017 14:43
Naira Badalian

Vardan Aramyan: Armenia does not plan to sequest state budget-2017

ArmInfo. Sequester of the state budget-2017 is not planned, Armenian Finance Minister Vardan Aramyan stated at a government meeting on September 28, referring to media publications, according to which the Cabinet discusses the probability of sequestration.

"I officially declare that there is nothing like that, we have a very clear ideology that is fixed in the draft budget for 2017 and this course will continue in the budget for 2018 as well," Vardan Aramyan said. in order to display some restraint in the planning of current expenditures, placing emphasis on capital expenditures, which promise to turn into a multiplier effect in the country's economy. "As the finance minister once again stressed, against the backdrop of a growing external debt (by 13 pp) agencies have not made any changes to the rating of Armenia positively assessed the ongoing fiscal policy.

It should be reminded that a week earlier, in a conversation with ArmInfo, Finance Minister Vardan Aramyan denied media reports that during discussions of the budget for 2018, all ministries were internally ordered to cut expenses by about 7% so that available funds were enough to service state debt of the country in the future. The share of the truth in all this, as the Minister of Finance of Armenia Vardan Aramyan told ArmInfo, is that the heads of departments should display some restraint in the formation of current expenses.

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