Thursday, September 28 2017 16:43
Naira Badalian

The Armenian government does not plan salary and pension growth in 2018

ArmInfo. The government of  Armenia in 2018 does not plan to revise the budget expenditures for  social purposes. The Minister of Finance of Armenia Vardan Aramyan  announced this on September 28 after the meeting of the government,  during which the project "State Budget-2018" was approved.

The Minister noted that next year the Government is not going to  increase social expenditures. "We are striving to stabilize our  economic opportunities and potential, and only after that to initiate  new social commitments," Aramyan said. Otherwise, as the minister  pointed out, it is very dangerous to take such steps. In particular,  if it fails to provide a 4-5% GDP growth, the state will be forced to  attract credit funds to cover new social obligations. "Attracting  loans to issue increased pensions and salaries is at least dishonest  in relation to the population," said the head of the Armenian  Ministry of Finance. The Armenian government today approved the draft  budget for 2018. The total revenue of the state budget for 2018 is  planned at a rate of 1 trillion 307 billion AMD, spending - 1  trillion 464.2 billion. The draft budget provides for the growth of  current expenditures in the range of 2-2.5%. At the same time,  capital expenditures increased by 80%, which will be used to  implement infrastructure projects, to provide the basis for the  expected economic growth. The deficit/GDP will be 2.7% - 156.9  billion, of which about 80 billion will be financed from external  sources, the rest from internal resources.

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