ArmInfo. A 10% increase in pensions, according to preliminary calculations, will cost the State treasury of Armenia an additional 25 billion drams. On July 11 after the meeting of the Cabinet in an interview with journalists, Finance Minister Atom Janjughazyan said.
Earlier, Prime Minister of Armenia Nikol Pashinyan at a government meeting, recalling that the previous evening, the Cabinet of Ministers at a closed meeting approved the medium-term spending program for 2020-2022, said that from January 1, 2020, pensions will be increased by 10% in Armenia. The increase will affect about 560 thousand citizens. In the meantime, from July 1, soldiers will receive an increased salary, and teachers' salaries will increase from September 1.
When asked if the Armenian budget will manage this increase, the minister recalled that the state treasury has traditionally been a source of income for taxes and borrowings. In this context, he said that in the medium term, the Government of Armenia expects annual tax growth to GDP in the range of 0.4-0.5 percentage points. At the same time, as the chief financier pointed out, this is not the limit. The government will continue to work in the direction of <improvement> indicator. At the same time, the head of the Ministry of Finance stressed that the policy of the financial authorities of the country will continue to be balanced, so as not to harm the business.
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