Saturday, November 16 2019 13:47
Alexandr Avanesov

Member of Council of Elders: The draft budget of Yerevan for 2020 is  regressive and non-efficient 

Member of Council of Elders: The draft budget of Yerevan for 2020 is  regressive and non-efficient 

ArmInfo. The draft budget of Yerevan for 2020 is regressive and non-efficient. The head of the "Luys" faction of the Council of Elders of Yerevan, David Khazhakyan,  wrote about this on his Facebook page. According to him, the  presented document provides for the most serious budget deficit of 9  billion drams over the past five years. The salaries fund is  unprecedentedly high, which will be 40% of all capital income. "This  means that we approached the indicator, when almost half of the total  amount collected goes to administrative expenses, the second half -  to solve the problems of the city. 40% is an unacceptably large  indicator," David Khazhakyan wrote.

To recall, yesterday ArmInfo referring to the draft budget of  Armenia's capital posted on single portal of legal acts informed that  in 2020, the budget revenues of Yerevan will amount to 107 billion  120 million drams, compared to 83 billion 077 million drams envisaged  for the current year. Expenditures will be approximately at the level  of 116 billion 233 million drams, instead of 91 billion drams for  2019 (against the approved 84.34 billion drams). The deficit of the  city budget is 9 billion 113 million drams against 1 billion 269  million drams for the current year. Own revenues (local taxes and  fees, revenues from privatization and sale of municipal property,  other own revenues of local budgets) will amount to 26 billion 994  million drams, or 32.5% of the projected total revenue of the city  budget, against about 3 billion drams envisaged for 2019 (29.5% of  total revenues) and about 5 billion 588 million drams actual for  2018. Tax revenues of the capital treasury are projected at the level  of 14 billion 814 million drams, or 17% (2 billion 156 million drams)  more than in 2019. The actual indicator for 2018 was lower than the  forecasted figure by 3 billion 649 billion drams or 32.7%.

Through official grants, according to the draft budget of the  Republic of Armenia for 2020, Yerevan will receive 24 billion 015  million drams, 0.66% or 158 million drams more than within the  framework of the adjusted indicator for the current year.

Other income is projected to generate revenues of 64 billion 675  million drams, against 43 billion 520 million drams for the current  year. The expenditures of the capital's budget in 2020 will grow by  about 31.8 billion drams - up to 116 billion 233 million drams.  Current expenses will account for 90.3%, or about 105 billion drams  (administrative budget), 11 billion 290 million drams - for net  expenses of non-financial assets (stock expenses), and the amount of  receipts and expenses from non-financial assets will be 3 billion 921  million drams.

31.7% of budget expenditures will be allocated to the social sector  (education, health care, social security), 19.5% will be required in  the transport sector, and 17.7% in environmental protection. The  reserve fund of the capital administration will make 10 billion 018  million drams. From the reserve fund of the administrative part of  the capital budget for 2020, 9 billion 228 million 174 thousand drams  will be allocated for the implementation of the Investment Program  for Sustainable Urban Management and Urban Infrastructures  implemented by the Asian Bank - 2: coordination and management  (delegation of authority).  According to the project, an amount of 9  billion 509 million drams or 8.2% of total expenses, which exceeds  the adjusted figure for 2019 by 271 million 684 thousand drams, is  envisaged to support the activities of the governing body. The salary  fund accounts for 5 billion 565 million 619 thousand drams.   Officials also provided a bonus fund in the amount of 34.1% of the  total salary fund. 45 million drams will be allocated for the  establishment of flags.

According to the draft budget for 2020, it is planned to introduce a  new landscaping model. For this purpose, 3.6 billion drams will be  allocated, which is 2.1 billion drams more than the adjusted  indicator for the current year. It is also planned to increase funds  for the resettlement of residents of emergency buildings. It is  planned to allocate 1.5 billion drams for landscaping the yards next  year. The city authorities will send 179mln200 thousand drams for the  overhaul of elevators in apartment buildings, which is 148 million  more than the adjusted figure for 2019. Asphalt volumes will also  increase, sidewalks will be built in the amount of 696 million drams.  About 100 million drams will be allocated for the modernization of  the street lighting network.

In 2020, it is also planned to increase the salary of employees of  municipal music and sports schools, as well as art schools. In the  field of health, the mayor's office plans to implement a number of  major programs. Polyclinics will be repaired (250 mln drams) and  equipped with the necessary modern medical equipment. Kindergartens  will be reequipped in order to accept more children. 

POST A COMMENT
Input digits     


News


Exchange rates
03.07.2020
RUB6.81-0.07
USD483.840.48
EUR543.30-2.17
GBP602.38-2.59
CAD356.470.82
JPY45.020.03
CNY68.500.00
CHF511.13-1.18



Search by date

Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000