ArmInfo. The National Assembly of Armenia at the meeting on December 6 with 77 votes in favor and 39 against adopted the law "On the state budget of 2020".
The document stipulates that in the context of a 4.9% GDP growth, the nominal GDP will grow by approximately 529 billion drams - from 6.566.5 billion drams expected by the end of 2019 to 7.095, 1 billion drams included in the document. The budget revenue item with 1.698 trillion drams fixed in the draft budget for the current year decreased to about 1.695 trillion drams or 23.9% of GDP (1.567 trillion or 23.9% of GDP this year and actual 1.341 trillion or 22.3% of GDP for 2018 year). Costs declined from the previously forecasted 1.880 trillion drams to 1.855 trillion drams. As a result, the deficit indicator also decreased - to about 160 billion drams and will amount to 2.3% of GDP, against the previously forecasted 182.6 billion drams (2.6% of GDP). The deficit will be financed in the amount of 210.5 billion drams from domestic sources and another 50.5 billion drams are expected to be attracted from external sources. 12- month inflation is projected at 4% (+ / _ 1.5%).
Tax revenues of the state budget (tax revenues and state duty) in 2020 are projected at 1 trillion 602 billion 252 million 712 thousand drams or 22.6% of GDP, against the previous 1 trillion 602 billion 130 million) and adjusted for the current year 1 trillion 464 billion drams or 22.3% of GDP (and the actual 1 trillion 258 billion drams, or 21% of GDP for 2018).
In 2020, according to the adjusted draft budget, Armenia expects to receive from foreign states and international organizations official grants in the amount of 35 billion 024 million drams or 0.5% of GDP against 33.8 billion drams previously allocated, 39.5 billion drams and AMD 11.2 billion for 2019 and 2018, respectively.
