Tuesday, October 5 2021 18:42
Naira Badalian

Armenia will receive official grants of approximately USD 81.6  million in 2022

Armenia will receive official grants of approximately USD 81.6  million in 2022

ArmInfo.In 2022, Armenia expects to receive official grants in the amount of 40.3 billion drams, or approximately $ 81.6 million. This is stated in the draft law "On the  state budget of the Republic of Armenia for 2022", approved by the  Cabinet of Ministers on September 30.

In general, according to the document, in the next fiscal year,  official grants will amount to 40.3 billion drams, against 24.3  billion drams pledged by the state budget for the current year and  actual 12.4 billion drams over the past year.

Thus, from the EU, within the framework of grant programs provided  for by the Armenia-EU action program within the framework of the  European Neighborhood Policy, budget assistance in the amount of 5.3  billion drams or 9 million euros will be received for reforms in the  judicial sector. In 2021, the budget set its expectations for this  item in the amount of 1.7 billion drams, and in 2020 the figure was  47.3 billion drams.

Another 13 billion drams (out of the previously announced 2.6 billion  euros) is expected to be received from the EU through various  financial instruments within the framework of a new 5-year stage of  Armenia-EU cooperation within the framework of the Eastern  Partnership. The funds will be used to implement 5 joint priority  initiatives of the RA and EU governments related to the construction  of the North-South highway, other infrastructure, socio-economic  development of the southern regions of the Republic of Armenia,  modernization of healthcare institutions, improvement of educational  institutions and modernization of scientific infrastructure, digital  management and promoting innovations, as well as modernizing quality  infrastructure systems in the field of economics, including  increasing the level of safety and quality of agricultural products,  creating a modern Logistics Center within the framework of  public-private partnerships.

Funding for other targeted grants next year will amount to 22 billion  drams or 44.6 billion US dollars, instead of 22.6 billion drams  approved in 2021 and actual 5.9 billion drams in 2020.

To note, according to the draft state budget for 2022, by the end of  2022, GDP growth will be 7% (from 6.5% expected by the end of 2021),  nominal GDP, compared with the program indicator for 2021, will grow  by 635.9 billion - to 7,869.4 billion drams (from the expected  7.031.2 billion drams at the end of the current year). The GDP  deflator will grow by 4.6% (6.8% at the end of 2021), 12-month  inflation - 5.2% (7.4% is expected by the end of this year), and  average inflation will reach 5. 6%  in 2022 (7% expected in 2021).

The expenditures of the state budget of Armenia in 2022, compared  with the indicator set in the state budget for 2021, will grow by  18.2% - up to 2 trillion 188.4 billion drams. State treasury revenues  and official transfers in 2022 will amount to 1 trillion 946.2  billion drams (24.7% of GDP), against 1 trillion 656.9 billion drams  (23.6% of GDP) expected by the end of this year and actual 1 trillion  560.7 billion drams in 2020 (25.2% of GDP). At the same time, tax  collections and state duty to GDP will grow by 0.9 percentage points  - up to 23.4% and will amount to 1 trillion 843.8 billion drams,  instead of 1 trillion 581.0 billion drams expected at the end of 2021  (22.5%) and actual 1 trillion 385.2 billion drams for 2020 (22.4% of  GDP).

The deficit of the state treasury in 2022 will reach 242.2 billion  drams or 3.1% of GDP, against 329.1 billion drams or 4.7%, expected  at the end of this year and 334 billion drams or 5.4% of GDP for  2020. Government debt will be reduced from AMD 4 trillion 727.8  billion or 60.1% of GDP, against AMD 4 trillion 273.9 billion (60.8%  of GDP) expected by the end of 2021 and AMD 3 trillion 923.9 billion  or 63.5% of GDP in 2020. In general, according to the forecasts laid  down in the basis of the state budget for 2022, as of December 31,  2021, the state debt of Armenia will amount to 4 trillion 509 billion  drams or 64.1% of GDP, and by the end of 2022 the figure will reach 5  trillion 029 billion drams or 63.9% GDP. 


News
EDB formulates idea of  Eurasian transport frameworkEDB formulates idea of  Eurasian transport framework
Tigran Balayan presented Armenia`s investment opportunities to  representatives of Dutch business sectorTigran Balayan presented Armenia`s investment opportunities to  representatives of Dutch business sector
Global businesses set to battle for talent as hiring plans fuel growth ambitionsGlobal businesses set to battle for talent as hiring plans fuel growth ambitions
Armenia`s gross international reserves increased by 38.2% per annum  by November 2021Armenia`s gross international reserves increased by 38.2% per annum  by November 2021
Vahan Kerobyan will take part in Second Eurasian Congress in MoscowVahan Kerobyan will take part in Second Eurasian Congress in Moscow
Statistics: Armenia`s GDP increased by 11.1% per annum in 9 months of  2021Statistics: Armenia`s GDP increased by 11.1% per annum in 9 months of  2021
New power plant of 254 MWe launched in YerevanNew power plant of 254 MWe launched in Yerevan
As of November 20, 2021, tax collection in Armenia exceeded  pre-crisis index of 2019 by 4.5%As of November 20, 2021, tax collection in Armenia exceeded  pre-crisis index of 2019 by 4.5%
Association of Restaurateurs reacted negatively to new decision of RA  Health Ministry Association of Restaurateurs reacted negatively to new decision of RA  Health Ministry 
ANIF, Masdar company discuss Ayg-1 project ANIF, Masdar company discuss Ayg-1 project 
Unpredictable pandemic situation, steadily high inflation remain major risks to scenario of Armenia`s  economic development - EDBUnpredictable pandemic situation, steadily high inflation remain major risks to scenario of Armenia`s  economic development - EDB
US$30m OPEC Fund loan to Ameriabank to promote sustainable energy and support small businesses in ArmeniaUS$30m OPEC Fund loan to Ameriabank to promote sustainable energy and support small businesses in Armenia
One Success Story: Trimming the SpiritsOne Success Story: Trimming the Spirits
EDB projects 2.9% growth in aggregate GDP of Bank`s member states in  2022EDB projects 2.9% growth in aggregate GDP of Bank`s member states in  2022
Representatives of Trade Mission of RF and EFSD discuss financing of  investment projects in Armenia and support for Russian exportersRepresentatives of Trade Mission of RF and EFSD discuss financing of  investment projects in Armenia and support for Russian exporters
4.3% year-on-year increase in economic activity in Armenia in  Jan-Oct, 20214.3% year-on-year increase in economic activity in Armenia in  Jan-Oct, 2021
New operator of Meghri FEZ plans to build a food packaging plantNew operator of Meghri FEZ plans to build a food packaging plant
Government subsidies to Syunik region reached 1.1 billion drams Government subsidies to Syunik region reached 1.1 billion drams 
Armenian authorities consider building three more bypass roads in  Syunik regionArmenian authorities consider building three more bypass roads in  Syunik region
Armenian government approves signing of Agreement on navigation seals  in EAEUArmenian government approves signing of Agreement on navigation seals  in EAEU
Contract for Kaps reservoir construction put out to tenderContract for Kaps reservoir construction put out to tender
VPOS number steadily increasing in Armenia  VPOS number steadily increasing in Armenia  
Non-cash plastic transactions continue to gain momentum; 30%  threshold in total volume has already been passedNon-cash plastic transactions continue to gain momentum; 30%  threshold in total volume has already been passed
Armenia to acquire a loan of 20 million euros for modernization of  urban land transportArmenia to acquire a loan of 20 million euros for modernization of  urban land transport
Russian company won tender on Ajapnyak subway station development  project: Yerevan Mayor hopes earliest possible financing of projectRussian company won tender on Ajapnyak subway station development  project: Yerevan Mayor hopes earliest possible financing of project
Black Friday CashBack from Converse BankBlack Friday CashBack from Converse Bank
Armenian-Belarusian Economic Cooperation Commission to meet in Minsk  Armenian-Belarusian Economic Cooperation Commission to meet in Minsk  
2.621mln plastic cards in Armenia`s banking market 2.621mln plastic cards in Armenia`s banking market 
Armenia, Belarus study prospects for cooperation in organic  agricultureArmenia, Belarus study prospects for cooperation in organic  agriculture
Mher Grigoryan, Sergei Glazyev discuss main areas of cooperation  within EAEUMher Grigoryan, Sergei Glazyev discuss main areas of cooperation  within EAEU
Macroeconomic Research Centre at Financial Research Institute of RF  ready to assist RA Economy Ministry Macroeconomic Research Centre at Financial Research Institute of RF  ready to assist RA Economy Ministry 
Delegation of RA Economy to get acquainted with peculiarities of  operations with precious metals and stones in Bishkek within EAEUDelegation of RA Economy to get acquainted with peculiarities of  operations with precious metals and stones in Bishkek within EAEU
Armenia can be a major exporter of intellectual property and software  - Chi-Foon ChanArmenia can be a major exporter of intellectual property and software  - Chi-Foon Chan
Bank loans in all member-states to be available to all EAEU citizens Bank loans in all member-states to be available to all EAEU citizens 
Armenia most important EAEU member - Ilya Malkina Armenia most important EAEU member - Ilya Malkina 
How to escape the “black” side of Black Friday?  Some tips from Converse BankHow to escape the “black” side of Black Friday?  Some tips from Converse Bank
Allow yourself more: Rocket line - the leading Armenian Allow yourself more: Rocket line - the leading Armenian "Buy now, pay later" payment format from Idram&IDBank digital platform
On November 24-27, Yerevan will host 1st International Trade and  Industrial Exhibition On November 24-27, Yerevan will host 1st International Trade and  Industrial Exhibition "Eurasia 2021" and Eurasian Business Forum 
ICAO and IATA provide identification codes to FLYONE ARMENIA ICAO and IATA provide identification codes to FLYONE ARMENIA 
Pashinyan: Armenia registered stable growth rates of trade with the  EEU countriesPashinyan: Armenia registered stable growth rates of trade with the  EEU countries
New foil annealing mode reduces scrapNew foil annealing mode reduces scrap
Ameriabank to start distribution of $8mln USD tranche bonds on Nov.  25 Ameriabank to start distribution of $8mln USD tranche bonds on Nov.  25 
 One Success Story: When the idea turns into reality One Success Story: When the idea turns into reality
Investments in Armenia`s communities nearly $400mln since 2018 -  premier Investments in Armenia`s communities nearly $400mln since 2018 -  premier 
Minister of Economy: A number of Iranian companies are ready to  invest in FEZ Minister of Economy: A number of Iranian companies are ready to  invest in FEZ "Meghri"
Armenia exempts imports of electric vehicles from VAT for another two  yearsArmenia exempts imports of electric vehicles from VAT for another two  years
Armenian government approves its program of activities for 2021-2026Armenian government approves its program of activities for 2021-2026
Mutual investments in Eurasia reaches US $46 billionMutual investments in Eurasia reaches US $46 billion
$72.5 million to be available to Armenia after IMF Board meeting in  Dec $72.5 million to be available to Armenia after IMF Board meeting in  Dec 
Armenia s government revising GDP growth forecast Armenia s government revising GDP growth forecast 
I am proud of our participation in the project that helped make the  Armenian nuclear power plant safer and more efficient - Rosatom  Director GeneralI am proud of our participation in the project that helped make the  Armenian nuclear power plant safer and more efficient - Rosatom  Director General
About 10% of budget expenditures to be directed to serve government  debt in 2022About 10% of budget expenditures to be directed to serve government  debt in 2022
Extension of NPP operation until 2036 mere desire yet - Ashot  Martirosyan Extension of NPP operation until 2036 mere desire yet - Ashot  Martirosyan 
RA Finance Ministry: By the end of 2022, government debt will decrease by 0.6 p.p. - from 60.8% at the end of 2021 to 60.2%RA Finance Ministry: By the end of 2022, government debt will decrease by 0.6 p.p. - from 60.8% at the end of 2021 to 60.2%
From July 1, 2022, gradual abolition of income tax refund system for  mortgage loan starts in YerevanFrom July 1, 2022, gradual abolition of income tax refund system for  mortgage loan starts in Yerevan
Armenia`s Ministry of Economy, UNIDO sign Country Programme for  Inclusive and Sustainable Industrial DevelopmentArmenia`s Ministry of Economy, UNIDO sign Country Programme for  Inclusive and Sustainable Industrial Development
PM Pashinyan, representatives of IT companies discuss public-private  cooperation prospectsPM Pashinyan, representatives of IT companies discuss public-private  cooperation prospects
Armenia will switch to a new energy model from February 2022Armenia will switch to a new energy model from February 2022
Agreement on Technical and Economic Cooperation between Armenia and  China signed in YerevanAgreement on Technical and Economic Cooperation between Armenia and  China signed in Yerevan
Armenia considers possibilities of expanding economic cooperation  with California StateArmenia considers possibilities of expanding economic cooperation  with California State
Read more


Exchange rates
30.11.2021
RUB6.500.02
USD486.280.42
EUR552.464.12
GBP649.721.68
CAD380.32-0.93
JPY43.090.23
CNY76.230.16
CHF529.664.35