Tuesday, August 23 2022 13:42
Naira Badalian

Armenia`s defense spending for 7 months of 2022 amounted to less than  17% of all state treasury spending

Armenia`s defense spending for 7 months of 2022 amounted to less than  17% of all state treasury spending

ArmInfo.The expenditures of the state budget of Armenia for January-July 2022 amounted to 1 trillion 94.7 billion drams (about $2.2 billion). Compliance compared to the  updated plan for January-September amounted to 65.2%. At the same  time, 16.6% of the total expenditures or 181.5 billion drams alone  were allocated to cover the defense sector expenditures, which is 60%  of the adjusted figure for 9 months.

According to the data of the Budget Office of the National Assembly  of the Republic of Armenia, more than a third of the actual budget  expenditures, that is, 31.7% or 347.1 billion drams, were allocated  to finance the social protection sector, which is 76.9% of the  adjusted indicator for the industry in nine months.

18.9% or 206.9 billion drams were allocated for spending in the field  of public services, or 69.3% of the adjusted indicator for 9 months  of this year. 9.1% or 99.5 billion drams (68.2% specified) were  directed to finance public order, security and judicial activities.

Expenditure on education amounted to 95.5 billion drams (70.9% of the  adjusted indicator for January- September) or 8.7% of total  expenditures. 6.5% or 71 billion drams were allocated to the  healthcare sector (71.2% adjusted), 67.3 billion drams or 6.1% of the  total expenditure was allocated to the economic relations sector  (35.4% of the adjusted figure).

1.7% or 18.9 billion drams (70.1% of the adjusted indicator) were  directed to the areas of "recreation, culture and religion". About  0.4% or 3.9 billion drams were allocated for construction and  utilities (32.1% adjustment), about 0.3% or 3 billion drams - for  environmental protection (39.8% adjustment).

State budget expenditures in the line of non-financial assets  (capital expenditures) for January-July 2022 amounted to 119.1  billion drams. Compliance in this direction compared to the updated  plan was 39.8%.

It should be noted that according to the RA Law "On the State Budget  for 2020", Armenia's GDP will amount to 7% by the end of the year.  Budget revenues in 2022 will amount to 1 trillion 947.8 billion drams  (24.7% of GDP) or 17.5% (289 billion drams) more than in 2021,  expenditures - 2 trillion 184 billion drams or 27.7% GDP (184 billion  drams more than the figure adjusted for the current year and 334  billion drams more than the approved figure for 2021), and the state  budget deficit will amount to 236.2 billion drams. At the same time,  current expenditures are fixed at the level of 23.2% of GDP or 1  trillion 843 billion drams (81 billion drams (4.6%) more than the  indicator set for 2021), and capital expenditures - 352 billion drams  or 4.5% of GDP. According to the document, Armenia's defense spending  this year will increase by about 11%, or 33 billion drams, amounting  to more than 345.4 billion drams (about 15.8% of the state budget  expenditures).

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