AMD 16.7bln to be allocated to needs of Armenia`s Ministry of Foreign  Affairs

ArmInfo. In 2024, AMD 16.7bln will be allocated to the needs of the Ministry of Foreign Affairs of Armenia. RA Minister of Finance Vahe Hovhannisyan stated this during discussions on the draft state budget of the country for  2024 at a meeting of the commissions of the National Assembly of the Republic of Armenia.

According to him, this amount exceeds the department's allocations in  2023 by 504 million drams. The Ministry of Foreign Affairs intends to  implement five programs next year - training and retraining of  specialists in the field of international relations, development and  implementation of government foreign policy, cooperation with  international organizations, organization and management of  diplomatic missions abroad and implementation of protocol events in  relations with foreign countries.

The minister emphasized that the size of the budget request of the  Ministry of Foreign Affairs was AMD 17.630bln, which was not fully  satisfied, the amount of allocations was reduced by AMD 1.013bln.

According to the bill, in 2024 the economic growth rate is planned at  a level of at least 7%. State treasury revenues are provided at AMD  2,566bln, which is 15.4% higher than the plan for 2023, and expenses  AMD 3,017bln, or 15.9% higher. Among expenses, capital expenditures  will amount to AMD 695bln, or 22% more than the plan for 2023. At the  end of next year, the tax-to-GDP ratio is planned to increase by  0.75%.  The budget deficit will be about AMD 340bln or 3.2% of GDP.  As a result, by the end of 2024, the government's public debt to GDP  ratio will be 48.4%, that is, below 50%.