Gagik Minasyan: The good macroeconomic indices of 2012 have changed the predictions for 2013

Artak Barseghyan

The Government has already submitted the draft State Budget for FY2013 to the National Assembly. The hearings on the draft budget at National Assembly’s Standing Committees will start on October 30. It will be considered at a plenary sitting on November 12, Gagik Minasyan, Chairman of the Standing Committee on Financial-Credit and Budgetary Affairs, told reporters today. The MP presented the main indices of 2013 state budget and shared some economic predictions.

The revenues of the state budget for FY 2013 will total 1 031.6 bln AMD, the expenditures will reach 1 151.4 bln AMD. The deficit is expected to make 119.8 bln MD. The GDP will grow 6.2%, the inflation is predicted to be 4%. The foreign debt will grow to about $4 bln instead of the current $3.8 bln by the end of 2013.

“The positive macroeconomic indices registered this year have changed the predictions for 2013,” Gagik Minasyan told a press conference. According to him, this year considerable growth has been registered in the fields of industry, agriculture and services.

The revenues are predicted to grow 13% as compared to the current year, the expenditures will grow 10%.

Gagik Minasyan attached importance to the development of diversified economy, which will allow to overcome the crisis  with the least losses.

The MP said nothing threatens the execution of next year’s budget. “The forthcoming presidential elections will not have any influence, either,” he said.

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