Public Radio of Armenia
Prime Minister Hovik Abrahamyan presented the draft State Budget for FY2015 to the National Assembly today. He assessed the draft budget as “realistic” and “socially-oriented.” The allocations to the social-cultural sector will make up 47.9% of the total budget expenditures.
As for the priorities of the economic policy, Hovik Abrahamyan said the large business will remain the main target, while the main goals are the improvement of the business environment and decrease of the shadow economy.
“We do not have the capacity to eliminate all vicious practice at one, but we are resolute to do this step by step and sphere by sphere. Large business will remain the main target. Some see the steps aimed at making the large business more accountable as an attempt to pressure the small and medium-sized businesses,” the Prime Minister said, asking for support and patience to see the results.
Next year the budget revenues are expected to make 1 trillion, 184.5 billion AMD, which means a 4.3% increase as compared to this year. The expenditures are estimated at 1 trillion 298.60 billion AMD, the deficit will make 114.12 billion AMD. The government predicts a 4.1% economic growth.