Armenian government approves budget project for 2011

The Armenian government approved the budget project for 2011 on
Thursday, ARKA reports.

Armenian Finance minister Tigran Tavtyan noted the GDP level for 2011
should reach 3 trillion 763.5 million drams, and this figure is
planned to rise by 4.6%.

The state budget income is 850 billion drams, and expenses - 998.4
billion drams. The deficiency is 148.6 billion drams, that is 3.9% of
the GDP, which is sufficient, Davtyan said. He said that in 2009 the
deficit reached 7.5% - in 2010 they plan 6%, but the figure may be be
4.8%.

He said that industrial growth will be 4.6%, agriculture - 10%,
construction - 2%. The minister said that the budget project for 2011
will be viewed by the National Assembly of Armenia. Armenian Premier
Tigran Sarkisyan said that the state budget project underwent detailed
discussions and meets the program of middle-term expenses.

The expenses were increased by 10 billion drams and the deficit will
be reduced, the premier said.

The law on state budget was adopted on December 10, 2009 by the
National Assembly. The income will reach 742 bilion drams, the
expenses - 935.5 billion drams, the deficit - 193.4 billion drams.
Economic growth in 2010 in Armenia is forecast to reach 1.2%.