Armenian PM presents state budget for 2013

Armenian PM presents state budget for 2013

Armenian Prime Minister Tigran Sargsyan has presented the state budget for 2013 today. The document assumes an economic growth rate of 6.2% in 2013, compared with 7% this year.

Sargsyan called macroeconomic stability a priority. The IMF and WB reduced forecasts of economic growth, causing reconsiderations in the Armenian economy.

The WB will grant Armenia $100 million in financial aid.

Armenia will have a deficit of $310 million (2.6% of the GDP) in 2013. Income will total $2.648 billion, expenditure $2.958 billion. Inflation is predicted at 4±1.5%. Income of communities will reach $243.75 million, expenditure $254.25 million, deficit $10.5 million.

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