Fall in economy to decline to 15%

At today’s press-conference Armenian Minister of Finance, Tigran Davtyan, spoke about state budget of Armenia which had been presented to Parliament for debates.

“It’s a real project providing rather serious basis to be sure of its realization over next year,” he said.

The spending amount to 945 billion drams and despite the crisis this value will be maintained at least to the tune of more than 900 billion drams. This year’s total spending will be executed at least by 90%, while non- significant spending will not be restored.

“In sense of priorities there have been provided some changes in spending cost items for more effective impact on the economy,” said Mr. Davtyan. He also mentioned the internal and external sources which provide covering of a deficit.

“Next year’s deficit is expected to be 183 billion drams - significantly lower rate than current one, following years’ index will be reduced to 3%.”

Fall in economy will decline from 18.5% to 15% if trends of stability save their level, says minister adding that next year we will meet phase of economic recovery which will last for rather a long time.