Cabinet approves draft budget, to submit to NA Oct 1

The cabinet approved at its sitting today the 2019 draft budget.

According to it, 1,533.7 billion AMD will be the income part, the expenses will make 1,685.3 billion, deficit will be 151.6 billion AMD.

According to Finance Minister Atom Janjughazyan, the draft budget has been worked out considering few circumstances. The first are tax-budget rules which will be aimed at stabilizing the debt. 

“The logic is the following – we will take debt for capital expenses not for current expenses,” the minister said.

Main share weight in expense structure will come to share to social, cultural expenses (over 44%).

Referring to the draft budget, first vice Prime Minister Ararat Mirzoyan said that certain changes are expected as the government offers certain reforms in economy-related legislation.

“Works will be carried out for raising the efficiency of state management system which will result in efficiency of carried out expenses,” he said.

The draft budget will be sent to NA on October 1.