Government of Armenia approved draft state budget for 2017 during today’s session. 

“We planned a rather tough budget for 2017, which the numbers verify: we plan to increase incomes by about AMD 70 billion and decrease expenditures by about AMD 100 billion,” said Prime Minister Karen Karapetyan.

Minister of Finance Vardan Aramyan noted that additional tax revenues are expected next year as a result of administrative mechanisms. 

“We were relatively traditional in regard to expenditures and planned AMD 1 trillion and 360 billion for the whole year. In this case, we will keep budget deficit at about 2.8%, which is reduced by half in comparison with the index of 2016,” Vardan Aramayan said.