Yerevan/Mediamax/. Expenditure part of the state budget in 2011 is planned to be at the level of 1 trillion AMD, which is 63bln more, as compared to the analogous index of 2010.

Mediamax reports that Minister of Finance of Armenia Tigran Davtyan said this, while presenting the draft state budget for 2011 in Yerevan today.

According to him, the state budget for 2011 will maintain its social orientation, in particular, 44bln AMD from additional 63bln, is planned to be directed exactly at social needs.

“Revenue part of the state budget will make 850bln AMD, 650bln of which at the expense of tax proceeds”, Tigran Davtyan stated, adding that the deficit of the state budget in 2011 will make 148.6bln AMD, having reduced in correlation to GDP from 5% in 2010 to 3.9% in 2011.

The economic growth in 2011, planned in the draft state budget, equals 4.6%, the deflator index of GDP is forecast at the level of 3.5%. According to the Minister, next year Armenian economy will reach the pre-crisis level. 

Speaking of developments this year, Tigran Davtyan noted that following the results of the year, the government expects 3.4% growth of GDP, as well as the level of inflation (within 5.5%), planned by the state budget.

Touching upon the issue of servicing the external debt, Minister noted that its correlation to the GDP, will make 42-44% this year, and then will gradually decrease.