RA Prime Minister Tigran Sargsyan today made a speech at the National Assembly session covering the issue of state budget fulfillment. The report of the budget has been concentrated on two layers: a) the economic environment impacting budget fulfillment, and b) results brought by tax/budget policy of the government. Prime Minister has called the year of 2011 as one of “recovery” on the background of 2010 high level inflation (9.4% versus pre-crisis 3% inflations). Sagsyan has noted that because of that environment the government had to introduce inflation- restrictive measures as well take steps to control growth of industrial sector to enable for economic growth in general. In line with the speech RA budget deficit in 2011 comprised about 2.8% of GDP versus planned 3.9. Industrial growth for 2011 comprised 13.5% from the 2010 result; similar indicators have been noted in the agricultural sector as well. Touching upon budget income increase Prime Minister has reported a 12.9% growth or 23.3% to GDP.
