The discussions on 2018 budget plan are launched in the Parliament. Prime Minister Karen Karapetyan gave an optimistic promise during his opening speech at the joint session of the Standing Committees on Economic Affairs and Financial-Credit and Budgetary Affairs of the National Assembly of the Republic of Armenia, constituting that they suggest such fiscal policy which will create grounds for providing 5% economic growth in average. Karen Karapetyan stated: “Taking into consideration the objectives of the 5-year plan of the government, we have made changes in fiscal policy approaches in 2018 budget. Notwithstanding that the fiscal policy will continue to remain limited in a mid-term horizon conditioned by the necessity of providing debt stability, the fiscal policy will be implemented with the overlook of expenditure structure casting the spotlight on the necessity of implementation of capital expenditures in providing economic growth stability.”
Karen Karapetyan mentioned that throughout the recent years our economy is characterized by negative quakes penetrating from the outside, as a result of which low level of economic growth has been recorded and reduced the potential for economic growth: “Despite the current developments make us hopeful, the grounds for economic growth are not still enough solid to claim for long-term economic growth. In other words, the suggested fiscal policy will lay grounds for upcoming 5% economic growth in average which will give an opportunity of solving the tasks in front of us more efficiently, both from the perspective of reaching a long-term development and from the social perspective.”
To achieve that result, as stated by Karen Karapetyan, great efforts and great work is required from everyone. Economic growth, security of the country, social welfare: according to the PM, the mentioned should become the keystone issues. As he insisted: “Income policy will be balanced both from the aspect of the reduction of the shadow economy and the improvement of entrepreneurship environment… I am assured and full of hope that we will all use this opportunity, will work maximally efficiently, pragmatically and rationally to achieve the best result possible for our country and the citizens at the moment.”
He wished everyone an efficient work and a good mood.
Hripsime JEBEJYAN
