Capital spending will increase by 55%: Pashinyan presents the 2022 state budget proposal


YREVAN, OCTOBER 25, ARMENPRESS. Armenian State Budget Draft 2022 plans to increase capital spending by 55%, it will include 347 billion drams, Prime Minister Nikol Pashinyan said at joint sessions of standing parliamentary committees, debating the draft budget .

“Today, we are presenting the first budget of the government’s five-year action plan which is called upon to create a solid foundation for the implementation of the action plan. We forecast an economic growth of 7% for 2022, despite the fact that most of 2021 was marked by an unstable political and security environment, today our economy exceeds all the growth forecasts made for 2021. On the other hand , the government has more hope with the results of the year ”, declared the Prime Minister.

He informed that in September 2021, Armenia registered a record number of paid jobs – a total of 651,141 paid jobs. Pashinyan said there was not such a high figure in Armenia. This year’s figure is 3% higher than last year.

The Prime Minister said that despite the inflation of 6.4% this year, the gross wages fund increased by 15.3% in September compared to September 2020, and the salary per capita increased by 11.9% or 23,782 drams. The export increased by more than 20%. Construction volumes increased by 7% this year, service growth was over 5% from September. “These factors make the goal of 7% economic growth realistic, especially when it has already started and I hope that several major investment programs will be carried out, the objective of which is to make Armenia a Mineral resource exporting country to a country have as much as possible a long chain of strong metallurgy and metal processing, ”he said.

According to the project, the 2022 budget revenues include 1,000 billion 946 billion drams, which is 17% higher than 2021 and 25% higher than 2020. “The expenditure includes 2,000 billion 190 billion drams, which is 10% higher than 2021 and 16% higher than 2020. Capital expenditure for 2022 includes 347 billion drams, which is 55% higher than 2021 and 53% higher than to 2020, ”Pashinyan said.

The Prime Minister said that the 2022 state budget is based on 3 priorities – improving the security system, developing infrastructure and modernizing education and science.

Editing and translation by Aneta Harutyunyan


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