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Government plans 27,4% more in spending in 2020 budget compared to 2018

28-10-2019, 12:24 Armenia » Economy
Government plans 27,4% more in spending in 2020 budget compared to 2018

28 October 2019, 12:24 - NovostiNK
The government is planning 1 trillion 602 billion in revenues under the 2020 state budget, with the figure being 27,4% more compared to 2018’s budget revenues, PM Nikol Pashinyan said in parliamentary committee debates of the 2020 state budget draft.

“In terms of spending the data matches with the figures which I have spoken about before and after the revolution. Increase in spending amounts to 29,9%. It is very important to note what kind of growth we have in human capital investments compared to 2018. We have 33% growth in budget allocations in healthcare sector compared to 2018, 41% in education, science, culture and sports, 21% growth in labor and social affairs,” he said.

The Prime Minister also addressed the recent discussions regarding defense spending. According to him the government has planned a 25,3% increase in defense spending for 2020 compared to 2018.

“In terms of military spending I would like to note that we have a certain legislative regulation whereby military spending should not exceed 4% of the GDP. We must remain in this framework. It is also very important to note that we have spending in 2020 in the military spending which will be done in a bit different logic, I have made statements in this regard in the past. I hope that the volumes and tangible results of the fight against corruption as a result of the changes in the recent period will grow and they will be directed also for increasing the defense level,” the PM said.


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