Friday, 20 April 2007
Today the Standing Supreme Council of Armenia's State Medium-Term Expenditure Programs (MTEP) has met at the Office of Government under the chairmanship of Council President, RA Prime Minister Serzh Sargsyan.
The Council has discussed and approved the benchmark quotas proposed by the Standing coordination committee on Armenia's State medium-term expenditure programs for the funding of treasury outlays to be made from the 2008-2010 RA State budgets. It was reported that some of the fiscal indicators specified in the concept paper approved last December by the Standing Supreme Council of Armenia's State Medium-Term Expenditure Programs suffered small changes between January-March, 2007. They were largely conditioned by the positive balance of the projected and actual indicators of the nominal GDP for the year 2006. According to the estimates made on the basis of chief macroeconomic parameters for the period 2007-2010, the projected nominal GDP indicators rose in absolute figures, in result of which the level of fiscal revenue, too, has increased accordingly. The medium-term revenue policy was prioritized in the MTEP development stage which is characterized by supporting public expenditures through domestic resources. Therefore, the improved tax-customs administration-induced growth in the level of fiscal revenue will be a priority for the government
