Tuesday, 16 May 2017
Supreme Standing Council on Medium-Term Expenditure Development Program Holds Meeting
Chaired by Prime Minister Karen Karapetyan, the Supreme Standing Council on Medium-Term Expenditure Development Program met today in the Office of Government.
The meeting discussed and approved the main macroeconomic indicators and the fiscal framework to form the basis of the draft medium-term public expenditure program for 2018-2020 with a focus on economic growth for the next 3 years. Note that for many years capital expenditures used to lag behind the level of State budget deficit, mainly due to the need to absorb external shocks. Under the new program, medium-term spending will exceed the budget deficit. Instead, the recurrent spending shall be tempered as much as possible, with greater emphasis placed on the effectiveness of these expenditures.
At the same time, the meeting approved the indicative and finalized quotas for budget spending for administrative purposes in the specified areas for 2018-2019, and the tentative quotas for 2020.
