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Macroeconomic Framework

MACROECONOMIC FRAMEWORK for 2010

By “Budget Message of the Government of RA for 2010".

Budget Law of RA was adopted on December 10, 2009.

 

2010

GDP (bln AMD)

3,214.6

GDP Real Growth (%)

1.2

GDP Deflator (%)

2.0

Inflation (end of period, %)

4±1.5

Exchange Rate (AMD/USD, average)

386.4

State Budget Total Revenues (bln AMD)

742.1

State Budget Total Revenues / GDP (%)

23.1

State Budget Tax Revenues and State Duties / GDP (%)

17.7

State Budget Total Expenditures (bln AMD)

935.5

State Budget Total Expenditures / GDP (%)

29.1

State Budget Deficit / GDP (%)

6.0

Note: All calculations based on 2009 preliminary data.

 

 

 


MACROECONOMIC FRAMEWORK for 2008

By “Budget Message of the Government of RA for 2008".

Budget Law of RA was adopted on November 28, 2007.

 

2008

GDP (bln AMD)

3,520.0

GDP Real Growth (%)

10.0

GDP Deflator (%)

4.0

Inflation (end of period,  %)

4±1.5

Exchange Rate (AMD/USD, average)

336.5

State Budget Total Revenues (bln AMD)

744.7

State Budget Total Revenues / GDP (%)

21.2

State Budget Tax Revenues and State Duties / GDP (%)

16.9

State Budget Total Expenditures  (bln AMD)

820.8

State Budget Total Expenditures / GDP (%)

23.3

State Budget Deficit / GDP (%)

2.2

Note: All calculations based on 2007 preliminary data.

 

 


MACROECONOMIC FRAMEWORK for 2007

By “Budget Message of the Government of RA for 2007".

Budget Law of RA was adopted on November 29, 2006.

 

2007

GDP (bln AMD)

2,922.4

GDP Real Growth (%)

9.0

GDP Deflator (%)

4.0

Inflation (end of period,  %)

4±1.5

Exchange Rate (AMD/USD, average)

357.0

Exchange Rate (AMD/EURO, average)

466.0

State Budget Total Revenues and Grants (bln AMD)

490.2

State Budget Total Revenues and Grants / GDP (%)

16.8

State Budget Tax Revenues and State Duties / GDP (%)

15.7

State Budget Total Expenditures  (bln AMD)

558.7

State Budget Total Expenditures / GDP (%)

19.1

State Budget Deficit / GDP (%)

2.3

Note: All calculations based on 2006 preliminary data.

 

 


MACROECONOMIC FRAMEWORK for 2007-09 by MTEF
Medium Term Expenditure Framework (MTEF) was approved by the Government of RA in June 30, 2006

Medium Term Expenditure Framework (MTEF) was approved by the Government of RA on June 30, 2006.

 

 

2007

2008

2009

 

 

GDP (billion AMD)

2,693.5

2,940.7

3,195.5

 

 

GDP Nominal Growth (%)

9.2

9.2

8.7

 

 

GDP Real Growth (%)

6.0

6.0

5.5

 

 

GDP Deflator (%)

3.0

3.0

3.0

 

 

Inflation (average, %)

3.0

3.0

3.0

 

 

Exchange Rate (AMD/USD, average)

na

na

na

 

 

Exchange Rate (AMD/EURO, average)

na

na

na

 

 

State Budget

 

 

 

 

 

Total Revenues and Grants (billion AMD)

447.6

507.6

563.1

 

 

Total Revenues and Grants / GDP (%)

16.6

17.3

17.6

 

 

Tax Revenues and State Duties

421.4

471.1

524.7

 

 

Tax Revenues and State Duties / GDP (%)

15.6

16.0

16.4

 

 

Non-Tax Revenues (billion AMD)

7.1

5.8

5.9

 

 

Capital Revenues (billion AMD)

4.1

0.09

0.09

 

 

Grants (billion AMD)

15.0

30.5

32.4

 

 

Grants / GDP (%)

0.6

1.0

1.0

 

 

Total Expenditures (billion AMD)

524.2

588.9

607.5

 

 

Total Expenditures / GDP (%)

19.5

20.0

19.0

 

 

Education (billion AMD)

80.6

85.2

90.3

 

 

Education / GDP (%)

3.0

2.9

2.8

 

 

Education / Total Expenditures (%)

15.4

14.5

14.9

 

 

Social Insurance and Social Security (billion AMD)

56.7

57.5

60.7

 

 

Social Insurance and Social Security / GDP (%)

2.1

2.0

1.9

 

 

Social Insurance and Social Security / Total Expenditures (%)

10.8

9.8

10.0

 

 

Public Health (billion AMD)

44.2

46.5

52.6

 

 

Public Health / GDP (%)

1.6

1.6

1.6

 

 

Public Health / Total Expenditures (%)

8.4

7.9

8.7

 

 

Culture, Information, Sport and Religion (billion AMD)

14.1

11.8

13.5

 

 

Culture, Information, Sport and Religion / GDP (%)

0.5

0.4

0.4

 

 

Culture, Information, Sport and Religion / Total Expenditures (%)

2.7

2.0

2.2

 

 

Science (billion AMD)

5.2

5.9

6.6

 

 

Science / GDP (%)

0.2

0.2

0.2

 

 

Science / Total Expenditures (%)

1.0

1.0

1.1

 

 

Deficit / GDP (%)

2.8

2.8

1.4

 

 

CAB (excluding Official Transfers) / GDP (%)

-5.0

-4.9

-4.8

 

 

Exports of Goods & Services (% change)

na

na

na

 

 

Imports of Goods & Services (% change)

8.0

7.0

6.9

 

 


MACROECONOMIC FRAMEWORK 2006-08
By the "Medium Term Expenditure Framework of the Government of RA for 2006-2008"
Approved on June 1, 2005
2006 2007 2008
GDP (billion AMD) 2,303.3 2,514.7 2,745.6
GDP Nominal Growth (%) 9.2 9.2 9.2
GDP Real Growth (%) 6.0 6.0 6.0
GDP Deflator (%) 3.0 3.0 3.0
Inflation (average, %) 3.0 3.0 3.0
Exchange Rate (AMD/USD, average) 468.2 468.2 468.2
Exchange Rate (AMD/EURO, average) 626.2 626.2 626.2
State Budget
Total Revenues and Grants (billion AMD) 373.2 415.3 455.1
Total Revenues and Grants / GDP (%) 16.2 16.5 16.6
Tax Revenues and State Duties (billion AMD) 358.4 400.7 448.2
Tax Revenues and State Duties / GDP (%) 15.6 15.9 16.3
Non-Tax Revenues (billion AMD) 5.9 6.6 5.6
Non-Tax Revenues / GDP (%) 0.3 0.3 0.2
Capital Revenues (billion AMD) 1.2 0.3 0.3
Capital Revenues / GDP (%) 0.05 0.013 0.012
Grants (billion AMD) 7.7 7.7 1.1
Grants / GDP (%) 0.3 0.3 0.04
Total Expenditures (billion AMD) 439.9 488.1 534.6
Total Expenditures / GDP (%) 19.1 19.4 19.5
Education (billion AMD) 65.7 75.0 90.1
Education / GDP (%) 2.9 3.0 3.3
Education / Total Expenditures (%) 14.9 15.4 16.9
Social Insurance and Social Security (billion AMD) 52.4 55.5 56.6
Social Insurance and Social Security / GDP (%) 2.3 2.2 2.1
Social Insurance and Social Security / Total Expenditures (%) 11.9 11.4 10.6
Public Health (billion AMD) 36.6 47.5 55.4
Public Health / GDP (%) 1.6 1.9 2.0
Public Health / Total Expenditures (%) 8.3 9.7 10.4
Culture, Information, Sport and Religion (billion AMD) 11.3 11.6 11.7
Culture, Information, Sport and Religion / GDP (%) 0.5 0.5 0.4
Culture, Information, Sport and Religion / Total Expenditures (%) 2.6 2.4 2.2
Science (billion AMD) 4.2 4.7 5.2
Science / GDP (%) 0.2 0.2 0.2
Science / Total Expenditures (%) 1.0 1.0 1.0
Deficit / GDP (%) 2.9 2.9 2.9
CAB (excluding Official Transfers) / GDP (%) -7.6 -7.5 -7.2
Exports of Goods & Services (% change) 9.6 9.6 9.6
Imports of Goods & Services (% change) 7.3 7.3 7.3

MACROECONOMIC FRAMEWORK for 2005
By "Budget Message of the Government of RA for 2005"
Budget Law of RA was adopted on December 24, 2004
2005
GDP (billion AMD) 2,105.9
GDP (million USD) 4,211.3
GDP Real Growth (%) 8.0
GDP Deflator (%) 3.0
Inflation (end of period, %) 3.0
Inflation (average, %) 3.0
Exchange Rate (AMD/USD, average) 500.1
Exchange Rate (AMD/EURO, average) 664.8
State Budget Total Revenues and Grants (bln AMD) 345.3
State Budget Total Revenues and Grants / GDP (%) 16.4
State Budget Tax Revenues and State Duties / GDP (%) 14.7
State Budget Total Expenditures (bln AMD) 394.6
State Budget Total Expenditures / GDP (%) 18.7
State Budget Deficit / GDP (%) 2.3
CAB / GDP (%) -5.6
Goods Balance (mln USD) -481.6
Exports (mln USD) 828.4
Exports (including services) / GDP (%) 25.4
Imports (mln USD) 1310
Imports (including services) / GDP (%) 38.6
Note: All calculations based on 2004 preliminary data.

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