The Armenian government approved Thursday, July 4, the medium-term expenditures program for 2014-2016.

Finance Minister David Sargsyan said the GDP (gross domestic product) growth will make 6,9% in 2014, 10% in 2015 and 11% in 2016. According to him, the budget revenues will total AMD 1 trn 146 bln or 23,63% of the GDP.

“This is AMD 113bln more than in 2013, with the revenue growth to be mostly secured due to tax yields,” he said.

As to budget expenditures, these have been estimated at AMD 1trn 258bln for 2014, which is AMD 105bln more than for 2013. The same figure is expected for 2015 and 2016.