The 2012 draft state budget envisages deficit of 3.1%, which is AMD 12 bln less than in 2011.

“Finally national budget gap reached the level of 3% that poses no threat to macroeconomic stability,” chairman of standing committee on financial-credit and budgetary affairs Gagik Minasyan told a press conference.

He noted that during the global financial crisis, Armenian authorities increased budget deficit to 7,55% due to which no social program suffered any cuts and large-scale anti-crisis economic programs were implemented.