Armenia's capital expenditures to increase by 55% in 2022 — draft budget

PanARMENIAN.Net - The draft budget for 2022 in Armenia forecasts an economic growth of 7%, while capital expenditures are expected to grow by 55%, Prime Minister Nikol Pashinyan said during the discussion of the draft budget for 2022 in parliament on Monday, October 25.

“Although most of the current year was marked by an unstable political environment, as well as an unfavorable one in terms of national security, our economy now exceeds all growth forecasts for 2021. On the other hand, the government hopes for even better results,” Pashinyan said.

According to him, in September 2021, an "absolute record" in terms of the number of paid jobs – 651,141 – was registered in Armenia, with the rate growing by 3% from 2020.

“I hope that several large investment projects will be successfully completed. Their main goal is to transform Armenia from an exporter of ore and raw metal resources into a country of developed metallurgy,” the Prime Minister said.

The state budget for 2022 is based on 3 priorities: reform of the security system, development of infrastructure, modernization of education and science.