November 22, 2018 - 14:04 AMT
Parliament approves Armenia’s budget for 2019

The Armenian parliament on Thursday, November 22 approved thebudget for 2019, with 66 lawmakers voting in favor and 4 against, and 2 abstaining.

Accordingly, budget revenues will stand ad AMD 1.462 trillion (approx. $3.017 billion), while expenditures will top AMD 1․614 trillion ($3.331 billion), creating a AMD 151․6 billion (more than $3.51 million) deficit.

As reported earlier, the country is planning to increase defense expenditures by 25% year-on-year.

Under the new budget, AMD 307 billion (more than $625 million) will be allocated to the Defense Ministry. From this sum, AMD 300.5 billion will be spent on military defense measures. The defense budget of 2018 had grown 17.6% against the previous year.