Hoovers: Armenia´s budget for 2003 passes with deficit of 14.1% of spending

YEREVAN. Dec 26 (Interfax) – On Thursday, the Armenian parliament passed the country’s budget for next year in the third and final reading with a deficit of 47.2 billion dram, or 14.1% of spending, the parliamentary press service has told Interfax.

Budget revenues are set at 287 billion dram, spending at 334.2 billion dram. The budget figures GDP growth of 6% and inflation of no more than 3%.

The official exchange rate on December 26 was 582 dram/$1.