CBA Chairman: Budget deficit dropped by 41,4 billion AMD

The newly-appointed Chairman of the Central Bank of Armenia Martin Galstyan presented on Wednesday the Central Bank report on the Execution of the State Budget for 2019.

“2019 was a favorable year in terms of macroeconomic indices as the budget plan was exceeded, while the planned expenditure was under-fulfilled. As a result, State Budget 2019 had a lower deficit and consequently a lower debt-to-GDP ratio was formed,” Galstyan said.

In his words, the state budget deficit decreased by 41,4 billion AMD in 2019 compared to the previous year and stood at 1% of GDP.