“The budget expenses of 2009 will have to be cut again,” during yesterday’s press conference stated the minister of finances of RA Tigran Davtyan. Let us remember that the Armenian state budget for 2009, drawn up before the onset of the crisis, calls for 945 billion drams in expenditures and the government planned to cut the budgetary expenditures to 911 billion drams. A further cut to a 900-billion-dram expenditure pattern now looks possible. “This also depends on the performance, on the rate of implementation of loan programs,” added Davtyan.
