Over Q3 2010 Armenia\'s economy dollarization level fell by 3%. According to the press service of the Central Bank of Armenia (CBA) this happened thanks to the dedollarization measures taken by the CBA and government. According to the CBA data, over Q3 2010 the volume of AMD deposits in the country\'s commercial banks grew by 9.4%, while foreign exchange deposits fell by 0.7%. Exchange rate fluctuations exclusive, the foreign exchange deposits grew by 0.8%.
. In 2011 the social expenditures of the state budget of Armenia will total AMD 268.4 bln, says the draft state budget for 2011. The hearings on the state budget 2011 are being held in parliament. As compared with the volume planned for 2010, the figure has grown by 9.8%, and the ratio against GDP - by approximately 0.9 percentage points.
In case of necessity to restrain inflationary factors, reduction of money supply may be called grounded. To recall, under the EFF/ECF agreement between Armenia and the International Monetary Fund, the Armenian government will save half of tax revenues more than targeted. \"There is such agreement, and if we set a task to maintain inflationary factors, the reduction of money supply may be called grounded\",- said the minister. As regards further use of the funds, the directions of expenditures will be discussed when elaborating the state budget for 2011.
The government\'s forecasts for tax collection and social payments stipulated in the state draft budget 2011 are somewhat low, Chairman of the Central Bank of Armenia Artur Javadyan told during the hearings on the draft state budget at the National Assembly of Armenia. \"The growth of ratio of taxes and social payments against GDP is envisaged at only 0.3%. We think that the growth may be even higher\", said Javadyan when presenting the Central Bank\'s conclusion on the draft state budget. \"The premises of economic recovery were observed at the beginning of the year, which created favorable conditions for tax collection and reduction of the state budget deficit.
