Investor Presentaiton slide image

Investor Presentaiton

Armenia INVESTING IN INFRASTRUCTURE AND SPENDING LOW ON SOCIAL BUDGET EXPENDITURES EXPENDITURE BREAKDOWN: CURRENT VS. CAPITAL Source: MOF, Geostat, forecasts as of 2022 budget law Source: MOF, forecasts as of 2022 budget law 25,000 50% 100% 80.0% 81.7% 76.0% 78.1% 80.0% 72.5% 73.4% 74.2% 73.1% 72.2% 75.2% 76.0% 71.9% 34.9% 20,000 15,000 33.1% 40% 80% 32.3% 29.4% 29.4% 27.6% 28.4% 28.6% 29.4% 29.4% 31.5% 28.2% 27.7% 30% 60% 10,000 20% 40% 27.5% 26.6% 24.0% 25.8% 26.9% 27.8% 28.1% 20.0% 18.3% 21.9% 20.0% 24.8% 24.0% 5,000 10% 20% о 0% 0% Expenditures (current + capital), GEL mn Expenditures (current + capital) as % of GDP GOVERNMENT SOCIAL EXPENDITURE AS % OF GDP Source: IMF, MOF Georgia Lithuania Current expenditures 25% 10% 2019 2020E 2021F 2019 2020E ■2021F 7.9% 19.4% 20% 17.4% 17.6% 8% 16.5% 6.5% 15.7% 14.6% 14.8% 15% 6% 4.9% 10.7% 4.4% 4.6% 10% 8.0% 3.4% 3.7% 4% 2.9% 3.0% 5% 2% 0% 0% GOVERNMENT CAPITAL EXPENDITURE AS % OF GDP Capital expenditures and net lending 2021F Source: IMF, MOF 2022F 47
View entire presentation