Audits reveal over 68m dollars embezzled from Armenian budget

Arminfo
12 May 05

YEREVAN

Financial irregularities totalling 36.29bn drams (68.1m dollars) were
revealed in the spending of budget funds in Armenia in 2004, the
governmental press service has told Arminfo.

Of this sum, 34.7bn drams, or 95.7 per cent, is to be repaid to the
state budget. The irregularities were discovered following 189 audits,
instead of 85, conducted by the financial audit department of the
Ministry of Finance and Economy. Forty-seven out of the 104 additional
audits were carried out at the request of the law-enforcement
agencies.