STATE BUDGET FULFILLED WITH 20.9 BLN DRAM SURPLUS IN JANUARY-FEBRUARY 2007

Noyan Tapan
Apr 04 2007

YEREVAN, APRIL 4, NOYAN TAPAN. In January-February 2007, the RA
state budget (without the inflow of resources received under credit
programs financed from the foreign sources) was fulfilled by a surplus
of 20.9 bln drams (about 58.1 mln USD). The state budget was financed
in the amount of 20.1 bln drams from domestic sources of financing,
and in the amount of 759.8 mln drams from foreign sources.

According to the RA Ministry of Finance and Economy, the state budget
was negatively financed by 1.9 bln drams at the expense of treasury
bonds (their issue made 6 bln drams, redemption – 7.9 bln drams). 433
mln drams was spent on redemption of promissory notes at the expense
of domestic sources of deficit financing. Available budgetary resources
increased by 17.8 bln drams.

In the period under review, 759.8 mln drams was allocated for payment
of foreign liabilities. This sum was allocated for payment of the US
commodity credit, as well as for payment of liabilities by a number
of programs implemented with the assistance of the World Bank.

In the first two months of this year, 957.5 mln drams was allocated
for servicing the state debt of the RA, which made up 43.5% of the
quarterly program.

557.2 mln drams was allocated for servicing the foreign debt, 400.3
mln drams – for domestic debt. Expenditures on state debt servicing
declined by 15.1% compared with January-February 2006.