5.1 BILLION DRAMS ALLOCATED TO ARMENIA’S FUEL AND ENERGY SECTOR IN 2006

Noyan Tapan
Sep 7, 2007

YEREVAN, SEPTEMBER 7, NOYAN TAPAN. In 2006, the expenditures
of Armenia’s fuel and energy sector made 5.1 bln drams (about
12.75 mln USD), which was 89.6% of the sum envisaged by the state
budget. Investments in the sector are mainly made with credit and grant
resources from foreign sources, and the low index of expenditures in
the sector was mainly conditioned by their low fulfilment index of
these grant and credit programs, the RA deputy minister of finance
and economy, chief treasurer Atom Janjughazian said at the September
7 joint sitting of the RA NA standing committees.

In his words, the budgetary expenditures on the energy sector grew
by 39.8% or 1.4 bln drams as compared with 2005, which was due to
a considerable growth in expenses incurred under the program on
reconstruction of the electricity transmission sector implemented
with the assistance of KfW Bank (Germany).

3.6 bln drams was allocated from the 2006 state budget to the
electricity energy sector, which was 86% of the envisaged sum. The
deviation was mainly conditioned by the low fulfilment index of
the WB credit program on repairs of electric transmission lines and
distribution networks, as well as by non-implementation of the credit
and grant programs on renewable energy. All the envisaged sum of
854.8 mln drams was allocated to the atomic energy sector in 2006 –
for construction of the storehouse for keeping the spent nuclear fuel
of the Armenian Nuclear Power Plant by using a dry method.