STATE BUDGET REVENUES FROM COMPULSORY SOCIAL SECURITY PAYMENTS GROW BY 12.4% IN JANUARY 2008 ON SAME MONTH OF 2007

Noyan Tapan
March 10, 2008

YEREVAN, MARCH 10, NOYAN TAPAN. The RA state budgetary revenues from
compulsory social security payments made more than 6.2 bln drams (about
20.21 mln USD) in January 2008, as a result of which the quarterly
program was executed by 27.9%. Compulsory social insurance payments
grew by 12.4% or 685 mln drams as compared with the same month of 2007.

According to the press service of the RA ministry of finance and
economy, official grants of 6.1 mln drams were received and transferred
to off-budget accounts of state institutions in January 2008.

Other revenues of the state budget amounted to 2 bln drams in January
2008, as a result of which the quarterly program was executed by
51.5%. This high index was mainly conditioned by the fact that the
revenues of the State Committee of the Real Estate Cadastre adjunct
to the government exceeded the expenditures: 500.1 mln drams was
received instead of the envisaged 70 mln drams.

Other revenues declined by 68.6% on the same period of 2007, which was
conditioned by a payment of 4.6 mln drams made under the reconciliation
agreement with ArmenTel CJSC in 2007. Without this sum, the growth
of other revenues made 20.9% as compared with the same period of
2007 due to an increase of payments for punitive measures envisaged
for offences (50.8%), lease of state property (54.2%), as well as
payments that form the state budget’s other revenues stipulated by
law and other legal acts (45.7%).