ARMENIAN STATE BUDGETARY EXPENDITURES INCREASE BY 70.3% IN JANUARY 2008 ON SAME MONTH OF 2007

Noyan Tapan
March 11, 2008

YEREVAN, MARCH 11, NOYAN TAPAN. The RA state budgetary expenditures
amounted to 32.2 bln drams (over 104.9 mln USD) in January
2008. In particular, current expenditures made 33.1 bln drams,
while expenditures related to operations with nonfinancial assets
made 886.6 mln drams. Budgetary expenditures increased by 70.3%
or 13.3 bln drams as compared with January 2007. This increase was
mainly conditioned by a growth of current expenditures: this growth
made 60.5% or 12.5 bln drams on January 2007.

According to the press service of the RA ministry of finance and
economy, the quarterly program of current expenditures was executed
by 22.3%. Out of the total amount of current expenditures, 1.7 bln
drams was allocated for payment of salaries of state institution
employees. 36.7 mln drams was allocated for compulsory social security
payments. 987.6 mln drams was allocated from the state budget for
the purchase of services and goods.

1.4 bln drams was allocated for servicing of the state debt in
January 2008.

In particular, 1.26 bln drams was allocated for servicing of
the domestic debt, 141,4 mln drams – for servicing of the foreign
debt. State debt servicing expenditures grew 2.9fold as compared with
January 2007. Subsidies from the state budget amounted to 845.9 mln
drams, exceeding 2.1fold the respective index of last year. Grants made
up 16.4% or 5.4 bln drams of the state budget’s current expenditures.