RA STATE BUDGET REVENUES GROW BY 19.2%, EXPENDITURES BY 57.5% IN JANUARY-FEBRUARY 2008 ON SAME MONTHS OF 2007

Noyan Tapan
April 2, 2008

YEREVAN, APRIL 2, NOYAN TAPAN. The RA state budgetary revenues made
99.1 bln drams (about 321.9 mln USD), expenditures – 93.9 bln drams
in January-February 2008, which ensured the execution of the quarterly
program indices by 66.2% and 53.6% respectively.

According to the RA ministry of finance and economy, the annual
programmed indices of the state budget were executed by 13.5%
(revenues) and 12.4% (expenditures). State budgetary revenues grew by
19.2% or about 16 bln drams, while expenditures grew by 57.5% or 34.3
bln drams as compared with January-February 2007. Taxes and duties
increased by 18.7 bln drams, compulsory social insurance payments –
by 1.2 bln drams, official grants – by 12 mln drams, while other
revenues (previously called nontax revenues) declined by over 3.9
bln drams. As a result, the share of taxes and duties grew by 6.6%
in the total amount of revenues, while the share of compulsory
social insurance payments and other revenues declined by 1.3%
and 5.4% respectively. In particular, 79.6% of the state budgetary
revenues formed at the expense of taxes, 3.1% – state duties, 13.6%
– compulsory social insurance payments and 3.7% – other revenues.

In accordance with Article 9 Point 18 of the RA Law on 2008 State
Budget of the Republic of Armenia, off-budget fonds’ resources of
state institutions, whose revenues made about 2 bln drams in the
period under review (against 1.3 bln drams last year), were also
included in the state budget.