BUDGET REVENUES UP IN KARABAKH IN 2008

NKR Public Television
Jan 21 2009
Nagorno Karabakh Republic

Budget revenues in Nagornyy Karabakh increased by 25.6 per cent in
2008 on the previous year despite the global financial crisis, the
region’s president said on 21 January.

In 2008, the revenues amounted to 17.271bn Armenian drams, or 56.6m
dollars, Bako Sahakyan said at a meeting with tax officials, Karabakh’s
public television reported.

Nagornyy Karabakh’s economy was affected by the global financial
crisis, as the region’s largest taxpayer, Base Metals which is
developing local gold and copper mines, cut production, depriving
the budget of 5.2m dollars, Sahakyan said.