SUCCESSFUL FULFILLMENT OF ARMENIA’S 2008 STATE BUDGET GIVES GOVERNMENT ROOM TO RESIST CHALLENGES
/ARKA/
April 23, 2009
YEREVAN
Successful implementation of Armenia’s 2008 state budget gave the
Government room for forming reserves for resisting current challenges,
Armenian Prime Minister Tigran Sargsyan said at a governmental meeting
on Thursday.
At that meeting, the Government upheld Finance Ministry’s report on
fulfillment of the 2008 state budget.
The report will be sent to National Assembly before May 1.
"We have managed to save about AMD 77 billion. While using these
funds now, we take into account quite considerable impact of the
global crisis on the budget revenue", Sargsyan said.
He said that the saved funds enabled the Government to fulfill social
payments to shield citizens from the impact.
"Additional efforts should be made to avoid problems at the second
half of the year", he said.
Finance Minister Tigran Davtyan, presenting key provisions of the
budget, said that successful fulfillment of the budget revenue and
expenditure in 2008 saved funds.
"According to the annual report, revenue totaled AMD 785.3 billion,
expenses AMD 810.6 billion and deficit AMD 25.2 billion", he said.
The minister said that AMD 746 billion was planned in the 2008 initial
state budget approved by National Assembly, but after corrections
made over the year, the revenue was set at AMD 803.6 billion.
"In fact, 105% of the initial budget revenue and 97.7% of amended
budget expenditure were implemented by late 2008", he said adding
that this was due to under-received funds on grants, particularly
implied by Millennium Challenges Program.
Davtyan said that revenue indicators show considerable overfulfilment
of the budget.
"We have managed to ensure AMD 770 billion fulfillment. This exceeds
indicators of the initial budget by 8.3% and the amended budget by
0.7%", he said.
The minister said that tax and customs receipts were planned at AMD
577.1 billion in the initial and AMD 619 billion in the corrected
budgets.
He said that AMD 621 billion receipts were insured.
This amount 4% greater than that planned in the initial budget and 0.2%
greater than in the amended budget.
"Tax/GDP ratio was 17.02% in 2008 against 17% planned in the initial
budget", the minister said.
Davtyan also said that in the initial state budget, expenses were
planned to total AMD 822 billion in 2008 and fulfillment exceeded
AMD 810 billion by latte 2008.
"The money accumulated over the year is targeted for supporting
fulfillment of the 2009 state budget", he said.
The finance minister said that deficit amounted to AMD 25.2 billion
while in the initial budget it was planned at AMD 76 billion and in
the amended budget AMD 56 billion.
0D "So deficit/GDP ratio was recorded at 0.48% in 2008. This is quite
low indicator that laid favorable ground for 2009" Davtyan said. ($1 =
AMD 370.46).
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Subject: =?utf-8?Q?Successful_fulfillment_of_Armenia=E2=80= 99s_2008_state_budget_g?=
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Successful fulfillment of Armeniaâ??s 2008 state budget gives government
room to resist challenges
YEREVAN, April 23. /ARKA/. Successful implementation of Armeniaâ??s 2008
state budget gave the Government room for forming reserves for
resisting current challenges, Armenian Prime Minister Tigran Sargsyan
said at a governmental meeting on Thursday.
At that meeting, the Government upheld Finance Ministryâ??s report on
fulfillment of the 2008 state budget.
The report will be sent to National Assembly before May 1.
â??We have managed to save about AMD 77 billion. While using these funds
now, we take into account quite considerable impact of the global
crisis on the budget revenueâ??, Sargsyan said.
He said that the saved funds enabled the Government to fulfill social
payments to shield citizens from the impact.
â??Additional efforts should be made to avoid problems at the second half
of the yearâ??, he said.
Finance Minister Tigran Davtyan, presenting key provisions of the
budget, said that successful fulfillment of the budget revenue and
expenditure in 2008 saved funds.
â??According to the annual report, revenue totaled AMD 785.3 billion,
expenses AMD 810.6 billion and deficit AMD 25.2 billionâ??, he said.
The minister said that AMD 746 billion was planned in the 2008 initial
state budget approved by National Assembly, but after corrections made
over the year, the revenue was
set at AMD 803.6 billion.
â??In fact, 105% of the initial budget revenue and 97.7% of amended
budget expenditure were implemented by late 2008â??, he said adding that
this was due to under-received funds on grants, particularly implied by
Millennium Challenges Program.
Davtyan said that revenue indicators show considerable overfulfilment
of the budget.
â??We have managed to ensure AMD 770 billion fulfillment. This exceeds
indicators of the initial budget by 8.3% and the amended budget by
0.7%â??, he said.
The minister said that tax and customs receipts were planned at AMD
577.1 billion in the initial and AMD 619 billion in the corrected
budgets.
He said that AMD 621 billion receipts were insured.
This amount 4% greater than that planned in the initial budget and 0.2%
greater than in the amended budget.
â??Tax/GDP ratio was 17.02% in 2008 against 17% planned in the initial
budgetâ??, the minister said.
Davtyan also said that in the initial state budget, expenses were
planned to total AMD 822 billion in 2008 and fulfillment exceeded AMD
810 billion by latte 2008.
â??The money accumulated over the year is targeted for supporting
fulfillment of the 2009 state budgetâ??, he said.
The finance minister said that deficit amounted to AMD 25.2 billion
while in the initial budget it was planned at AMD 76 billion and in the
amended budget AMD 56 billion.
0D
â??So deficit/GDP ratio was recorded at 0.48% in 2008. This is quite low
indicator that laid favorable ground for 2009â?? Davtyan said. ($1 = AMD
370.46). M.V. –0–
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