ARMENIAN GOVERNMENT LIVES IN GRAND STYLE

Information-Analytic Agency NEWS.am
Aug 25 2009
Armenia

In the first half of this year, budget revenues totaled 359bln AMD, and
on-budget expenditures 426.5bln AMD, thereby ensuring the respective
67.1% and 70.3% of the RA Government-specified 10-month program.

The press service of the RA Ministry of Finance reported that the
annual budget was thus executed 39.9% and 47.6% respectively.

In the fist half of 2009, budget revenues decreased by 55bln
AMD (13.3%) as compared with the corresponding period last
year. Specifically, budget revenues taxes and duties registered a
decrease of 61.5bln AMD (18.1%). Official grants exceeded 2.7bln AMD
(a decrease of 3.1%).

During the period under review, compulsory social insurance payments
and other budget revenues registered an increase of 1.7bln AMD and
4.8bln AMD or 3.2% and 31.5% respectively. Foreign donor provided
a total of 242.5bln AMD to Armenia as credit funds. Specifically,
the Russian Government provided 185.1bln AMD, and the International
Monetary Fund (IMF) 57.4bln AMD.