Revenues of 676.7 billion drams programmed under 2010 draft state
budget of Armenia

YEREVAN, NOVEMBER 7, NOYAN TAPAN. Under the 2010 draft state budget of
Armenia, revenues of 676.7bn drams are programmed, which is less by
21.2% as compared to the approved revenues of 858.6bn drams for 2009.
The reduction of the 2010 budget revenues compared to the 2009
programmed index is mainly conditioned by the decline in the
programmed amount of tax and state duty revenues, which in its turn is
a result of Armenia’s economic decline this year. The state budget
revenues/GDP ratio is expected to make up 21% in 2010 – compared to
20.6% in 2009, First Deputy Minister of Finance Pavel Safarian
announced at the November 6 joint sitting of the NA Standing
Committees.

Revenues from taxes and state duties make up 78.8%, compulsory social
payments -15.6% or 105.2bn drams, official grants – 2.2% of 15bn
drams, and other revenues – 3.4% or 23.4bn drams of the total amount
of budgetary revnues envisaged by the 2010 draft state budget of the
RA.

Tax revenues and state duties have been programmed to amount to 533bn
drams or by 200bn drams less than the approved index of 2009, at the
same time by 28bn drams more than the amount expected in 2009. The
government plans to collect 11bn drams out of the programmed amount
through various administrative measures.

It is expected to receive official grants of 15bn drams from foreign
states and international organizations.

The draft state budget was calculated based on the settlement exchange
rate of 376 drams per dollar.