Armenia's state budget revenues decline by 55 billion AMD

PanARMENIAN.Net - Between January and July of 2009 Armenia's budget revenues reached about 359 billion AMD, while expenses amounted to 426.5 billion AMD. Over the reported period, the budget deficit of Armenia reached 67.5 billion AMD.



According to the annual program, the revenues are fulfilled at 39.9 per cent and expenditures - at 47.6 per cent, RA ministry of finance reports in its generalized description of the state budget implementation for January-July 2009.



Armenia's budget revenues declined by 13.3 per cent or by 55 billion AMD, as compared with the same period of last year. In particular, tax revenues decreased by 18.1 per cent (61.5 billion AMD) and the official grants reduced by 3.1 per cent (2.7 billion AMD).



Payment of mandatory social insurance and other revenues increased by 3.2 per cent (1.7 billion AMD) and 31.5 per cent (4.8 billion AMD) respectively.



77.8 per cent of budget revenues are generated through taxes, 15.8 per cent account for compulsory social insurance, and 0.8 per cent through official grants.



Between January and July this year The Armenia' s state budget received 279.2 billion AMD of taxes, ensuring the implementation of the nine-month program at 65.2 per cent, and the annual level at 38.1 per cent.