17.4% growth recorded in revenues of Armenia’s state budget

PanARMENIAN.Net - The incomes of Armenia’s state budget totaled AMD164.1bln during the first quarter of 2010, while the expenditures – 170.1bln, securing fulfillment of the government’s clarified program for the first quarter by 107.2% and 90.5% respectively. According to the annual program, the budget indexes for incomes and expenditures are fulfilled by 22.6% and 19.9% respectively, the RA Ministry of Finances reported in a summarized description of the state budget fulfillment during the first quarter of 2010.

Armenia’s state budget revenues grew by 17.4% or AMD 24.3bln during the first quarter of 2010, as compared with the same period of last year. Specifically, 19.6% (25.1 billion) growth was recorded in taxes, fees and payments for the compulsory social insurance, while the other revenues increased by 9.4% or 859.1 billion. At the same time, the revenues for official grants reduced by 68.2% or 1.7 billion.

Taxes, fees and payments for the compulsory social insurance formed 93.4% of the state budget revenues, while other revenues totaled 6.1% and official grants – 0.5% of it.

Taxes and fees at the amount of 127.1 billion entered the Armenian state budget during the first quarter of 2010, securing 108% fulfillment of the quarterly program.

10.9% (16.7 billion) growth was recorded in the state budget expenditures during the reported period that is basically conditioned by increase in expenditures for non-financial assets, state debt service and payment of allowances, as well as by reduction in proceeds from alienation of non-financial assets.