ARMENIA’S STATE BUDGET REVENUES, OFFICIAL TRANSFERS 588BLN AMD LAST YEAR
ARKA
Nov 19, 2008
YEREVAN, November 19. /ARKA/. Armenia’s state budget revenues and
official transfers totaled 588bln AMD in 2007 – an increase of 33.2%
as compared with the previous year.
Gagik Gabrielyan, Head of the Economic Team, Armenian-European Policy
and Legal Advice Center (AEPLAC) reported that
The increased revenues can be attributed to increased revenues from
taxes and duties, which is evidence of improved tax administration,
Gabrielyan said at the presentation of AEPLAC-made annual report
"Economic developments in Armenia – 2007".
Despite a rather high level of budget execution, Armenia is behind
most of the 60 countries involved in the AEPLAC-conducted survey.
The share of budget revenues in the country’s GDP remains low (18.7%),
which is far less than in the other countries involved in the survey,
he said. Gabrielyan pointed out that this figure is 40-60 per cent
in developed countries.
He also pointed out the extremely small shares of obligatory social
insurance (3.6%) and communities’ budgets (1.6%).
"Small shares of state revenues are evidence of a small tax base,
which, in turn, is evidence of insufficient production of expensive
products and of a large scale of shadow economy," Gabrielyan said.