ARMENIA POSTS BUDGET DEFICIT IN 2008
Interfax
Feb 2 2009
Russia
Armenia posted a budget deficit of 1.5 billion dram, or 0.04% of GDP,
in 2008, the National Statistics Service said in a press release.
Revenue totalled 759.1 billion dram, or 20.8% of GDP. Tax revenue
amounted to 598.7 billion dram, or 16.4%.
Spending reached 760.6 billion dram, or 20.8% of GDP. Spending on
defense amounted to 3.3% of GDP, spending on social benefits was 5.8%
of GDP and spending on education 2.7% of GDP.
Armenia’s GDP climbed 6.8% in 2008, compared to the 10% forecast by
the budget. GDP was 3.65 trillion dram.
The Armenian parliament approved the 2009 budget with a deficit of 40
billion dram, or 0.96% of GDP. Revenue was confirmed at 905.4 billion
dram and spending at 945.4 billion.
Disclaimer: This article was contributed and translated into English by Madatian Greg. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2009/02/05/armenia-posts-budget-deficit-in-2008/