Budget deficit in Jan-August is 1.2 billion drams

YEREVAN, October 5. / ARKA /. The state budget deficit in the first
eight months of this year was 1.2 billion drams, Gayane Zargaryan,
head of a finance ministry department ministry, told a news
conference. She said the projected deficit for the first three
quarters is 57.4 billion drams.

She said the bulk of revenue – 553.5 billion drams – was collected as
taxes, customs and state dues and mandatory social payments, which by
8 percent or 41.5 billion drams are more from a year before. She said
the growth was secured by increased collection of income, profit and
value added taxes.

The spending amounted to 589.1 billion drams, by 3.9% or 22.2 billion
drams more from a year earlier.

The greater part of the spending – 546.9 drams- were current expenses,
by 7.1% or 36.4 billion drams more form a year earlier.

The 2012 draft budget calls for 911.6 billion drams in revenues and
1.044.1 trillion drams in spending. The amount of revenue is projected
to increase by 6.8% from last year’s budget (852.4 billion drams). The
spending is expected to grow by 41.5 billion drams. ($1 – 408.38
drams). -0-

From: Emil Lazarian | Ararat NewsPress