YEREVAN, March 10. / ARKA /. Armenia’s government revenue in January 2014 amounted to about 80.3 billion drams (33.5 percent of the first quarter target), while its spending was 47.7 billion drams (18 percent of the first quarter target), the finance ministry reported today.
The revenue was 6.7 % or 5.1 billion drams more than in 2013 January. The ministry said the growth was secured largely by increased collection of income and some other taxes. Some 91.1 % of the revenue was collected as taxes and state dues and 8.9% as other taxes.
According to the finance ministry, the 2014 January spending was 3.6 % or 1.7 billion drams higher from the year earlier. The growth was due to increased current spending. Transactions with non-financial assets declined, the ministry said.
Of collected 80.3 billion dram revenue some 73.1 billion drams, collected as taxes and state dues, went to the budget. The growth of tax revenues was mainly due to increase in income taxes and VAT.
The 2014 government budget calls for collection of 1.135 trillion drams in revenue. The projected spending is 1.245 trillion drams. The projected budget deficit is 110 billion drams or 2.3% of the GDP. The projected current account deficit is 8.6%. ($ 1 - 414.54 drams). -0 -