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-