Government collects 159.2 billion drams in revenue in two months, finance ministry

Government collects 159.2 billion drams in revenue in two months, finance ministry

YEREVAN, April 14. / ARKA /. The Armenian government collected 159.2 billion drams in revenue in the first two months of this year and spent 139.7 billion drams, the finance ministry said today.

Compared with the same period last year the revenue collection rate was 2.3% or 3.5 billion drams higher, due to an increase in collection of income and sales taxes as well as other revenues.

According to the finance ministry, taxes and state dues accounted for 92.6 % of the revenue collected in January and February.  Some 7.4% of the revenue was generated by other sources, it added.

According to the ministry, the amount of collected revenue makes 66.3% of the quarterly target, while the spending makes 52.4% of the quarterly target. 

It said also the spending in the first two months this year was 6% or 8 billion drams more year-on-year, due to increasing current expenditures.

The ministry said also about 147.51 billion drams were collected as taxes and state dues - 65.9 % of the quarterly target. The figures actually did not change when compared with the same period in 2013.

The 2014 budget adopted in 2013 December calls for 1.135 trillion drams in revenue and 1.245 trillion spending. The projected budget deficit is 110 billion drams or 2.3% of the GDP, the current account deficit is projected at 8.6%. ($ 1 - 414.54 drams). -0 –

18:28 14.04.2014

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