YEREVAN, October 9. /ARKA/. Armenia’s government budget was executed with surplus of around 62.3bln drams in January-August 2013, the press office of the country’s ministry of finance told ARKA referring to head of reporting and budget fulfillment analyses of the ministry Gayane Zargaryan.
For comparison, the budget plan envisaged a surplus of 12.4 billion drams for nine months of 2013, according to the report.
Zargaryan said budget receipts rose by 108.5bln drams or 18.5% to 696.3bln drams in 8 months of 2013, compared to the same period of the year before.
Collection of tax revenues and state duties amounted to about 657 billion drams in January-August, she said.
On-budget expenditures rose by 7.6% or 44.9 billion drams to a total of 634 bln drams compared to the last year level. According to Zargaryan, spending grew mainly due to increased current expenditures that rose by 7.9% or 43.3bln drams to 590.2bln drams against the same period of the year before.
Under the 2013 budget approved by the parliament on December 5 2012, receipts were 1 trln 32.7bln drams, expenditures were 1 trln 152.5bln drams, tax receipts and state duties 993.08bln drams (118.7bln higher than the 2012 planned level). Budget deficit was planned at 119.7bln drams or 2.6% of the GDP. Deficit is to be covered from net receipts of local and foreign sources – 55.1 and 64.6bln drams respectively. The targeted inflation level is within 4±1.5% and GDP growth at 6.2%. ($1=411.3drams). --0—