ARKA News Agency Explaining Report of Finance Ministry’s Press Office

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Economy

14.09.2008, 03:00

Armenian Finance Ministry issued a report on Saturday on the country’s preliminary draft budget for 2009.

YEREVAN, September 13. /ARKA/. Armenian Finance Ministry issued a report on Saturday on the country’s preliminary draft budget for 2009.

According to the ministry’s press release, expenses were to be AMD 954.8 billion instead of AMD 701 billion in ARKA News Agency’s report “Armenian Government Approves Preliminary Draft Budget for 2009”.

ARKA News Agency took these figures from Armenian Government’s official website.

According to the site, current revenue is AMD 908 billion and current expenses over AMD 761 billion.

The only fault of the agency is the missing word “current”, since current, not total expenses and revenue were meant.

Besides, the ministry says that the2008 budget is calculated on foreign exchange rate $1=AMD 325.16, while in the mentioned publication 302.66 was instead of it.

Our subscribers know that the agency presents daily foreign exchange rate at the end of each news report, which has nothing in common with the average market foreign exchange rate put in the budget. –0-

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