Armenian government secures 27.5 billion drams in surplus funds in four months
01.06.2013,
16:29
In the first four months of the year the government had secured 27.5 billion drams in surplus funds, according to Gayane Zargaryan, head of a finance ministry department in charge of budget performance analyses, who said today that the taxmen had collected 324.7 billion drams in revenue in the first four months of the year, a 23.5 percent rise (61.7 billion drams), when compared to the first four months of 2012.
YEREVAN, June 1, /ARKA/. In the first four months of the year the government had secured 27.5 billion drams in surplus funds, according to Gayane Zargaryan, head of a finance ministry department in charge of budget performance analyses, who said today that the taxmen had collected 324.7 billion drams in revenue in the first four months of the year, a 23.5 percent rise (61.7 billion drams), when compared to the first four months of 2012.
She said the projected deficit for the first six months is 2.2 billion drams, but due to higher than planned revenue collection rate, the amount of free funds rose by 232.5 million drams against 41.8 billion drams in spending.
She said 95.1% of the revenue (308.8 billion drams, or 65.9 percent of the amount projected for the first six months) was collected as taxes and state dues, 4.7 percent as other revenue and 0.2 percent as official grants. In the first four months of 2012 profit rose by 24 percent or 59.7 billion drams mainly due to improved collection of VAT and customs dues.
She said the spending in the first four months of 2013 amounted to 297.2 billion drams, by 10.5 percent or 28.2 billion drams more from a year before securing thus 59.2 percent of the spending projected for the first half.
She said the current spending rose by almost 11 percent or 27.7 billion drams year-on-year to 283.9 billion drams. She said no government agency had accrued debts in the reporting period of time.
The 2013 budget calls for 1.032.7 trillion drams in revenue and 1.152.5 trillion drams in spending. Of that amount 993.08 billion drams are to be collected as taxes and state dues, by 118.7 billion drams more than in the first four months of 2012. The projected deficit is 119.7 billion drams or 2.6% of the overall GDP. The deficit is to be financed by internal and external sources -55.1 billion and 64.6 billion drams respectively. The projected inflation is 4±1.5% and the projected GDP growth is 6.2%. ($1 – 419.08 drams). -0-
