State budget revenues of Armenia reached 328 bln AMD in Jan-April 2016 with 5 bln AMD y-o-y growth

ArmInfo. State budget revenues of Armenia reached 328 bln AMD in Jan-April 2016 versus 323 bln last year. More than 95% is the share of taxes and duties. In March-April alone revenues of budget totaled 178.3 bln versus 170.5 bln in the same period of 2015.

As the State Revenue Committee of Armenia informs this growth allowed not only neutralizing the negative trend registered in Jan-Feb 2015 and 2016, but also ensuring y-o-y growth by 5 bln AMD in Jan- Apr.  Particularly, in Jan-Feb 2016 tax and customs services ensured 148.4 bln AMD revenues, which is less than the indicator of 2015 by 3.6 bln AMD.

According to the National Statistical Service of Armenia in Jan-March 2016 budget revenues totaled 244.041bln AMD and expenditures 281.9 bln, as a result the deficit reached 37.9 bln AMD.  Particularly, budget revenues declined by 1.3% y-o-y amid growth of expenditures by 5.3% and this increased the deficit by 74.7%. In the structure of tax revenues y-o-y drop was registered only in terms of VAT by 10.5%, customs duty by 20.8%, payments for use of natural resources and environment protection by 35.3% and the biggest growth in terms of income tax (2-fold), sale tax (29.7%), profit tax (26%) and excise tax (20.3%). Exchange rate for March 31 2016 was fixed at 480.79 AMD/$1 and on April 29 2016 at 478.61 AMD/$1.