Thursday, April 27 2017 16:02
Naira Badalian

In 2016, Armenian budget exceeded planned deficit level

In 2016, Armenian budget exceeded planned deficit level

ArmInfo. Armenia for 2016 exceeded  the planned deficit level in the state budget by 2%. This was stated  by the Minister of Finance of Armenia Vardan Aramyan on April 27 at a  meeting of the government presenting a report on the state budget  performance for 2016.

According to the head of the Ministry of Finance, the tax charges for  the state treasury for 2016 amounted to 1.8 billion AMD, which is  lower than the planned figure. At the same time, as the minister  noted, as a percentage of GDP, the figure was overfulfilled by 0.4%,  and as a result, the tax/GDP ratio was 21.1%.

The deficit of state budget of Armenia by 2016 also deviated from the  indicator set in the main financial document of the country,  exceeding it by 2% and making up 5.5%, against the planned 3.5%.

By other indicator, the Minister did not tell the numbers, noting  that all the information on this is already public and the Government  will touch upon them during parliamentary discussions.  

According to Armenian Law on ?Budgetary System? the project of the  document must be presented by May 1st to the Parliament.  To note,  according to the state budget of Armenia for 2016, the expenditure  item was fixed in 1 trillion 377 billion AMD (the ratio of  expenditures/GDP is 25.3%), while the revenue item was 1 trillion  186.3 billion AMD (21.8% revenue/GDP ratio) with a deficit of 197  billion AMD (Deficit/GDP ratio 3.5%).

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