Saturday, April 29 2017 13:14
Karine Melikyan

Budget deficit of Armenia by April 2017 decreased by 2 times year-on-year

Budget deficit of Armenia by April 2017 decreased by 2 times year-on-year

ArmInfo. The budget deficit of Armenia in the first quarter of 2017 amounted to 19.2 billion AND ($ 39.8 million), having decreased almost twofold in the annual cut, against the growth by 53% a year earlier.

According to the National Statistical Service of Armenia, the revenues of the Armenian budget in the course of the year have changed the dynamics from the 1.2% decline to 7.9% growth - up to 270.3 billion AMD, against which the expenses slowed the upward trend from 5% to 2.1 %, Amounting to 289.5 billion AMD. A month-on-month slump recorded a sharp decline from the January surplus (25.3 billion AMD) to the February deficit (24.7 billion AMD), followed by a 28.5% deficit reduction in March to 19.8 billion, thanks to a more accelerated revenue growth - by 10.4% up to 97.6 billion AMD, rather than expenses by 3.9% to 117.5 billion AMD.

In the revenue structure, the share of taxes and duties increased year-on-year (Q1 2017 to the same period in 2016) - from 92% to 94.5%, increasing by 10.6% to 255.5 billion AMD in absolute terms (against a slight decline in the year previously). In particular, the annual dynamics improved with the exit from the downward trend in revenues from customs duties - from 20.8% decline by 17.5% growth - to 13.6 billion AMD, proceeds from payments for the use of natural resources and preservation of the surrounding of the 35.3% decline sharply increased by 3.5 times to 8.8 billion AMD, income from the value-added tax changed the dynamics from the 10.5% decline to the 12.8% growth - to 97.7 billion AMD. At the same time, the upward trend kept income from the income tax - by 4.2% to 76.2 billion AMD, turnover tax - by 17.5% - to 4.01 billion AMD, targeted social payments - by 18.1% - to 3.3 Billion AMD, excise tax - by 19% - up to 14.9 billion AMD, along with increased fixed payments - by 14.4% to 821.5 million AMD.  From the growth to the recession, the annual dynamics of income from income tax was changed - by 3.1% to 23.9 billion AMD, and from state duty - by 2.2% to 6.9 billion AMD.

Against this backdrop, budget expenditures demonstrate modest growth rates, with the exception of reduced costs for the purchase of goods and services - by 16.3% to 25.2 billion AMD, and subsidy expenses by 17.7% to 20.6 billion AMD. According to the annual growth in the first quarter of 2017, expenditures on non-financial assets are leading - by 24% to 13.5 billion AMD. Interest payments on state debt increased by 3.9% to 29.2 billion AMD, of which 20.5 billion, with annual growth of 1.7% - on external debt. In the structure of expenditures on grants, 37.7 billion AMD were allocated during the reporting period, with an annual growth of 10.3%, for benefits and pensions - 97.2 billion AMD with an annual growth of 4.1%, for salaries - 28.3 billion AMD with annual growth of 3.9%.

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