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%.

POST A COMMENT
Input digits     


News
Tax collections overfulfilled by almost 20% - State Revenue Committee  of ArmeniaTax collections overfulfilled by almost 20% - State Revenue Committee  of Armenia
Money transfers actively flowing to Armenia from Russia are no less  actively flowing  to U.S.Money transfers actively flowing to Armenia from Russia are no less  actively flowing  to U.S.
Armenia`s economy minister meets with SME Cooperation Association  repsArmenia`s economy minister meets with SME Cooperation Association  reps
Converse Bank to present Converse Leasing product at Leasing Expo  2023 exhibition Converse Bank to present Converse Leasing product at Leasing Expo  2023 exhibition 
IDBank`s Visa Business Platinum card now with more profitable termsIDBank`s Visa Business Platinum card now with more profitable terms
Armenia, Georgia discuss joint investment projectsArmenia, Georgia discuss joint investment projects
Armswissbank issues 3 bonds from 1st of juneArmswissbank issues 3 bonds from 1st of june
Ministry of Territorial Administration and Infrastructures believes  that regular flights at Kapan airport to be launched this yearMinistry of Territorial Administration and Infrastructures believes  that regular flights at Kapan airport to be launched this year
FLYONE ARMENIA launches  Yerevan-Tehran-Yerevan direct flightsFLYONE ARMENIA launches  Yerevan-Tehran-Yerevan direct flights
Decline in sales volumes in duty-free stores forced government to  ease tight restrictions on cash transactionsDecline in sales volumes in duty-free stores forced government to  ease tight restrictions on cash transactions
Vahan Kerobyan: feasibility study of Dry Port project is being  carried out by Dutch company; results to be ready in a few monthsVahan Kerobyan: feasibility study of Dry Port project is being  carried out by Dutch company; results to be ready in a few months
PSRC: there are opportunities in Armenia for construction of solar  power plants with a total installed capacity of up to 1 thousand  megawatts, but...PSRC: there are opportunities in Armenia for construction of solar  power plants with a total installed capacity of up to 1 thousand  megawatts, but...
Minister: domestic and international tourism indicators equalized in  ArmeniaMinister: domestic and international tourism indicators equalized in  Armenia
Pashinyan: Since July 1, 2023, RA citizens` pensions to be increased  once againPashinyan: Since July 1, 2023, RA citizens` pensions to be increased  once again
Growth of budget revenues conditioned by three main factors: economic  growth indicators, shadow reduction, implemented reforms - PashinyanGrowth of budget revenues conditioned by three main factors: economic  growth indicators, shadow reduction, implemented reforms - Pashinyan
AraratBank underwrites FINCA UCO bondsAraratBank underwrites FINCA UCO bonds
Team NGN`s 25Gbps network is already available to 150,000 households  in ArmeniaTeam NGN`s 25Gbps network is already available to 150,000 households  in Armenia
Pashinyan: Armenia considers it important to form collective food  security system in EAEUPashinyan: Armenia considers it important to form collective food  security system in EAEU
Trade, services and construction continue to be main drivers of  double-digit growth in economic activity in ArmeniaTrade, services and construction continue to be main drivers of  double-digit growth in economic activity in Armenia
Armenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New YorkArmenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New York
Transavia Airlines to start Marseille-Yerevan-Marseille operating  flightsTransavia Airlines to start Marseille-Yerevan-Marseille operating  flights
Georgia refutes information about launch of shipment to NovorossiyskGeorgia refutes information about launch of shipment to Novorossiysk
Batumi-Novorossiysk ferry service put into operation Batumi-Novorossiysk ferry service put into operation 
Plant producing aluminum radiators to be put into operation in  ArmeniaPlant producing aluminum radiators to be put into operation in  Armenia
Vahan Kerobyan on Vahan Kerobyan on "impressive" indicators of FDI in Armenian economy
Yerevan brandy company could stop exports to RussiaYerevan brandy company could stop exports to Russia
Kaps reservoir construction project resumed in Armenia Kaps reservoir construction project resumed in Armenia 
CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization 
ANIF to invest EUR 3.9mln in Universal Closures company ANIF to invest EUR 3.9mln in Universal Closures company 
Germany to assist Armenia in strengthening local government systemGermany to assist Armenia in strengthening local government system
Fix Price announces entry into Armenia`s marketFix Price announces entry into Armenia`s market
Presentation of ROBBO company held in Armenia Presentation of ROBBO company held in Armenia 
EBRD improves its GDP growth forecast for Armenia EBRD improves its GDP growth forecast for Armenia 
FLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-YerevanFLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-Yerevan
Armenian Diaspora of United States is ready to invest in  technological development of ArmeniaArmenian Diaspora of United States is ready to invest in  technological development of Armenia
CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023
Foreigners` transactions on buying and selling property  reduced in  ArmeniaForeigners` transactions on buying and selling property  reduced in  Armenia
In Yerevan, real estate market activity is declining, but prices  continue to riseIn Yerevan, real estate market activity is declining, but prices  continue to rise
RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia 
German investments for the sake of Armenia`s sustainable developmentGerman investments for the sake of Armenia`s sustainable development
Bright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sectorBright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sector
EDB discusses and implements number of energy projects in Armenia -  Head of BankEDB discusses and implements number of energy projects in Armenia -  Head of Bank
EDB is ready to support Amulsar mine development project - PodguzovEDB is ready to support Amulsar mine development project - Podguzov
Armenian-Czech business forum held in Prague Armenian-Czech business forum held in Prague 
Armenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEWArmenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEW
EAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with IranEAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with Iran
Union of Banks of Armenia presented awards to employees of ArmInfo  for their professional activities in covering financial and banking  sectorUnion of Banks of Armenia presented awards to employees of ArmInfo  for their professional activities in covering financial and banking  sector
CBA Deputy Governor singles out three key factors ensuring growth of  Armenia`s economy last yearCBA Deputy Governor singles out three key factors ensuring growth of  Armenia`s economy last year
Armenia`s state treasury revenues from leasing of state property  increased by 67.7% in 2022Armenia`s state treasury revenues from leasing of state property  increased by 67.7% in 2022
WB to issue 92.3mln Euro loan to Armenia for supporting country`s  budgetWB to issue 92.3mln Euro loan to Armenia for supporting country`s  budget
Iranian company to construct modern checkpoint in Armenia`s MeghriIranian company to construct modern checkpoint in Armenia`s Meghri
Environment Ministry, KfW sign agreement for implementation of EUR 26  million program Environment Ministry, KfW sign agreement for implementation of EUR 26  million program 
43 young people graduated from joint training programme organized by GITC and HSBC Armenia43 young people graduated from joint training programme organized by GITC and HSBC Armenia
Armenian, Lebanese ministers of economy discuss development of  economic ties  Armenian, Lebanese ministers of economy discuss development of  economic ties  
Minister of Economy: Relocation impact on Armenia`s economic growth  is estimated at one thirdMinister of Economy: Relocation impact on Armenia`s economic growth  is estimated at one third
AMD 3,389,788 for the project to reveal the professional potential of war participants. The next beneficiary of AMD 3,389,788 for the project to reveal the professional potential of war participants. The next beneficiary of "The Power of One Dram" is the "Path of Life" NGO
After 12-year break, airBaltic resumes flights on Riga-Yerevan-Riga  routeAfter 12-year break, airBaltic resumes flights on Riga-Yerevan-Riga  route
PSRC announced results of tender for license to launch 5G networks in  ArmeniaPSRC announced results of tender for license to launch 5G networks in  Armenia
FlyOne Armenia plane makes emergency landing in IranFlyOne Armenia plane makes emergency landing in Iran
Specific debt burden per capita in Armenia continues to grow rapidly,  approaching $4.000Specific debt burden per capita in Armenia continues to grow rapidly,  approaching $4.000
Read more


Exchange rates
01.06.2023
RUB4.780.01
USD386.980.36
EUR414.491.73
GBP482.534.59
CAD285.282.04
JPY27.730.11
CNY54.53-0.06
CHF426.241.57