Thursday, May 4 2017 17:35
Naira Badalian

Armenia moved beyond the quarterly tax collections plan

ArmInfo. In threee months of 2017  Armenia moved beyond the quarterly tax collections plan. This was  stated by Armenian Finance Minister Vardan Aramyan  on May 4 after  the Government session. 

The Minister reminded that tax revenues of the state budget of  Armenia in 2017 are estimated at  AMD 1 trln 135 bln, or 21% of GDP.  It was planned to collect AMD 77,6 bln in January, and in real this  indicator turned higher for AMD 3 bln. The similar tendency kept  existing in February as well -AMD 83,6 bln has been collected versus  AMD 80 bln planned. 

The anticipatory speed of tax collections  were kept also in March  2017. " In April, due to efforts made, the collection growth  tendencies became obvious, " he stated. Particularly, the April plan  in respect to collections was  overfulfiled  for  AMD 7,5 bln - with   AMD 107,5 bln  actually collected  versus AMD 97 bln planned last  year. According to Aramyan, if the picture remains like this, it will  be possible to reach the corrected indicator of AMD 1 trln 197 bln. 

According to the state budget of the Republic of Armenia, economic  growth in 2017 is planned at 3.2%, nominal GDP growth is within 5%,  with a deflation index of 1.7% (against 2.4% in 2016), a deficit of  150.1 billion AMD. The profitable part of the state budget of Armenia  in 2017 will increase to 1 trillion.  210 billion AMD, expenditure -  to reduce to 1 trillion. 360 billion, the ratio of income/GDP - 22.4%  (against income/GDP - 21.8% in 2016). According to the latest data,  the Central Bank of Armenia improved its economic growth forecast for  2017 to 3.2-4.4% from the previously forecasted 2.2-3.2%. The World  Bank in January forecast laid the GDP growth of Armenia in 2017 by  2.7%. EDB expects GDP growth of Armenia in 2017 by 2.9%. Fitch  forecasted the growth of Armenia's GDP in 2017 by 2.1%, with  acceleration to 3.1% in 2018, the United Nations, to 2.7%, and ADB -  2.2%.

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