Tuesday, June 27 2017 16:00
Naira Badalian

Vardan Harutyunyan: Armenia in 2016 ensured budget program by 96% by taxes

Vardan Harutyunyan: Armenia in 2016 ensured budget program by 96% by  taxes

ArmInfo. The tax revenues to the  state treasury of Armenia for the year 2016 amounted to 1 trillion  79.7 billion AMD. On June 27, in the course of the discussion of the  annual report "On the Execution of the State Budget of the Republic  of Armenia for 2016" in the National Assembly of Armenia, the  Chairman of the Committee of State Revenues of the RA Vardan  Harutyunyan stated.

According to Harutyunyan, due to unfavorable macroeconomic  environment and reduction of taxable imports from 3 countries (by  6.8%) over the past year, it was possible to provide a program  approved by the state budget by 96%. Nevertheless, thanks to  administrative efforts, it was possible to sum up by 2016 the growth  of tax revenues in the amount of 11.8 billion AMD or 1.1% more than  the value of 2015. As a result, the tax revenues of the budget  amounted to 21.3% of GDP, which is 0.1% higher than in 2015.   Meanwhile, Deputy Minister of Finance Atom Janjukhazyan said during  the discussion of the implementation of the 2016 budget, a certain  change occurred in the structure of last year's revenues: the share  of tax revenues increased by 92%. According to him, the state budget  in terms of taxes and duties has been replenished by 1 trillion 80  billion AMD, which is 21.3% of GDP and exceeds the planned figure  (20.7%). Atom Janjukhazyan said that the main share of taxes falls on  VAT - 391 billion AMD, or 36.2%.  In the structure of the budget,  income tax revenues amounted to 127.2 billion AMD, income tax - 332.7  billion AMD.

To note, Armenia for 2016 did not collect taxes and exceeded the  planned deficit level in the state budget by 2%. According to the  state budget of Armenia for 2016, the expenditure item was 1 trillion  377 billion AMD (expenditure/GDP ratio 25.3%), and profitable - 1  trillion 186.3 billion AMD (income/GDP ratio 21.8%) with a deficit of  197 billion AMD (deficit/GDP ratio 3.5%). In the state budget, the  real GDP growth for 2016 was envisaged at the rate of 2.2%, the GDP  deflator index - at a rate of 4%, 12-month inflation - at 4% (+  1.5%), and the state budget deficit - at 3% , 5% of GDP. ($ 1 -  474.34 AMD). In fact, the year 2016 Armenia closed with a GDP growth  of 0.2%.

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