Wednesday, January 31 2018 16:29
Alina Hovhannisyan

Budget deficit of Armenia decreased by 4% in 2017

Budget deficit of Armenia decreased by 4% in 2017

ArmInfo. The budget deficit of Armenia in Jan-Dec 2017 amounted to 266.7 billion AMD ($ 552.6 million), having decreased by 4% in the annual section, against growth of 13.4% in 2016.

According to the National Statistical Service of Armenia, the revenues of the Armenian budget accelerated the annual growth rate from 2.1% to 5.6%, while expenses, on the contrary, slowed the growth from 4.1% to 3.8%, amounting to 1237.2 billion and 1503.9 billion, respectively, AMD.

In the revenue structure, the share of taxes and duties increased year on year (from 2017 to 2016) from 92.2% to 93.6%, increasing 7.3% to 1158.1 billion AMD in absolute terms (against 1.1% growth for 2016g). In particular, the annual dynamics improved with the emergence of a downward trend in revenues from payments for the use of natural resources and the preservation of the surrounding environment - from 15.9% decline to 46.5% growth to 40.1 billion AMD, from customs duties - from 9.9% decline to 30.9% growth - up to 72.6 billion AMD, from the value-added tax - from 7.7% decline to 4.5% growth - to 408.8 billion AMD. At the same time, the upward trend with some deceleration kept revenues for the income tax from 6.7% to 2.6% to 341.3 billion AMD, the turnover tax from 28.7% to 19.9% to 18.3 billion AMD , targeted social payments - from 23% to 18.3% growth - to 15.8 billion AMD. Acceleration of the same annual growth rates was fixed in 2017 on revenues from the state duty - from 2.8% to 11.5% - to 37.1 billion drams, fixed payments - from 3.1% to 12.2% - to 3.6 billion AMD, excise The tax - from 22% to 37.8% - to 82.3 billion AMD. The annual dynamics worsened only for income from income tax - from 22.7% growth to 13.5% decline, the volume of which amounted to 109.98 billion AMD.

Against this background , such items as subsidies sharply entered the structure of budget expenditures:  by 6.6% to 112.8 billion AMD (against 4.7 times in 2016) and grants by 15.2% to 133.05 billion AMD (against 2.9% growth in 2016), along with the slowdown in the decline in the purchase of goods and services - by 4.9% to 154.3 billion AMD (against 37.6% decline in 2016). Expenditures on allowances and pensions slowed the annual growth from 3.6% to 1.5%, amounting to 411.1 bln drams, and on wages - accelerated growth from 0.8% to 2%, amounting to 145.3 bln. According to non-financial assets, the dynamics came out of 12 % decline in the 41.8% rise to 237.1 billion drams. Interest payments on state debt slowed the annual growth rates from 32.7% to 24.3%, amounting to 122.1 billion AMD, of which 63.9 billion - on external debt, with a sharp slowdown in growth from 34.2% to 13.7%.

The calculated exchange rate of AMD as of December 29, 2017 was 484.10 AMD / $ 1, and in January- December the average calculated exchange rate of the dram was 482.72 AMD / $ 1.

POST A COMMENT
Input digits     


News
The leadership of the State Revenue Committee of Armenia to visit  IranThe leadership of the State Revenue Committee of Armenia to visit  Iran
Armenian Ministry of Economy to present new economic policy soonArmenian Ministry of Economy to present new economic policy soon
Interview Ms. Sabine Gaber, member of the Executive Board at OeEB with AmeriabankInterview Ms. Sabine Gaber, member of the Executive Board at OeEB with Ameriabank
Ardshinbank to sponsor Olympic Games live streams on Public TelevisionArdshinbank to sponsor Olympic Games live streams on Public Television
EBRD invites Armenian entrepreneurs to become participants in the consultative and training program EBRD invites Armenian entrepreneurs to become participants in the consultative and training program "Learn How ... in the Time of Crisis"
HSBC and Ashoka Joint Green Skills Innovation Challenge Launches in ArmeniaHSBC and Ashoka Joint Green Skills Innovation Challenge Launches in Armenia
Hundreds of enterprises will be closed, we will lose thousands of  jobs - Armenian restaurateurs warn the financial authorities against  the introduction of a common VAT systemHundreds of enterprises will be closed, we will lose thousands of  jobs - Armenian restaurateurs warn the financial authorities against  the introduction of a common VAT system
10% cashback with IDBank Visa cards on the occasion of Family day10% cashback with IDBank Visa cards on the occasion of Family day
Is Armenian Cognac no longer cognac? EU to allocate 3 million euros  to develop a new brand for Armenian brandyIs Armenian Cognac no longer cognac? EU to allocate 3 million euros  to develop a new brand for Armenian brandy
During audit of legality of spending budgetary funds, Ministry of  Finance of Armenia recorded violations in amount of 2.7 billion dramsDuring audit of legality of spending budgetary funds, Ministry of  Finance of Armenia recorded violations in amount of 2.7 billion drams
A year of fragile hopes or double-digit growth: What actually awaits  the Armenian economy in 2021 - Ashot OsipyanA year of fragile hopes or double-digit growth: What actually awaits  the Armenian economy in 2021 - Ashot Osipyan
RA Ministry of Economy: State Program for Leasing Assistance will be  available until the end of 2021RA Ministry of Economy: State Program for Leasing Assistance will be  available until the end of 2021
Presentation of Converse Bank`s online platform for SME financingPresentation of Converse Bank`s online platform for SME financing
Accelerated growth of number of vPOS-s continuesAccelerated growth of number of vPOS-s continues
SRC of Armenia and Armenian office of USAID expressed readiness to  expand cooperation between two bodies SRC of Armenia and Armenian office of USAID expressed readiness to  expand cooperation between two bodies 
Expert: It will be possible to talk about the full recovery of  tourism after 2023Expert: It will be possible to talk about the full recovery of  tourism after 2023
Number of cards on Armenia`s plastic market exceeded 2.5 million, but  the growth shrinks to nullityNumber of cards on Armenia`s plastic market exceeded 2.5 million, but  the growth shrinks to nullity
Yerevan will host first international conference dedicated to  corporate governance issues under slogan Yerevan will host first international conference dedicated to  corporate governance issues under slogan "Integration, Trust,  Investments"
Pashinyan: There is no need to be afraid of an increase in public  debtPashinyan: There is no need to be afraid of an increase in public  debt
Russia and China hold first two positions in export and import in  Armenia`s foreign trade turnover Russia and China hold first two positions in export and import in  Armenia`s foreign trade turnover 
Former Prime Minister: If the economic Former Prime Minister: If the economic "miracles" of the government  are continued, then in a couple of years, in terms of GDP growth,  Armenia will be in the last ranks of the CIS countries
Safe online shopping. A few tipsSafe online shopping. A few tips
Ardshinbank: Visa Direct transfers with more advantageous termsArdshinbank: Visa Direct transfers with more advantageous terms
Armenia`s foreign trade turnover with EU countries has grownArmenia`s foreign trade turnover with EU countries has grown
First floating solar power plant to be built in ArmeniaFirst floating solar power plant to be built in Armenia
Interview with Huib-Jan de RuijterInterview with Huib-Jan de Ruijter
Armenia`s foreign trade turnover with the EAEU countries is in  declineArmenia`s foreign trade turnover with the EAEU countries is in  decline
Head of the Fund: Electricity tariff may be loweredHead of the Fund: Electricity tariff may be lowered
Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021
Natural population growth in Armenia decreased by 17% in the first  quarter of 2021Natural population growth in Armenia decreased by 17% in the first  quarter of 2021
In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%
Armenia considers the possibility of extending the ban on the import  and sale of goods of Turkish originArmenia considers the possibility of extending the ban on the import  and sale of goods of Turkish origin
Acting Minister of Economy: It`s time to make a decision on Amulsar  Acting Minister of Economy: It`s time to make a decision on Amulsar  
Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021
Lavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidlyLavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidly
In Q1 services in a number of areas remained on the rise, but  significantly slowed down the rateIn Q1 services in a number of areas remained on the rise, but  significantly slowed down the rate
Armenia`s alcohol industry recovers from coronavirus crisis in a yearArmenia`s alcohol industry recovers from coronavirus crisis in a year
Dominant telecommunications sector registers growth in Armenia`s  communications sectorDominant telecommunications sector registers growth in Armenia`s  communications sector
Historical records: Pashinyan spoke about the process of  economic recovery in ArmeniaHistorical records: Pashinyan spoke about the process of  economic recovery in Armenia
Passenger traffic in Armenia deepens into recession amid accelerated  growth in freight trafficPassenger traffic in Armenia deepens into recession amid accelerated  growth in freight traffic
Economy Minister insists: Armenia will reach double-digit economic  growth by the end of the yearEconomy Minister insists: Armenia will reach double-digit economic  growth by the end of the year
Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%
In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1
Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% 
Armenian economy tries to growArmenian economy tries to grow
Electricity generation in Armenia slowed down y-o-y growth rate in Q1Electricity generation in Armenia slowed down y-o-y growth rate in Q1
Armenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annumArmenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annum
Central Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflowCentral Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflow
The art of interpretation: 50% is also a result. The art of interpretation: 50% is also a result. "Prosperous Armenia"  indulges in populism, insisting that writing off debt on loans is  justified
Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021
Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021
The regulator is confident that it will be possible to return to the  inflation target next yearThe regulator is confident that it will be possible to return to the  inflation target next year
Central Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditionsCentral Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditions
Armenian lawmaker promises that cross-border VAT payments will be  canceledArmenian lawmaker promises that cross-border VAT payments will be  canceled
Iranian official: Armenia is a window to international marketsIranian official: Armenia is a window to international markets
Central Bank of Armenia raised refinancing rate from 5.5% to 6%Central Bank of Armenia raised refinancing rate from 5.5% to 6%
ARMENAL prepares for ASI certificationARMENAL prepares for ASI certification
IMF gives forecast of Armenia`s key indicators for 2021 - 2022IMF gives forecast of Armenia`s key indicators for 2021 - 2022
Land continues to be the most attractive asset in ArmeniaLand continues to be the most attractive asset in Armenia
In cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone numberIn cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone number
Read more


Exchange rates
17.05.2021
RUB7.060.00
USD521.91-0.57
EUR634.431.76
GBP736.101.49
CAD431.050.67
JPY47.790.01
CNY81.160.19
CHF579.451.49