Thursday, July 2 2020 15:57
Alexandr Avanesov

SRC: The situation with the collection of taxes to the state budget  of Armenia causes some concern

SRC: The situation with the collection of taxes to the state budget  of Armenia causes some concern

ArmInfo.The situation with the  collection of taxes to the state budget of Armenia causes some  concern. On July 2, after a government meeting, Chairman of the State  Revenue Committee of the Republic of Armenia, Eduard Hovhannisyan,  told reporters.

According to him, the concern is due to the well-known situation  related to the outbreak of the coronavirus, the spread of which led  to a decline in the total turnover. In the near future, the results  of the implementation of the provisions of the state budget of the  second quarter of 2020 (including June and July inclusive), which  will be presented to the public, will be summarized. In order to  mitigate the consequences of COVID-19, the government has developed  and implemented numerous assistance mechanisms for business entities.  The 20th and 21st programs to neutralize the economic consequences  from a new type of coronavirus are under implementation, the 22nd  program is under development. All these programs are social and  economic in nature. No other assistance measures are currently being  discussed.

When asked about the rumors that after the resignation of the  former  head of the SRC, many employees announced their intention to leave  the departments, Eduard Hovhannisyan replied that there was no such  development of the situation in the Committee. "We return to the  personnel policy from time to time, evaluating everyone's work, their  quality and effectiveness. No personalized decision is made," said  the head of the SRC

To note, according to the program, the revenues of the state budget  of Armenia in 2020 should be 1.7 trillion drams, expenditures - 1.9  trillion drams. Income and expenses will grow by 13% and 14%,  respectively, compared with the budget for 2019. Amid 4.9% of GDP  growth, nominal GDP will grow by approximately 529 billion drams to  7.095,1 billion drams. The budget revenue with 1.698 trillion drams  fixed in the draft budget for the current year decreased to about  1.695 trillion drams or 23.9% of GDP (1.567 trillion or 23.9% of GDP  this year and actual 1.341 trillion or 22.3% of GDP for 2018 year).  Costs decreased from the previously projected 1.880 trillion drams to  1.855 trillion drams.

As a result, the deficit indicator also decreased - to about 160  billion drams and will amount to 2.3% of GDP, against the previously  forecasted 182.6 billion drams (2.6% of GDP). The deficit will be  financed in the amount of 210.5 billion drams from domestic sources  and another 50.5 billion drams are expected to be attracted from  external sources. 12-month inflation is forecasted to be within 4% (+  / _ 1.5%). Tax revenues of the state budget (tax revenues and state  duty) in 2020 are projected at 1 trillion 602 billion 252 million 712  thousand drams or 22.6% of GDP, compared to the early 1 trillion 602  billion 130 million) and adjusted for the current year 1 trillion 464  billion drams or 22.3% of GDP (and the actual 1 trillion 258 billion  drams or 21% of GDP for 2018). In 2020, according to the adjusted  draft budget, Armenia expects to receive from foreign states and  international organizations official grants in the amount of 35  billion 024 million drams or 0.5% of GDP against 33.8 billion drams  previously allocated, 39.5 billion drams and AMD 11.2 billion for  2019 and 2018, respectively.

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