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Armenian Parliament Approves Annual Report On Implementation Of 2008

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  • Armenian Parliament Approves Annual Report On Implementation Of 2008

    ARMENIAN PARLIAMENT APPROVES ANNUAL REPORT ON IMPLEMENTATION OF 2008 STATE BUDGET

    Noyan Tapan
    June 9, 2009

    YEREVAN, JUNE 9, NOYAN TAPAN. The National Assembly of the RA on June 9
    approved the annual report on implementation of the 2008 state budget
    with 87 votes for and 3 votes against. Heritage faction's members
    present at the sitting voted against.

    By the report, the revenues of the 2008 state budget amounted to
    785.4bn drams, expenditures - 810.6bn drams, and the deficit of the
    budget made 25.2bn drams.

    The revenues and official transfers made 97.7% of the specified
    programmed index or 21.5% of GDP, while the expenditures made 94.2%
    or 22.2% of GDP.

    The underfulfilment was mainly conditioned by the insufficient
    receiving of envisaged funds from foreign sources. The deficit made
    up 0.7% of GDP instead of the programmed 2.1%.

    In 2008, under conditions of the global financial and economic crisis,
    6.8% growth was recorded in the Armenian economy, which was lower by
    3.2% than the programmed index. The target amount of tax revenues
    (including duties) of 621.1bn drams or 17% of GDP was ensured. The
    programmed level of inflation - 4+/-1.5% was maintained, with inflation
    being 5.2% at the end of the reporting period. As a result, in 2008
    GDP amounted to 3,650bn drams in market prices, while GDP per capita
    made 1 million 128 thousand 600 drams or 3,689 USD.
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