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Armenia Posts H1 Budget Deficit 1.6% Of Spending

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  • Armenia Posts H1 Budget Deficit 1.6% Of Spending

    ARMENIA POSTS H1 BUDGET DEFICIT 1.6% OF SPENDING

    Interfax
    July 28, 2011
    Russia

    YEREVAN. July 28

    Armenia exited the first half with a budget deficit of 6.6 billion
    dram, or 1.6% of spending.

    The country's senior treasurer, Deputy Finance Minister Atom
    Dzhandzhugazyan said at a government meeting Thursday that budget
    revenues for January-June came to around 399.3 billion dram (99.3%
    of plan) and spending to 405.8 billion dram (88.5% of plan). The
    budget plan for the half had the deficit at 56.3 billion dram.

    Dzhandzhugazyan said the incomplete fulfillment of the revenue plan
    was associated with the untimely receipt of foreign financing. The
    government had in the first half been looking to receive grants
    amounting to 7 billion dram, but only received 2.5 billion.

    Armenia Prime Minister Tigran Sarkisyan said during the meeting that
    the incomplete fulfillment of the spending part of the budget (by
    40 billion dram) was prompted by structural reorganization within
    the government.

    "We always have problems with the spending part of the budget, in
    that they are not implemented fully. And the first half of 2011 was
    no exception," Sarkisyan said.

    Among those structural changes, he mentioned ordering the activities
    of offices in the realization of various programs, reducing their
    number, and merging a series of state non-commercial organizations.

    "As a result, in the first half we have prolonged spending that we
    will do in the second half," Sarkisyan said.

    Despite the under-fulfillment of the revenue and spending plan, that
    for tax and customs collections for the budget was 0.003% over-met
    at 314.8 billion dram, Dzhandzhugazyan said.

    The official exchange rate for July 28: 364.42 dram/$1.

    Cf Subject: Armenia Posts H1 Budget Deficit 1.6% Of Spending

    ARMENIA POSTS H1 BUDGET DEFICIT 1.6% OF SPENDING

    Interfax July 28, 2011 Russia

    YEREVAN. July 28

    Armenia exited the first half with a budget deficit of 6.6 billion
    dram, or 1.6% of spending.

    The country's senior treasurer, Deputy Finance Minister Atom
    Dzhandzhugazyan said at a government meeting Thursday that budget
    revenues for January-June came to around 399.3 billion dram (99.3%
    of plan) and spending to 405.8 billion dram (88.5% of plan). The
    budget plan for the half had the deficit at 56.3 billion dram.

    Dzhandzhugazyan said the incomplete fulfillment of the revenue plan
    was associated with the untimely receipt of foreign financing. The
    government had in the first half been looking to receive grants
    amounting to 7 billion dram, but only received 2.5 billion.

    Armenia Prime Minister Tigran Sarkisyan said during the meeting that
    the incomplete fulfillment of the spending part of the budget (by
    40 billion dram) was prompted by structural reorganization within
    the government.

    "We always have problems with the spending part of the budget, in
    that they are not implemented fully. And the first half of 2011 was
    no exception," Sarkisyan said.

    Among those structural changes, he mentioned ordering the activities
    of offices in the realization of various programs, reducing their
    number, and merging a series of state non-commercial organizations.

    "As a result, in the first half we have prolonged spending that we
    will do in the second half," Sarkisyan said.

    Despite the under-fulfillment of the revenue and spending plan, that
    for tax and customs collections for the budget was 0.003% over-met
    at 314.8 billion dram, Dzhandzhugazyan said.

    The official exchange rate for July 28: 364.42 dram/$1.

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