Armenia's government budget revenue grows 6.6% to AMD 1 137.1 billion in 2014

01.04.2015 19:40
Armenia's government budget revenue grows 6.6% to AMD 1 137.1 billion in 2014

YEREVAN, April 1. /ARKA/. Armenia's government budget revenue less the money received in grants grew 6.6% to AMD 1 137.1 billion in 2014, Finance Minister Gagik Khachatryan said Monday while presenting his ministry's activity for 2014 to his fellow Cabinet ministers.

He was quoted by the government's press office as saying that the tax and budgetary policy in 2014, just as in 2013, was aimed at ensuring macroeconomic stability with a special emphasis put on economic growth.

Khachatryan said extra AMD 16 billion came to the government budget thanks to the measures taken in the third quarter and the crackdown on shady dealings.

In his words, 711 inspections found out skim money amounting to AMD 12.8 billion in 2014.
Detection of 346 illegal businesses brought another AMD 107.2 million to the government budget in 2014.

Khacahtryan said the budget spending was performed without problems as well.

The budget spending less the money received from the outside in grants grew 14% to AMD 1 168.9 billion in 2014.

As a result, the budget deficit narrowed from 1 percent of GDP in 2013 to 0.7 percent in 2014.
The minister said that a mid-term government spending program for 2015-2017 was outlined and approved.

«The monetary policy was aimed at softening monetary requirements, spurring expansion of aggregate demand and regaining slow inflation,» he said.

Prime Minister Hovik Abrahamyan stressed the importance of the steps the finance ministry is taking to develop tax and budgetary policy, improve business environment, reduce shadow economy and implement tax and customs reforms.

In the 2014 consolidated government budget, revenue was projected at AMD 1 trillion 135 billion, spending at 1 trillion 245 billion and deficit at AMD 110 billion or 2.3% of GDP. ($1 – AMD 471.13). --0--

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