YEREVAN, August 4. /ARKA/. Armenia’s government budget revenue grew 0.9% in Jan-June 2016, compared with the same period a year earlier, to more than AMD 539.5 billion, the National Statistical Service of Armenia reported on Thursday.

Taxes and state duties totaled over AMD 512.6 billion in Jan-June 2016 after growing 2.2%, compared with the same period a year before.

VAT receipts in the government budget amounted to AMD 177.4 billion in Jan-June 2016 showing a 7.9 percent year-on-year decline, while excise tax receipts in the budget grew 19.1% to AMD 25 billion, profit tax 19.1% to AMD 71.1 billion and income tax 7.8% to AMD 155.6 billion.

Other budget receipts amounted to AMD 24.5 billion in Jan-June against AMD 32.8 billion in Jan-June 2015.

Official grants brought AMD 2.3 billion to the government budget in Jan-June 2016 against AMD 568.1 million at the same period a year before.

The government budget spending grew 5.3% in Jan-June 2016, compared with the same period of the previous year, to AMD 597.2 billion.

Current budget spending amounted to AMD 581.5 billion (6% growth), of which AMD 196.3 billion or 33.8 percent was spent on social benefits and pensions (3.2% growth), AMD 76.2 billion on grants (13.5% growth), AMD 0.8 billion on salaries (3.2% growth), AMD 68.8 billion on commodity and services procurement (36.6% decline), AMD 44.5 billion on payment of interests (33.5% growth), AMD 54.2 billion as subsidies and AMD 80.6 billion as other expenses (8% growth).

Activities with non-financial assets totaled AMD 15 713.4 million.

As a result, the government budget deficit stood at AMD 57.7 billion in Jan-June 2016 against AMD 32.2 billion in Jan-June 2015.

In the 2016 government budget, spending is projected at AMD 1 trillion 373.7 billion, revenue at AMD 1 trillion 183 billion and deficit at AMD 197 billion or 3.5% of GDP. ($1 – AMD 476.14). ---0---