Armenian government accounts for better-than-projected indicators for 2017

22.01.2018 12:05
Armenian government accounts for better-than-projected indicators for 2017

YEREVAN, January 22. /ARKA/. On Friday, representatives of the Armenian finance ministry told Karen Karapetyan, prime minister, that the indicators of 2017 exceed the figures projected in the government budget, the government’s press office reports.

In their words, the budget revenue grew 5.6% in 2017, compared with the previous year, to AMD 1 trillion 237.2 billion, where tax and customs receipts totaled AMD 1 trillion 158.1 billion, exceeding the 2016 indicator by 7.3%.

The tax revenue/GDP ratio was recorded at 21.1%, and the refined tax/GDP ratio was reported at 20.8% with a 0.5% year-on-year improvement.

The budget total spending amounted to AMD 1 trillion 417.3 billion in 2017 showing a 2.2% growth, and current expenses shrank 1.2% and capital spending 13%.

The taught tax and budgetary policy pursued in the country narrowed the ratio of budget deficit to GDP from 5.5% in 2016 to 3.3% (AMD 180.2 billion) in 2017.

“We are accountable to the society, and it is possible to say referring to the budget confirmed by the law that we have moved beyond the planned indicators,” Karen Karapetyan declared.

In the government budget for 2017, revenue was projected at AMD 1 trillion 210 billion and the revenue-GDP ratio at 22.4%, where taxes were planned at AMD 1 trillion 135 billion. The budget spending was targeted at AMD 1 trillion 360 billion with 25.2% spending-GDP ratio and deficit at AMD 150 billion with a 2.8% deficit/GDP ratio. ($1 – AMD 481.96). -0---


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