Armenian budget revenues rise by 11.7% in 2010 to 755.8 billion drams
Armenia’s budget revenues rose by 11.7% (or 79.4 billion Drams) in 2010 to a total of 755.8 billion Drams, the finance ministry said Monday. It said tax proceeds grew 11.9% or 74.2 billion Drams, proceeds from customs dues and mandatory social payments grew 17% or 7.3 billion Drams, while proceeds from official grants reduced by 25.5% or 2.1 billion Drams.According to the finance ministry data, taxes, customs dues and mandatory payments accounted for 95% of all revenues. Also over 19.3 billion Drams revenues were generated by off-budget funds of pubic organizations.
More specifically, 594.1 billion Drams were collected as taxes, 99.8% of all projected tax proceeds. Their volume rose by 13.7% year-on-year or by 71.7 billion Drams. The growth was secured largely by increase in the volume of collected VAT and income taxes.
According to the ministry data, 50.8% of taxes or 301.7 billion Drams were collected as VAT, by 18.7% or 47.6 billion Drams more than in 2009. Some 8.1% of taxes or 48.1 billion Drams were collected as excise taxes. Some 13.1% of taxes or 77.8 billion Drams were collected as profit taxes and 12.4% or 73.9 billion Drams as income taxes
Also 29.4 billion Drams were collected as customs dues, 20 billion Drams as state dues, 22 billion Drams as fixed taxes and 9.1 billion Drams as nature protection taxes.
Some 105.3 billion Drams were collected as mandatory payments, as much as projected for the full year. The ministry said also 6.1 billion Drams were received last year as official grants, 52.6% of what the government had planned to receive.
The 2010 budget called for 742 billion Drams in revenues and 935.5 billion Drams in spending. The projected deficit was 193.4 billion Drams.($1 – 363,02 Drams). -0-
