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Bright Future Ahead? Armenian State Budget's First Quarter Shows Nothing to Worry About
The state budgetary revenues of the Republic of Armenia for the first quarter of 2014 comprised more than 239.9 billion AMD, while the budgetary expenses were around 233.7 billion AMD, which, as reported by the Ministry of Finance of the Republic of Armenia, met the Armenian government's first quarter performance targets by 99.7% and 85.8%, respectively.
Compared to the first quarter of 2013, state budgetary revenues rose by 3.7%, or around 8.7 billion AMD. Of the budgetary revenues, around 223.9 billion AMD were tax revenues and state duties (93.3% of all state budgetary revenues). Compared to the same period in 2013, this budget line (tax revenues and state duties) increased by 1.7%, or 3.8 billion AMD.
Compared to the first quarter of 2013, state budgetary expenses for the same period in 2014 rose by 13.4%, or around 27.5 billion AMD.
The state budget in the first quarter of 2014 performed at a surplus of around 6.3 billion AMD — opposite the deficit of 31.7 billion AMD provided for by the adjusted program of the first quarter. The first quarter program provided to use 63.1 billion AMD of the cash assets formed in the deficit's internal sources, but because of the higher performance of budgetary revenues compared to expenditures, only 28.9 billion AMD was used
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