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YEREVAN. – The economic situation in Armenia is causing problems in terms of budget collection, Haykakan Zhamanak daily reported.

“According to our information, the budget revenues have underperformed by about 8 billion drams [approx. $16,545,400] in the first two months of this year. 

“The State Revenues Committee [SRC] needs to collect 5 percent more taxes than last year to fulfill this year’s budget; but this year they [, the budget revenues,] are less than last year.

“The SRC hopes that they will be able to compensate for the drop in the budget revenues by the money to be received from the EEU [i.e. the Eurasian Economic Union] joint customs account. But the whole problem is that the volume of imports to the EEU countries has drastically reduced, which means that the money to be transferred to Armenia also will reduce,” Haykakan Zhamanak wrote.

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