YEREVAN. - According to the legislation of Armenia, Governmental agencies are allowed to create extra-budgetary accounts, which are used at their discretion. On these accounts they put the funds from fines and penalties, grants from other organizations or States, revenues from paid services.

According to the publication of Armenian Ministry of Finance, the overall revenues of Government agencies for the first 9 months of 2011 made AMD 16.6 billion (about $ 43.7 million). Among these, at least three state agencies have relatively large extra-budgetary accounts: the Police, State Revenue Committee and the State Cadastre Committee. Around 90 percent of off-budget accounts are accumulated with these structures.

Ironically, State Commission for Protection of Economic Competition has no extra-budgetary accounts, although the budget of the agency itself is one of the smallest and the amount of penalties has increased significantly.