YEREVAN. – A total of 8.5 percent from Armenia’s 2011 State Budget was allocated for economic ties, and this program was carried out by 79.9 percent, the 2011 State Budget report states. And this deviation is primarily conditioned on the low performance of the programs being implemented with foreign assistance.      

The great majority of this funding was allocated to agriculture (50.5%), transportation (36.2%), and energy (6.6%). 

To note, however, the spending on the energy sector was over performed by 63 percent, and this is conditioned on the high performance of the power station construction project being carried out with assistance from the Japanese government.   

But there is a considerable underperformance—a 61.4-percent execution, to be exact—in terms of transportation spending, and this, as per Deputy Finance Minister and Chief Treasurer Atom Janjughazyan, is mostly conditioned on the performance of the North-South Road Corridor construction project.