In 2009 budget deficit made 7.4% of GDP, the 2009 activity report by RA Ministry of Finance reads. Under the report, budget deficit is conditioned by impact of global crisis, income drop and maintenance of budgeted expenditures’ level.

Budget revenue reduced by 16.4% as compared with 2008, making AMD 674.4 bn.

Tax revenues and duties totaled AMD 522.4 bn, falling by 15.9% compared to 2008.

Under RA Finance Ministry estimate, overall budget expenditures in 2009, not accounting for foreign loans and grants as well as real estate cadastre committee expenditures, will reach AMD 824.7 bn instead of estimated AMD 897.4 bn.

Financial execution of the budget will reach 91.8%.

A.G.