YEREVAN. – The revenues for Armenia’s state budget constituted AMD 752.6 billion and the expenditures were AMD 751.1 billion in January-October 2012, Finance Ministry official Gayane Zargaryan informed Tuesday during a briefing with news reporters.  

In her words, the country’s tax revenue program is being conducted with better-than-expected results.  

As per Zargaryan, the state budget revenues have increased by 9.1 percent, as compared with the same tome period last year, and this became possible primarily on the account of growth  in tax revenues. 

The tax revenues amounted to AMD 603.7 billion, whose 49.6 percent was secured by the value added tax. The profit tax revenues grew by 13.8 percent as compared with the same tome period in the year past. The income tax revenues made up AMD 73.3 billion, thereby securing 12.1 percent of the total taxes and duties and surpassing last year’s indicator by 7.2 AMD billion. And the customs tax revenues constituted 6 percent of the total taxes and duties and exceeded the past year’s respective indicator by AMD 6.2 billion. 

To note, in line with the current exchange rate, US$ 1 is equivalent to approximately AMD 406.