YEREVAN. – The results of the first-five-month performance of Armenia’s 2013 State Budget were presented on Thursday.

From January to May, the budget revenues totaled about AMD 408.9 billion, whereas the expenditures were AMD 377.7 billion, Finance Ministry official Gayane Zargaryan informed during a press conference on Thursday.

As a result, about an AMD 31.2-billion surplus formed against the AMD 2.2-billion deficit envisioned for the first semester.  

Zargaryan noted that the state budget revenues recorded a 19.6-percent growth, as compared to the same period last year.  

The tax revenues and state fees to the state treasury constituted over AMD 389.4 billion; these revenues increased by 20.4 percent as compared with the same period in the year past. 

State budget expenditures likewise grew as compared to the same period last year; their overall increase made up 8.5 percent. 

To note, in line with the current exchange rate, US$ 1 is equivalent to approximately AMD 411.