YEREVAN. – In Jan.-Nov. 2013 the budget revenues exceeded AMD 967. 7 billion, while expenditures totaled around AMD 901.1 billion.

Due to an increase in tax revenues, the growth rate of total revenues accelerated to 15.1 % compared to 10.8 % last year. Budget surplus amounted to AMD 66.6 billion (or about $164 million).

More than 94% of state budget revenues were generated through tax revenues and state fees.

As compared with mentioned period last year, tax revenues increased by 15.4%. Tax revenue growth was achieved at the expense of VAT and income tax.

The rate of budget expenditure growth has increased, amounting to 8.4% (AMD 69.5 billion).