Deputy Minister: In 1st quarter of 2016 Armenia state budget revenues grew by 1.6%

In the first half of 2016, the state budget revenues of Armenia grew by 1.6 percent, reaching 547 bln AMD.

Deputy Minister of Finance and Chief Treasurer of Armenia Atom Janjughazyan stated the aforementioned, introducing in the parliament the report on the republic’s state budget execution for the first quarter of 2016.

The revenues from taxes amounted to 512.6 bln, growing by 2.2 percent. The expenses made up 631.8 bln AMD, rising by 6.2 percent. Thus, the budget was executed with a 84.8 AMD deficit. Of all the taxes, VAT has the greatest specific weight, which is 177.4 bln AMD or 32.4 percent of all the revenues.

The collected income tax amounted to 156 bln AMD or 28.4 percent of all the revenues.

The collected profit tax made up 71.2 bln AMD or 13.0 percent of all the revenues.

The customs duties and excise tax constituted 25.2 and 25.1 bln AMD respectively.

The payments of sales tax for small and medium enterprises amounted to 6.8 bln AMD.

The state duty payments amounted to 15.4 bln AMD.

The 631.8 bln AMD expenses were executed by 92 percent. The expenses for the salaries of budget workers grew by 4.2 percent, making up 60.5 bln AMD or 9.6 percent of all the expenses.