YEREVAN. - In Armenia the first quarter of 2011 saw 8.4 times less total deficit of State budget than foreseen, says the Ministry of Finance report.

The planned deficit was foreseen at AMD 56.2 billion (about $150 million) whereas the actual figure constituted AMD 6.7 billion (about $18 million).

According to the report, one of the major purposes for low deficit is explained by the fact that stipulated AMD 22.9 billion (about $62 million) have not been received from external sources as well as the available budget resources have been incompletely used.

In total the revenues of State budget of Armenia for over 5 months constituted AMD 325.7 billion  (about $880 million) compared to the expenses of AMD 332.4 billion (about $898 million).