Figures say it all
Armenia's annual revenue made up 603.9 billion drams and expenditures made up 718.8 billion drams in January-November 2009. They covered the completion of annual project indices by 67.3% and 80.2% respectively.
Compared to the same period last year, state revenues have reduced by 13.1% (91.4 billion drams). Taxes and fees have reduced by 17.7% (101.6 billion drams), official grants by 10.3% (367.8 million drams) and compulsory social security payments by 0.3% (296 million drams). In the same period, incomes have increased by 42.7% (10.9 billion drams).
In January-November 2009, the RA state budget had a nearly 114.9 billion dram deficit instead of the foreseen 1.4 billion dram surplus. Let us mention that the state budget had a 22.7 billion dram increase in the same period last year.
In the past months, foreign donors have provided loans worth 298.7 billion drams of which 185.1 billion drams was provided by the government of the Russian Federation, 57.4 billion drams by the International Monetary Fund, 24.8 billion drams by the International Development Association and 31.4 billion drams by the Asian Development Bank.
The government spent 5.6 billion drams on foreign debts of which 4 billion was granted to redeem debts for the projects being implemented with support from the World Bank; 839.4 million drams was granted to redeem the debt to Japan for the energetic communication and distribution system; 524.7 million drams to redeem U.S. trade loans; 110.6 million drams to redeem the debt for projects being implemented with support from the International Fund for Agricultural Development; 30.1 million drams to redeem the debt of France for the project for dry maintenance of fuel of the Nuclear Energy Station and nearly 91.3 million drams to redeem the debt of the Federal Republic of Germany for the project aimed at restoring High-tension Network Systems.
