Armenia’s state budget revenues increase in the first quarter

Armenia’s state budget revenues increased by 7.9% or over 19.9 billion AMD in the first quarter of 2017 compared to the same period of 2016. The increase is mainly linked with the increase of tax and other revenues.

94.5% of the state budget has been formed at the expense of tax revenues and state fees, over 4.7% at the expense of other revenues, 0.8% at the expense of official grants. In the first quarter of 2017, the state budget entries amounted 255.5 billion AMD tax revenues and state fees, exceeding the quarterly program by 4.2%.

Compared to the same period of 2016, the taxes and fees increased by 10.6% or over 24.5 billion AMD which is mainly related with increase of value added tax, environmental payments, income tax, excise tax and customs duty entries.