According to the results of the first half of 2020, the state budget expenditures amounted to 765.6 billion drams, increasing by 20.3% as compared to the same period of the previous year. 1lurer.am learned about this from the report of the RA Ministry of Finance.
"Current expenditures amounted to 719.8 billion drams, an increase of 17.4% over the same period of the last year, which includes the implementation of anti-crisis programs and an increase in health expenditures", the report said.
Instead, however, tax revenues decreased in the first half of this year. The main reason is the restrictions imposed because of the coronavirus epidemic. "The economic crisis caused by the pandemic has had its impact on the RA state budget revenues, especially tax revenues. Thus, in April 2020, compared to the same month last year, tax revenues decreased by 9.1%, in May the rate of decline accelerated to 20.8%, and in June the decline was already 32.1%.
As a result, in the first half of 2020, the total state budget revenues amounted to 716.7 billion drams, decreasing by 5.5% compared to the same period of the last year, and taxes and duties amounted to 680.3 billion drams, decreasing by 4.6% compared to the same period of the last year, the ministry reports.
It is also noted in the report the measures to counter the economic downturn caused by the epidemic.
"In order to counteract the economic downturn, as well as to stimulate further recovery, the government will implement a programs of socio-economic assistance measures totaling 150 billion drams (2.3% of GDP) in 2020", the report said in part.
By Arman Galoyan
