Armenian 2013 budget deficit 0.6% of GDP
YEREVAN. Feb 4 (Interfax) - Armenia ended 2013 with a budget deficit of 16.4 billion dram, or 0.6% of GDP, the volume of which is projected at upwards of $6 billion.
The Armenia Finance Ministry's press service told Interfax that last year's budget revenues amounted to 1.067 trillion dram, up 13.5% from 2012, and expenditures to 1.083 trillion dram, up 8.2%. The deficit for the year contracted 73.4% from the year before.
However, Armenia's National Statistics Service released yesterday preliminary data on 2013 budget implementation, according to which the country had a 2013 budget surplus of 41.5 billion dram, with revenues of 1.067 trillion dram and spending of 1.025 trillion dram. The Finance Ministry told Interfax that the variance is due to difference calculation methods, factoring in foreign credits and grants and their utilization.
Armenia's 2013 budget deficit was planned at 119.7 billion drams, or 2.6% of GDP. Finance Minister David Sargsian said that, per the preliminary forecasts, GDP last year would grow 3.5%, and that the budget deficit would be 1.6%-1.8% of GDP. Nominal GDP volume will be officially reported next month.
The official exchange rate for February 4: 408.75 dram/$1.