The Armenian government dismissed on Wednesday critics' renewed skepticism about its ability to meet key budgetary targets this year, saying that that tax collection in the country is proceeding according to plan.
In a bid to dispel those doubts, the Ministry of Finance reported a more than 7 percent increase in taxes, social security payments and other duties collected in the first seven months of this year. It portrayed this and other fiscal data as a clear indication that "the budget is being executed in a smooth manner."
The government's 2012 budget calls for a total tax revenue of 874.4 billion drams ($2.1 billion), up by 101 billion drams from the 2011 level. This is essential for the success of government plans to increase expenditures by 4 percent and at the same time cut the budget deficit to a level equivalent to 3.1 percent of GDP.
Armenian News
No comments:
Post a Comment