National Accounts
Public Finance
BoP and Foreign Trade
Prices and Rates
Monetary Survey

PUBLIC FINANCE  

In this subsection, data on main indicators of budget system and public debt of Armenia are presented.

Data source: National Statistical Service of the Republic of Armenia and Ministry of Finance of the Republic of Armenia.

Calculations and data processing: Economic Development and Research Center (EDRC)

Data were updated on May 06, 2017.

Note: The 2017 budget data refers to programmed/projected indicators according to 2017 Annual Budget Law. 


  

Table 1. Main Indicators of State and Consolidated Budgets, bln AMD
Table 2. State Budget Revenues, bln AMD
Table 3. State Budget Expenditures by Functional Classification, bln AMD
Table 4. State Budget Expenditures by Economic Classification, bln AMD
Table 5. Main Indicators of State and Consolidated Budgets, in % to GDP
Table 6. State Budget Revenues, in % to GDP
Table 7. State Budget Expenditures by Functional Classification, in % to GDP
Table 8. State Budget Expenditures by Economic Classification, in % to GDP
Table 9. Public Debt of Armenia
Table 10. External public debt of Armenia, breakdown per donors, mln USD 

 

Table 1. Main Indicators of State and Consolidated Budgets, bln AMD

 

1991

1995

2000

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

  Revenues, total 

   State Budget

4.6

94.5

172.1

785.4

690.0

780.4

880.9

946.2

1,071.4

1,144.8

1,167.7

1,171.1

1,210.0

   Consolidated Budget

-

-

204.8

802.9

711.7

804.3

906.1

975.1

1,101.7

1,178.2

1,201.7

-

1,244.3

  Expenditures, total 

   State Budget

4.4

125.6

222.9

810.6

929.1

954.3

986.5

1,006.1

1,142.9

1,235.1

1,409.0

1,449.1

1,360.1

   Consolidated Budget

-

-

254.4

829.5

947.6

975.9

1,013.5

1,036.9

1,170.6

1,268.8

1,444.0

-

1,394.4

 Deficit (-)/Surplus (+) 

   State Budget

0.3

-31.1

-50.8

-25.2

-239.1

-173.9

-105.7

-59.9

-71.5

-90.3

-241.3

-278.0

-150.1

   Consolidated Budget

-

-

-49.7

-26.6

-235.9

-171.6

-107.4

-61.8

-68.8

-90.6

-242.3

-

-150.1

Note: Data for 1991 are in bln roubles. State budget data for 1991 and 1995 include Municipal budgets data. 
Municipal budgets have been separated from the State budget in 1997.

 

Table 2. State Budget Revenues, bln AMD

 

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

 State budget revenues, total

785.4

690

780.4

880.9

946.2

1,071.4

1,144.8

1,167.7

1,171.1

1,210.0

 1. Taxes, duties and compulsory social payments

726.1

625.3

699.4

777.4

878.4

1,000.9

1064.1

1,067.9

1,079.7

1,135.0

  1.1 Tax revenues

598.8

503.3

574.1

631.6

725.5

956.0

1012.6

1015.9

1033.0

1090.4

     Value added tax

318.3

254.2

301.7

328.5

369.7

401.9

440.4

423.9

391.1

354.6

     Excise tax

45.9

42.8

48.1

39.4

49.3

52.1

50.6

49.0

59.7

63.6

     Income tax

53.7

60.2

73.9

81.2

91.7

5.8

0.2

-0.2

-

-

     Profit tax

86.2

80.8

77.8

97.8

118.7

124.6

103.6

103.7

127.2

134.2

     Property tax

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

     Land tax

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

     Customs duty

37.3

25.1

29.4

36.3

43.0

46.3

48.4

61.5

55.0

53.6

     Fixes payments

20.3

23.8

22.0

20.7

14.9

11.0

4.9

3.1

3.2

3.3

     Turnover tax

-

-

-

-

-

13.4

15.6

11.9

15.3

24.3

     Income tax

-

-

-

-

-

251.1

289.2

311.7

332.7

347.2

     Other tax incomes

37.0

16.4

21.1

27.6

38.3

49.8

59.9

51.4

48.8

109.6

  1.2 State duties

22.3

19.0

20.0

22.4

23.8

27.3

39.3

32.4

33.3

30.3

  1.3 Social payments

105.0

102.9

105.3

123.4

129.1

17.6

12.2

19.6

13.4

14.3

     Compulsory social insurance contributions

105.0

102.9

105.3

123.4

129.1

17.6

12.2

8.7

-

-

     Targeted social payments

-

-

-

-

-

-

-

10.9

13.4

14.3

 2. Official transfers

15.0

21.7

30.6

59.4

18.7

13.3

17.3

29.9

31.4

30.9

 3. Other incomes

44.3

43.0

50.4

44.0

49.1

57.2

63.4

70.0

60.0

44.1

 

Table 3. State Budget Expenditures by Functional Classification, bln AMD

 

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

 State budget expenditures, total

810.6

929.1

954.3

986.5

1006.1

1142.9

1235.1

1409.0

1449.1

1360.1

 01 General public services

104.8

113.0

143.3

154.1

160.5

188.1

217.3

281.4

292.1

265.0

 02 Defense

121.2

130.2

147.6

145.5

152.8

182.0

190.4

198.5

225.9

209.8

 03 Maintenance of public order and security and judicial activities.

61.7

69.5

67.4

72.5

76.7

91.4

104.8

122.0

120.3

102.4

 04 Economic relations

89.4

133.8

112.5

84.0

71.1

128.3

83.3

109.8

131.1

93.6

 05 Preservation of the environment

3.0

3.9

4.9

6.6

7.0

4.6

4.7

5.7

4.5

10.0

 06 Housing and communal facilities

14.0

21.1

42.8

43.8

14.3

21.7

31.3

39.2

25.6

14.3

 07 Health

50.0

56.2

56.1

63.3

64.5

64.4

76.6

86.1

88.6

85.9

 08 Culture, sport and religion

16.0

16.3

16.1

17.6

22.8

18.6

21.4

30.4

26.6

26.3

 09 Education

103.5

107.5

97.8

106.1

102.8

103.1

115.8

122.3

122.4

127.6

 10 Social security

212.6

243.6

244.2

256.2

291.7

297.4

342.5

383.7

396.8

408.9

 11 Expenditures non classified under the main groups

34.3

33.9

21.6

36.8

41.9

43.2

47.0

29.9

15.1

16.3

 

Table 4. State Budget Expenditures by Economic Classification, bln AMD

 

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

 State budget expenditures, total

810.6

929.1

954.3

986.5

1006.1

1142.9

1235.1

1409.0

1449.1

1360.1

 1. Current expenditures

717.5

718.3

763.1

812.3

875.6

1015.4

1101.3

1238.9

1281.8

1261.5

  Wages

64.1

75.6

78.3

84.7

86.2

101.0

118.7

141.0

142.4

131.7

  Acquisition of goods and services

135.3

152.3

159.9

171.5

204.7

215.4

237.4

258.6

162.2

120.4

  Subsidies

87.7

19.0

17.8

19.8

21.1

25.0

28.3

32.9

120.8

116.4

  Interest payments

11.1

16.3

30.4

35.5

40.7

46.7

61.6

74.1

98.3

120.3

  Transfers

83.2

80.1

94.4

99.4

112.8

122.8

139.4

152.9

158.1

120.7

  Expenditures of social pentions and allowances

207.9

240.2

244.0

256.4

288.5

294.9

347.7

391.0

405.1

417.3

  Other expenditures

128.2

134.9

138.3

145.1

121.6

209.5

168.2

188.4

195.0

234.7

 2. Transactions with non financial assets

93.1

210.8

191.2

174.2

130.5

127.5

133.7

170.1

167.3

98.6

 

Table 5. Main Indicators of State and Consolidated Budgets, in % to GDP

 

1991

1995

2000

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

  Revenues, total 

   State Budget

29.0

18.0

16.7

22.0

22.0

22.6

23.3

22.2

23.5

23.7

23.2

23.1

22.4

   Consolidated Budget

-

-

19.9

22.5

22.7

23.2

24.0

22.9

24.2

24.4

23.8

-

23.0

  Expenditures, total

   State Budget

27.4

24.0

21.6

22.7

29.6

27.6

26.1

23.6

25.1

25.6

27.9

28.5

25.2

   Consolidated Budget

-

-

24.7

23.2

30.2

28.2

26.8

24.3

25.7

26.3

28.6

-

25.8

 Deficit (-)/Surplus (+) 

   State Budget

1.6

-6.0

-4.9

-0.7

-7.6

-5.0

-2.8

-1.4

-1.6

-1.9

-4.8

-5.5

-2.8

   Consolidated Budget

-

-

-4.8

-0.7

-7.5

-5.0

-2.8

-1.4

-1.5

-1.9

-4.8

-

-2.8

Note: Data for 1991 are in bln roubles. State budget data for 1991 and 1995 include Municipal budgets data. 
Municipal budgets have been separated from the State budget in 1997.

 

Table 6. State Budget Revenues, in % to GDP

 

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

 State budget revenues, total

22.0

22.0

22.6

23.3

22.2

23.5

23.7

23.2

23.1

22.4

 1. Taxes, duties and compulsory social payments

20.3

19.9

20.2

20.6

20.6

22.0

22.0

21.2

21.3

21.0

  1.1 Tax revenues

16.8

16.0

16.6

16.7

17.0

20.8

20.8

20.1

20.3

20.2

     Value added tax

8.9

8.1

8.7

8.7

8.7

8.8

9.1

8.4

7.7

6.6

     Excise tax

1.3

1.4

1.4

1.0

1.2

1.1

1.0

1.0

1.2

1.2

     Income tax

1.5

1.9

2.1

2.1

2.1

0.1

0.0

0.0

0.0

0.0

     Profit tax

2.4

2.6

2.2

2.6

2.8

2.7

2.1

2.1

2.5

2.5

     Property tax

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

     Land tax

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

     Customs duty

1.0

0.8

0.8

1.0

1.0

1.0

1.0

1.2

1.1

1.0

     Fixes payments

0.6

0.8

0.6

0.5

0.3

0.2

0.1

0.1

0.1

0.1

     Turnover tax

-

-

-

-

-

0.3

0.3

0.2

0.3

0.4

     Income tax

-

-

-

-

-

5.5

6.0

6.2

6.5

6.4

     Other tax incomes

1.0

0.5

0.6

0.7

0.9

1.1

1.2

1.0

1.0

2.0

  1.2 State duties

0.6

0.6

0.6

0.6

0.6

0.6

0.8

0.6

0.7

0.6

  1.3 Social payments

2.9

3.3

3.0

3.3

3.0

0.4

0.3

0.4

0.3

0.3

     Compulsory social insurance contributions

2.9

3.3

3.0

3.3

3.0

0.4

0.3

0.2

0.0

0.0

     Targeted social payments

-

-

-

-

-

-

-

0.2

0.3

0.3

 2. Official transfers

0.4

0.7

0.9

1.6

0.4

0.3

0.4

0.6

0.6

0.6

 3. Other incomes

1.2

1.4

1.5

1.2

1.2

1.3

1.3

1.4

1.2

0.8

                                                                                                                       

 Table 7. State Budget Expenditures by Functional Classification, in % to GDP

 

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

 State budget expenditures, total

22.7

29.6

27.6

26.1

23.6

25.1

25.6

27.9

28.5

25.2

 01 General public services

2.9

3.6

4.1

4.1

3.8

4.1

4.5

5.6

5.8

4.9

 02 Defense

3.4

4.1

4.3

3.9

3.6

4.0

3.9

3.9

4.4

3.9

 03 Maintenance of public order and security and judicial activities.

1.7

2.2

1.9

1.9

1.8

4.0

3.9

2.4

2.4

1.9

 04 Economic relations

2.5

4.3

3.2

2.2

1.7

2.8

1.7

2.2

2.6

1.7

 05 Preservation of the environment

0.1

0.1

0.1

0.2

0.2

0.1

0.1

0.1

0.1

0.2

 06 Housing and communal facilities

0.4

0.7

1.2

1.2

0.3

0.5

0.6

0.8

0.5

0.3

 07 Health

1.4

1.8

1.6

1.7

1.5

1.4

1.6

1.7

1.7

1.6

 08 Culture, sport and religion

0.4

0.5

0.5

0.5

0.5

0.4

0.4

0.6

0.5

0.5

 09 Education

2.9

3.4

2.8

2.8

2.4

2.3

2.4

2.4

2.4

2.4

 10 Social security

6.0

7.8

7.1

6.8

6.8

6.5

7.1

7.6

7.8

7.6

 11 Expenditures non classified under the main groups

1.0

1.1

0.6

1.0

1.0

0.9

1.0

0.6

0.3

0.3

 

Table 8. State Budget Expenditures by Economic Classification, in % to GDP

 

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

 State budget expenditures, total

22.7

29.6

27.6

26.1

23.6

25.1

25.6

27.9

28.5

25.2

 1. Current expenditures

20.1

22.9

22.1

21.5

20.5

22.3

22.8

24.6

25.2

23.3

  Wages

1.8

2.4

2.2

2.3

2.0

2.2

2.5

2.8

2.8

2.4

  Acquisition of goods and services

3.8

4.8

4.6

4.5

4.8

4.7

4.9

5.1

3.2

2.2

  Subsidies

2.5

0.6

0.5

0.5

0.5

0.6

0.6

0.7

2.4

2.2

  Interest payments

0.3

0.5

0.9

0.9

1.0

1.0

1.3

1.5

1.9

2.2

  Transfers

2.3

2.5

2.7

2.6

2.6

2.7

2.9

3.0

3.1

2.2

  Expenditures of social pentions and allowances

5.8

7.6

7.1

6.8

6.8

6.5

7.2

7.8

8.0

7.7

  Other expenditures

3.6

4.3

4.0

3.8

2.9

4.6

3.5

3.7

3.8

4.3

 2. Transactions with non financial assets

2.6

6.7

5.5

4.6

3.1

2.8

2.8

3.4

3.3

1.8

 

Table 9. Public Debt of Armenia

 

1995

2000

2005

2008

2010

2011

2012

2013

2014

2015

2016

                             mln USD

 External debt

-

859.5

1099.2

1577.1

3300.5

3569.3

3739.1

3899.1

3785.2

4316.2

4805.6

   Debt of Government

-

651.0

896.7

1396.6

2737.9

2952.0

3144.5

3390.8

3345.3

3839.9

4300.9

   Debt of Central Bank

-

175.5

196.2

176.0

562.6

617.3

594.6

508.3

440.0

476.3

504.7

   Credits Guaranteed by Government and CB

-

19.1

3.1

0.0

-

-

-

-

-

-

-

   Special Credit Programs

-

13.9

3.3

4.4

-

-

-

-

-

-

-

 Domestic debt

0.5

54.0

114.1

328.9

504.6

565.4

633.0

689.4

656.3

761.5

1136.5

                             bln AMD

 External debt

-

474.6

494.9

483.7

1199.5

1376.9

1509.0

1581.6

1797.9

2088.0

2325.6

   Debt of Government

-

359.5

403.7

428.4

995.1

1138.8

1269.0

1375.4

1588.9

1857.5

2081.4

   Debt of Central Bank

-

96.9

88.3

54

204.5

238.1

240.0

206.2

209.0

230.4

244.2

   Credits Guaranteed by Government and CB

-

10.6

1.4

0

-

-

-

-

-

-

-

   Special Credit Programs

-

7.7

1.5

1.4

-

-

-

-

-

-

-

 Domestic debt  

0.2

29.8

51.3

100.9

183.4

218.1

255.5

279.7

311.7

368.4

550.0

                   In dollar term, in % to GDP 

 External debt

-

45.0

22.4

13.5

35.6

35.2

35.2

35.1

32.6

40.9

45.5

   Debt of Government

-

34.1

18.3

12.0

29.6

29.1

29.6

30.5

28.8

36.4

40.7

   Debt of Central Bank

-

9.2

4.0

1.5

6.1

6.1

5.6

4.6

3.8

4.5

4.8

   Credits Guaranteed by Government and CB

-

1.0

0.1

0.0

-

-

-

-

-

-

-

   Special Credit Programs

-

0.7

0.1

0.0

-

-

-

-

-

-

-

 Domestic debt  

0.04

2.8

2.3

2.8

5.4

5.6

6.0

6.2

5.7

7.2

10.7

                  In dram term, in % to GDP 

 External debt

-

46.0

22.1

13.6

34.7

36.4

35.4

34.7

37.2

41.4

45.8

   Debt of Government

-

34.9

18.0

12.0

28.8

30.1

29.7

30.2

32.9

36.8

41.0

   Debt of Central Bank

-

9.4

3.9

1.5

5.9

6.3

5.6

4.5

4.3

4.6

4.8

   Credits Guaranteed by Government and CB

-

1.0

0.1

0.0

-

-

-

-

-

-

-

   Special Credit Programs

-

0.7

0.1

0.0

-

-

-

-

-

-

-

 Domestic debt  

0.0

2.9

2.3

2.8

5.3

5.8

6.0

6.1

6.5

7.3

10.8

 

Table 10. External public debt of Armenia, breakdown per donors, mln USD 

 

2000

2005

2008

2010

2011

2012

2013

2014

2015

2016

Total External Debt

859.5

1099.2

1577.1

3299.0

3569.3

3739.1

3899.1

3785.2

4317.3

4805.6

Multilateral creditors

661.3

982.9

1,234.7

2,253.7

2,475.4

2,638.9

2,637.0

2,604.6

2,880.0

3235.8

WB

397.5

750.9

1,019.1

1,265.5

1,336.9

1,470.2

1,584.9

1,609.2

1,650.6

1741.4

EBRD

48.5

14.8

0.0

10.0

13.7

14.3

25.8

21.3

18.9

20.5

IFAD

18.4

40.8

57.8

62.0

66.3

67.3

67.5

62.9

61.2

63.5

EU

21.4

-

-

-

33.6

85.7

89.7

79.0

71.0

68.8

IMF

175.5

176.4

134.8

740.8

827.5

776.1

584.8

442.1

414.3

412.0

OPEC

-

-

15.0

28.7

28.3

30.7

34.3

34.5

40.4

55.4

ADB

-

-

8.1

146.7

165.3

187.9

227.9

311.1

396.5

511.9

EIB

-

-

-

-

3.9

6.6

22.1

44.6

128.1

157.2

EADB

-

-

-

-

-

-

-

-

100.0

205.0

Bilateral Creditors

198.2

116.4

342.4

1,045.3

1,090.6

1,086.5

548.4

504.2

509.5

626.4

Russia

114.7

-

-

500.0

500.0

500.0

-

-

7.8

56.4

Germany

5.7

69.3

125.3

132.7

155.0

193.1

219.8

211.9

189.9

200.4

France

2.5

4.2

5.0

4.3

4.1

4.0

5.2

8.7

20.0

79.4

USA

57.7

41.3

37.2

33.1

31.1

29.3

27.5

25.3

23.5

21.8

Japan

-

1.6

174.9

374.4

397.2

355.9

290.8

252.6

241.5

239.4

Abu-Dhabi Foundation

-

-

-

0.9

3.1

4.2

5.1

5.7

6.4

6.6

ExIm Bank of China

-

-

-

-

-

-

-

-

20.4

22.4

Turkmenistan

12.8

-

-

-

-

-

-

-

-

-

Switzerlan

5.0

-

-

-

-

-

-

-

-

-

Borrowings from Commercial Banks

-

-

-

-

2.2

12.9

16.7

16.3

23.2

22.4

SBC Bank (Belgium)

-

-

-

-

2.2

4.2

5.7

5.8

5.3

4.7

Austria (Reiffeizen bank)

-

-

-

-

-

8.7

11

9.7

8.7

8.5

Austria (Erste bank)

-

-

-

-

-

-

-

0.7

9.1

9.3

Bonds purchased by non-residents

-

-

-

-

1.1

0.8

696.9

660.2

903.7

921.0

Government bonds in FX

-

-

-

-

-

-

695.3

659.2

902.1

904.4

Government bonds

-

-

-

-

1.1

0.8

1.6

0.9

1.5

16.5