Armenia’s budgetary shortfall may amount to 75 billion drams

Armenia’s 2016 budgetary shortfall may reach 75 billion drams, ‘Haykakan Zhamanak" reports.

The official data of the State Revenue Committee for the first eight months says that Armenia's tax revenues totaled 695.2 billion drams, as much as in the first eight months of 2015.

"Before the yearend the tax authorities will have to collect a total of 1 trillion 129 billion drams to meet the projected target. This means they have four months to collect another 434 billion drams, or 108 billion drams per month, which seems very unlikely because the tax authorities had collected 368 billion drams in the last four months of 2015, or an average of 92 billion drams a month, ‘ ARKA cited the newspaper as saying.

According to the newspaper, if the current trend is maintained (and this will be the best scenario), the shortfall in tax revenues will be about 66 billion drams; however, this figure is very likely to reach 72-75 billion drams. The daily recalls that last year’s tax revenue shortfall amounted to 72.4 billion drams