YEREVAN, APRIL 4, NOYAN TAPAN. In January-February 2007, the RA state budget (without the inflow of resources received under credit programs financed from the foreign sources) was fulfilled by a surplus of 20.9 bln drams (about 58.1 mln USD). The state budget was financed in the amount of 20.1 bln drams from domestic sources of financing, and in the amount of 759.8 mln drams from foreign sources. According to the RA Ministry of Finance and Economy, the state budget was negatively financed by 1.9 bln drams at the expense of treasury bonds (their issue made 6 bln drams, redemption - 7.9 bln drams). 433 mln drams was spent on redemption of promissory notes at the expense of domestic sources of deficit financing. Available budgetary resources increased by 17.8 bln drams. In the period under review, 759.8 mln drams was allocated for payment of foreign liabilities. This sum was allocated for payment of the US commodity credit, as well as for payment of liabilities by a number of programs implemented with the assistance of the World Bank. In the first two months of this year, 957.5 mln drams was allocated for servicing the state debt of the RA, which made up 43.5% of the quarterly program. 557.2 mln drams was allocated for servicing the foreign debt, 400.3 mln drams - for domestic debt. Expenditures on state debt servicing declined by 15.1% compared with January-February 2006.

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