YEREVAN, APRIL 3, NOYAN TAPAN. Expenditures of 93.9 bln drams (over 304.1 mln USD) were incurred at the expense of the RA state budget in January-February 2008. In particular, current expenditures made 91.6 bln drams, operations with nonfinancial assets - 2.3 bln drams. According to the RA ministry of finance and economy, budgetary expenditures grew by 57.5% or 34.3 bln drams as compared with the same period of 2007. The growth was mainly due to an increase of current expenditures, which made 55.2% or 32.6 bln drams. The quarterly program of current expenditures was executed by 61.2% in the first two months of this year. 6.7 bln drams was allocated for payment of salaries of state institutions' employees, while 477.1 mln drams was allocated for making compulsory social security payments. Budgetary allocations for the purchase of services and goods made 13.3 bln drams. The government's quarterly program of the indicated expenditures was executed by 53.9%, 47% and 46% respectively. 2.1 bln drams was allocated for state debt servicing in January-February 2007, which made up 78.6% of the quarterly program. In particular, 1.7 drams was provided for servicing the domestic debt and 415 mln drams - for servicing the foreign debt. State debt servicing expenditures grew 2.2fold on the same period of 2007. The total amount of subsidies from the state budget made 2.5 bln drams, exceeding 1.6fold the same index of last year. In January-February 2007, grants accounted for 13.6% or 12.5 bln drams of the state budget's current expenditures, 3.5 bln drams of which was allocated to financing of subsidies to comminity budgets by the equalization principle. Subsidies increased by 19.3% as compared with January-February 2007.

---