SRC presented the latest data on the state budget revenue indicator  of Armenia

ArmInfo.  Following the results  of 5 months of 2020, an increase in revenues to the state budget by  2.3% was registered in Armenia. Artur Manukyan, Deputy Chairman of  the RA State Revenue Committee (SRC),  announced on June 8 during the  joint meeting of the RA NA Standing Committees on Economic,  Financial, and Budgetary Affairs.

Noting that for the quarter I and II a target indicator of 770.3  billion drams (340.1 billion drams and 430.2 billion drams,  respectively) was set in the budget, Manukyan noted that as a result  of 5 months, revenues to the state budget of the Republic of Armenia  amounted to 583.6 billion drams. At the same time, the deputy head of  the State Revenue Committee found it difficult to assess whether  Armenia will be able to meet the target by the end of six months,  referring to the state of emergency in this regard, due to which a  number of types of business activities were completely or partially  prohibited. At the same time, he noted that during the reporting  period, due to objective reasons, the turnover of cash registers has  also decreased, which, of course, will affect the state budget  revenues.

In turn, RA Minister of Finance Atom Janjughazyan added that  according to recent forecasts, state budget revenues will decline by  2%. "Now we have indicators higher than we had for the same period in  the previous year, but lower than expected," he stressed. In this  context, the minister said that in May tax revenues to the state  budget amounted to 83 billion drams, against the expected 120 billion  drams. In case of equal conditions for dynamic economic development,  according to Janjughazyan, it was expected that by the end of 2020,  in terms of revenues to the state budget, it would be possible to  exceed the figure of 1.6 trillion drams. "However, today we have what  we have," he said, noting that every effort is now being made to  actively counteract the existing negative processes.