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.
