ArmInfo. According to the latest data of the Budget Office of the National Assembly of Armenia, as of March 20, tax revenues and the state duty of the state budget of the Republic of Armenia amounted to 322.1 billion drams, or 81.5% of the planned indicator for Q12022 in the amount of 394.5 billion drams.
This is 20.7% or 55.3 billion drams more than the revenues for the reporting period of last year. Compared to 2019, the increase amounted to 40.9 billion drams or 14.5%, and from 2018 - by 148.8 billion drams or 85.8%. At the same time, the indicator is 3.2% or 10.6 billion drams less than in Q12020.
As of March 20, 2022, transitional overpayments amounted to 17.8 million drams, against 16.5 million drams for 2021, 118.6 million drams for 2020, 136 billion drams for 2019 and 53.8 billion drams for 2018.
Earlier, Chairman of the State Revenue Committee (SRC) of the Republic of Armenia Rustam Badasyan said that he not sees any risks in terms of tax collection in Q1 2022, but also hopes that the target will be exceeded. According to the chief tax officer, the actual tax collections amounted to 144.6 billion drams in January, 110.5 billion drams - in February, and 140 billion are planned to be collected in March.
It should be noted that according to the RA law "On the State Budget for 2020", Armenia's GDP by the end of the year will be 7% (the other day, the Central Bank and the IMF adjusted their forecast to 1.6%, Fitch Ratings - to 1.3% - ed. note). Budget revenues in 2022 will amount to 1 trillion 947.8 billion drams (24.7% of GDP) or 17.5% (289 billion drams) more than in 2021, expenditures - 2 trillion 184 billion drams or 27.7% GDP (184 billion drams more than the figure adjusted for the current year and 334 billion drams more than the approved figure for 2021), while the state budget deficit decreased by 6 billion 736.3 million drams - up to 236.2 billion drams. The lion's share of the revenue item of the state budget - about 95% - will be provided by tax collections (tax revenues and state duty). As a result, tax revenues will amount to 1 trillion 844 billion, against the actual 1 trillion 586.9 billion drams or 22.7% of GDP in 2021
