Tuesday, March 29 2022 17:40

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