ArmInfo.As of now, Armenia's tax revenues exceed the target by about AMD 70bln, Armenia's Premier Nikol Pashinyan stated at a Cabinet meeting on Thursday.
He reminded the Cabinet members of the government's intention to increase capital investments in rod construction and infrastructure development by AMD 40bln provided the tax revenue targets are exceeded (by about AMD 60bln in the first half of 2022).
Minister of Finance Tigran Khachatryan reported the government has received applications for AMD 25bln worth capital programmes. Minister of Territorial Administration Gnel Sanosyan reported that 363 applications for subvention programmes worth a total of AMD 74bln have been approved for this year, while 446 applications worth a total of AMD 11bln have been approve for next year. The projecs include asphalting, water-supply, construction ones.
The Cabinet decided to allocate a total AMD 757mln for implementation of 15 subvention projects in 15 settlements. Two hundred and thirty-seven programmes have been implemented, and the government- allocated funds will total AMD 8bln.
According to the 2022 draft budget, Armenia's budget revenues are to total AMD 1,947.8bln (24.7% of the GDP) or AMD 289bln (17.5%) more than last year. On-budget expenditures are to total AMD 2,184bln or 27.7% of the GDP - AMD 184bln more than the budgeted expenditures for this year and AMD 334bln more than last year). The budget deficit is estimated at AMD 236.2bln - AMD 6,736.3mln less than last year. 95% of the budget revenues will be ensured due to taxes and duties. The tax revenues are to total AMD 1,844bln against the actually recorded AMD 1,586.9bln or 22.7% of the GDP last year (0.3 percentage point more than in 2020).
