ArmInfo. Last year, Armenia's budget tax revenues totaled AMD 1,926bln, which exceeds the revised target, AMD 1,894.3bln, by 1.7% and the previously set target, AMD 1,843.9bln, by 4.4%. According to the data available as of December 31, 2022, tax revenues of Armenia's state budged exceeded those in 2021 by AMD 339.1bln or by 26.4%, those in 2020 by AMD 540.8bln or by 39%, those in 2019, by AMD 461.7bln or by 31.5%, those in 2018, by AMD 667.9bln or by 53.1%.
As of December 31, 2022, overpayments totaled AMD 44.3mln against AMD 4.1bln in 2021, 373.6mln in 2020, AMD 137.3bln in 2019, and AMD 55.3bln in 2018.
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). However, during last year Armenia's government revised its tax revenue targets upward - up to AMD 1,894.3bln.
Next year, Armenia's financial authorities plan to collect AMD 2,203.7bln taxes amid a 7% GDP growth (planned nominal GDP growth is AMD 9,317.9bln or 23.7% of the GDP), 5% deflator and 5.6% inflation. The budget revenues are expected to total AMD 2,302bln (21.9% of the GDP), with the budget deficit to total AMD 288.9bln (3.1% of the GDP).
