Pashinyan: Armenia`s 2024 state budget revenue part to be doubled  compared to 2018

ArmInfo. In terms of the revenue part of the 2024 budget, the RA budget will double compared  to 2018. Prime Minister of the Republic of Armenia Nikol Pashinyan stated on October 30 at a parliamentary committee hearing on the draft state budget of the Republic of Armenia.

According to him, the revenue part of the planned budget for 2024  will be 1.367 trillion drams or 105% higher than the state treasury  revenues of 2018. At the same time, as the Prime Minister noted,  government funding will increase significantly in a number of key  areas. In particular, volumes in education will increase by 130%  compared to 2018. The sector's financing increased part alone will  amount to 165 billion drams. Similar growth is planned in other  areas. Pashinyan expressed hope that the master plan for the Academic  City will be ready in 2024. According to him, the authorities have  moved on to the practical part of the project.

The Prime Minister emphasized the importance of the fact that, in the  face of regional and international threats, the Armenian government  managed to ensure macroeconomic stability this year. The country, he  said, continues to remain in an environment of high economic growth.  In 2023, GDP rates are expected to be at least 7%; inflation growth  rates continue to remain stable and manageable: in the first 9 months  of this year, inflation growth rates amounted to 2.8%. In September,  a record number of officially registered jobs was recorded - 726,056.  Thus, over the past five years, over 178 thousand new jobs have been  opened in the country.

Pashinyan added that a high level of GDP and macroeconomic stability  are the mechanisms through which it is possible to overcome existing  challenges and threats, including in solving the problems of forcibly  displaced residents of Nagorno-Karabakh. According to the current  situation, about 100 thousand refugees received one-time assistance  in the amount of 100 thousand drams. Pashinyan emphasized that  assistance programs for displaced people will continue in 2024.

According to the draft state budget, state budget revenues for 2024  are planned at 2 trillion 676.1 billion drams, or 13.1% higher than  the expected figure for 2023 and almost 30% than the actual figure  for 2022.  GDP growth for 2024 is planned at 7% or 10 trillion 496  billion drams in absolute figures. State budget expenditures are  planned at 3 trillion 17.4 billion drams, or 16.4% more than planned  for 2023.