No problems in ensuring tax revenues - official 

ArmInfo.Head of the State Revenue Committee (SRC) of Armenia Rustam Badasyan does not see any  problems in ensuring the tax indicators of the state budget for 2024.

According to Badasyan, the tax revenues of the state treasury not  only did not decrease, but also increased compared to last year.  Thus, in January-September 2024, tax revenues amounted to 1.767  billion drams, which is 112.7 billion drams or 6.8% higher than in  the same period last year. At the same time, he assured, this dynamic  will increase by the end of the year.

And thanks to tax administration, as expected, 133.9 billion drams  were withdrawn from the "shadows" and additionally sent to the  budget, which is 38.5 billion drams more than in 2024.

The chief tax official acknowledged that despite early expectations  of nominal GDP growth of 11% (2 trillion 611 billion drams), the  figure will most likely be 7% (2 trillion 455 billion drams), which  will naturally lead to a number of deviations between the initially  planned and currently projected figures.  Despite this, the ratio of  taxes to GDP, as previously promised by the government in its program  of activities for 2021-2026, will already be 25% in 2025, compared to  22.6% in 2020, he emphasized.

Meanwhile, it should be noted that in January-September 2024,  compared to the state budget plan, tax revenues were underfulfilled  by 148.6 billion drams, and expenditures - by 224.7 billion drams. At  the same time, capital expenditures were underfulfilled by about 66.4  billion drams. As ArmInfo previously reported, referring to the  budget message of the draft state budget of the Republic of Armenia  for 2025, by the end of 2024, Armenia will underfulfill both the  revenue and expenditure items of the budget. Thus, compared to the  program indicator for the current year, the state treasury will lose  tax revenues and duties by 158 billion drams, and state budget  expenditures will be cut by 130 billion drams (with an annual  indicator at the level of 2 trillion 511.2 billion drams or 23.9% of  GDP).