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And thanks to tax administration, as expected, 133.9 billion drams were withdrawn from the "shadows" and additionally sent to the budget, which is 38.5 billion drams more than in 2024.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