Tax revenues 10% up in Armenia in Jan-Oct 2024 as compared with same  period last year 

ArmInfo. As of October 31, 2024, the consolidated budget of the Republic of Armenia received 1  trillion 970.1 billion drams in tax revenues, which is 75.4% of the program indicator for the year in the amount of 2 trillion 613.6 billion (24.9% of GDP).

As reported by the Budget Office of the National Assembly of the  Republic of Armenia, citing operational data, during the reporting  period, tax revenues to the state treasury of Armenia exceeded the  revenues for the same period in 2023 by 9.8% or 176.5.7 billion drams  and the figure for 2022 by 26.4% (410.9 billion drams). Compared to  2021, the increase was 691.1 billion drams or 54%, 835.3 billion  drams or 73.6% more than in 2020. During the reporting period, the  same indicator for 2019 was exceeded by 61.6% or 773.3 billion drams.  The indicator for 2018 (it was in May of this year that Prime  Minister Nikol Pashinyan came to power - ed.) increased by 968.7  billion drams or 96.7%. 

Nevertheless, 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).