ArmInfo. In 2024, the tax revenues of the state treasury of Armenia will be about 200 billion drams less than the program indicator. This led to a reduction in the expenditure items of the state budget. This was stated by the head of the department Vahe Hovhannisyan on December 25 at the final press conference.
Thus, according to the minister, despite the fact that in absolute figures the tax revenue indicators are higher than last year, the actual budget execution is lower than the program indicator.
<This is due to the fact that this year tax revenues will be about 200 billion drams less than planned. In this regard, we tried to restrain the implementation of a number of expenditure items in order to avoid additional problems>, - he specified.
In particular, in order to avoid problems with the country's financial stability, the authorities cut expenses, for example, in the area of school construction programs. But next year, school construction will be carried out on an unprecedented scale - 150 schools will be included in the program, concluded Hovhannisyan.
According to the Ministry of Finance, the revenues of the state treasury of Armenia amounted to 2 trillion 268.9 billion drams in January-November 2024. Compared to the same period last year, the figure increased by 9.6% or 199.2 billion drams. The expenditures of the state budget of the Republic of Armenia amounted to 2 trillion 501.1 billion drams. Compared to the same period last year, the figure increased by 17.3% or 368.7 billion drams. During the reporting period, the deficit amounted to 232.2 billion drams, compared to 62.7 billion drams for the same period in 2023.
However, as it became known, the financial authorities had previously adjusted their expectations for the main macroeconomic indicators for 2024. Thus, in the law <On the state budget of the Republic of Armenia for 2025>, by the end of the current year, the state treasury of Armenia, with a GDP growth of 5.8% (today the head of the Ministry of Finance announced a figure of 5-5.5% - ed.), compared to the program indicator for the current year, will lose revenues in the amount of 130 billion drams, the shortfall in tax revenues and state duties will amount to 157.8 billion drams. State budget expenditures will be cut by 130.5 billion drams. Current expenditures are planned to be reduced by 74 billion drams. Expenses on non- financial assets are expected to fall by 56 billion drams - to 639.3 billion drams. As a result, the only constant is a deficit of 482.9 billion drams.
