Armenia`s ministry of finances revises GDP growth forecast down 

ArmInfo. By the end of 2024, the Armenian economy is projected to grow by 5%. This was stated by RA Finance Minister Vahe Hovhannisyan in parliament on January 13.

"Since the growth of economic activity has somewhat weakened in the  last months of 2024, according to our estimates, economic growth for  2024 will be within 5%, plus or minus," he said.

According to the RA Law , in  the conditions of ensuring 7% GDP growth, the revenues of the state  treasury of Armenia will amount to 2 trillion 723.6 billion drams  (25.9% of GDP), and expenses - 3 trillion 206.5 billion drams (30.5%  of GDP). Tax revenues and state duties are envisaged in the amount of  2 trillion 613.6 billion (24.9% of GDP).

It has recently become known that in 2024, the state treasury of  Armenia lost tax revenues in the amount of 224 billion drams - 2  trillion 390.9 billion drams of tax revenues were received by the  consolidated budget of the Republic of Armenia, which is 91.4% of the  adjusted figure for the year in the amount of 2 trillion 614.9  billion. As for the growth of economic activity, it slowed down to  7.4% per annum in January- November 2024 (from 9.4% in the same  period of 2023).

Thus, if in September last year, when drawing up the draft state  budget, GDP growth was projected at 5.8%, then at the end of  December, the head of the Ministry of Finance announced a different  figure - 5- 5.5%. Now it is .