State Revenue Committee Head: Despite the absolute figures, tax  revenues in Armenia, compared to GDP, grew at an accelerated pace

ArmInfo. In 2024, tax revenues (tax income and state duty) to the consolidated budget of the Republic of Armenia totaled 2 trillion 390.9 billion drams. This  amount is 5.1% or 117 billion drams higher than the figure for 2023  as stated by the Chairman of the State Revenue Committee (SRC) of  Armenia, Eduard Hakobyan, on March 19 meeting of the Standing  Committee on Economic Affairs, while reporting on the work carried  out by the SRC in 2024. 

At the same time, Hakobyan tried to clarify the reasons for the  decrease in the tax-to-GDP ratio in 2024 to 23.6% from 24.1% in 2023.  According to Hakobyan, when tax revenues from the domestic economy  and imports are analyzed separately, it becomes evident that there  was a 14% increase in the former and a decline in the latter. The  decrease in imports is mainly due to a reduction in car imports,  which is an objective phenomenon. Therefore, the chief tax official  believes that, based on the increase in revenues from the domestic  economy, it can be concluded that taxes grew at a faster rate,  compared to GDP.