ArmInfo. In January 2026, the RA state budget expenditures amounted to 151.4 billion drams. This figure represents a 9.3% increase, or 12.9 billion drams, compared to the same period previous year, as stated in the information bulletin released by the RA Ministry of Finance regarding the execution of state budget for the first month of the year.
In January 2026, the RA state treasury revenues amounted to 256.4 billion drams. This figure increased by 7.5%, or 17.9 billion drams, compared to the same period last year. In state budget for January 2026 was executed with a surplus of 105 billion drams, up from 100 billion drams in the same period last year.
According to the approved 2026 state budget, state treasury revenues will increase to 3 trillion 91 billion drams (slightly over $8 billion), while expenditures will reach 3 trillion 628 billion drams ($9.4 billion). Economic growth (GDP) is projected at 5.4%, reaching 11 trillion 933 billion drams (approximately $31 billion). The state budget deficit will amount to 536 billion drams (slightly under $1.4 billion), or 4.5% of GDP. By the end of 2026, government debt will increase from 50.7% to 52.9% of GDP, amounting to approximately $16.5 billion. Tax revenues will account for 2 trillion 972 billion drams (approximately $7.7 billion), with the tax-to-GDP ratio increasing by 0.4%. Regarding expenditures, 2 trillion 924 billion drams ($7.6 billion) will be spent on current expenditures (salaries, pensions, government procurement for healthcare, etc.), and 704 billion drams ($1.8 billion) on capital expenditures (construction of roads, schools, and other facilities). Their share of GDP will decrease from 6.6% to 5.9%.
