The Ministry of Finance of Armenia has released data on the state budget execution for January-October 2024. Despite significant revenue growth, increased expenditures have led to a substantial budget deficit.
In the first ten months of 2024, state budget revenues amounted to approximately $5.21 billion. This represents a 9.4% increase compared to the same period last year, equating to an absolute growth of around $447 million.
Budget expenditures during the reporting period reached $5.74 billion, marking a 19.4% year-over-year increase. In monetary terms, expenditures grew by approximately $931 million.
As a result, Armenia’s state budget for January-October 2024 was executed with a deficit of $531.4 million. This significantly exceeds the deficit for the same period last year, which stood at approximately $47.7 million.
