According to the latest report from the World Bank, from the beginning of the current year until the present moment, there has been a surplus of 3.8 billion drams (around $10 million) in Armenia's budget. This occurred due to exceeding the budget in January.
However, in February 2024, the budget showed a deficit of 64.9 billion drams (over $160 million), as reported by the World Bank.
In February of this year, tax revenues increased by 9.5% compared to the same period last year, primarily due to growth in VAT and income tax collection, which increased by 13.5% compared to the previous year.
At the same time, expenditures rose by 34.7% compared to the same period last year, mainly due to an almost five-fold increase in capital expenditures (including a doubling of defense expenditures) and a 47% increase in social expenditures to support refugees.
