According to the Budget Office of Armenia's National Assembly, tax revenues in the country's consolidated budget for 2024 amounted to $6.07 billion (2.39 trillion AMD), achieving only 91.4% of the revised annual target of $6.64 billion (2.615 trillion AMD).
Compared to 2023, state treasury revenues increased by $429 million (169 billion AMD), or 7.6%. Relative to 2022, the growth was $1.18 billion (465 billion AMD), or 24.1%. Even more striking growth is observed when compared to 2021, with an increase of $2.04 billion (804 billion AMD), or 50.7%.
A comparison with 2018, the year Prime Minister Nikol Pashinyan came to power, is particularly noteworthy: during this period, tax revenues rose by $2.87 billion (1.133 trillion AMD), or 90%.
According to the approved 2024 state budget, with a projected GDP growth of 7%, total state revenues were planned at $6.91 billion (2.723 trillion AMD), of which $6.63 billion (2.614 trillion AMD) was expected to come from taxes and state duties. Additionally, official grants of $56.5 million (22.276 billion AMD) and other revenues of $222.5 million (87.676 billion AMD) were anticipated.
