The Ministry of Finance of Armenia reported on Monday, April 1, on the execution of the country's state budget for January-February 2024.
According to the press service of the Ministry of Finance of Armenia, for the first two months of 2024, the revenues of the state budget amounted to 324.4 billion drams, which is 8% or 23.9 billion drams more than in the same period last year.
In January-February 2024, state budget expenditures amounted to 320.7 billion drams, increasing by 30.4% or 74.7 billion drams compared to the same period last year.
Thus, for January-February 2024, the state budget of Armenia was executed with a surplus of 3.8 billion drams, while for the same period last year, the surplus was 54.5 billion drams.
Experts note that the revenues for the first two months of 2024 also include amounts of income tax refunds on interest payments on mortgage loans. It is important to note that these amounts were not accounted for in the indicators for 2023.
Economists from the analytical center "Luys" suggest adjusting the data for 2023 to make the indicators comparable. After this adjustment, revenue growth will be 3.9%, and tax revenue growth will be 3.7%.
At the same time, other experts explain the slowdown in the growth rate of state budget revenues by the low level of inflation in the country.
Earlier, BMG reported that in February 2024, Armenia registered deflation at a rate of 1.7% compared to February 2023, and for the month, this indicator was 0.7%. The baseline inflation scenario included in the budget is 4±1.5%.
