Armenia's budget revenues to double in 2024 compared to 2017 - Badasyan

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Economy

10.10.2024, 16:01

Head of Armenia's State Revenue Committee Rustam Badasyan said today that state budget revenues will double in 2024 compared to 2017.

Armenia's budget revenues to double in 2024 compared to 2017 - Badasyan

YEREVAN, 10 October. /ARKA/. Head of Armenia's State Revenue Committee Rustam Badasyan said today that state budget revenues will double in 2024 compared to 2017.

This figure has been achieved without a significant increase in the tax burden. It is mainly due to economic growth and reduction of shadow economy,’ he said at a press briefing.

Badasyan disagreed with allegations that the country has high tax rates and that because of this many big businessmen try to take advantage of loopholes to evade taxes.

All opportunities and conditions for doing business have been created in the country. It is possible to pay taxes faithfully and get profit,’ tBadasyan said.

Armenia's economic growth is set at 7 per cent in the 2024 state budget. Armenia's Central Bank expects the country's economy to grow between 6.5 and 5.8 per cent in 2024.

According to official statistics, Armenia's GDP grew by 6.4 per cent in the second quarter to about AMD 2.3 trillion.

According to Armenia's 2024 state budget, revenues are planned at 2.723 trillion drams and expenditures at 3.206 trillion drams.

Earlier it was reported that Armenia's state budget revenues in 2017 totalled 1.238 trillion drams, while expenditures totalled 1.506 trillion drams. ($1 - 387.06 drams).-0-

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