News - Armenia parliament approves 2024 state budget

The National Assembly on Thursday adopted the 2024 state budget of Armenia. A total of 71 MPs voted for this budget, whereas 25—against it. Thus, the revenues of the state budget of Armenia in 2024 are planned to be 2.723 trillion drams, and the expenses—3.206 trillion drams. Tax revenues will amount to 2.613 billion drams, and will make up 24.9% of the country’s GDP. Planned expenses will be 3.206 trillion drams. Among them, the capital expenditures will amount to about 695 billion drams. Thus, capital expenditures in 2024 will exceed the current year's figure by 27%, and will make up 6.6% of the GDP. At the same time, 42% of capital expenditures will go to Armenia’s defense sector. The deficit of Armenia’s state budget next year will amount to about 483 billion drams, or 4.6% of the country’s GDP. However, the debt-to-GDP ratio will remain unchanged, at 48.3%, at the end of 2024.