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During 2023, a tax revenue index of 2 trillion 222 billion AMD was provided, which was 23.9% of the gross domestic product (GDP). The nominal level of the revenues or the absolute number of taxes collected does not mean anything by itself, that is why we consider it in relation to the total value created by all of us during the last year, GDP, and compare it with the same indicator of the previous year to record progress or regression. The RA Minister of Finance Vahe Hovhannisyan said this while presenting the annual report on the execution of the 2023 state budget of the Republic of Armenia for debate at the regular sitting of the National Assembly on June 12.

Before moving to digital data, the Minister expressed concern that the interest of both the opposition and the public regarding the state budget execution report is quite low.

According to the rapporteur, 94.2% of the income in 2023 was formed through the taxes and duties paid by citizens and businesses, and it was 0.7 percentage points more than the previous year’s index. In 2023, the average tax rate per capita was almost 750 thousand AMD, 5 years ago - 424 thousand AMD, 10 years ago - 331 thousand AMD.

“Compared to 2021, our expenses have increased by 543 billion AMD, the majority of which goes to the 28 budget programmes that recorded the largest increase,” the Minister said.

Vahe Hovhannisyan informed that the budget deficit was almost completely financed at the expense of internal sources.

He also answered the MPs’ questions and gave clarifications.