1 / 8

The Gross Domestic Product (GDP) will amount to 11 trillion 934 billion drams in 2026. The economic growth will be 5.4%. The state budget revenues are expected to amount to 3 trillion 91 billion drams, of which tax revenues will amount to 2 trillion 973 billion drams. As a result of the improvement of tax administration, the fight against the shadow, as well as tax policy measures, it is expected to improve the tax-to-GDP ratio by 0.4 percentage points. This was stated by the RA Minister of Finance Vahe Hovhannisyan, summarizing the main indicators of the 2026 state budget and important measures to be implemented.

The draft law on the RA State Budget for 2026 was debated at the extraordinary sitting of the Standing Committee on Financial-Credit and Budgetary Affairs on November 5.

The Governor of the RA Central Bank Martin Galstyan and the Deputy Chairman of the State Revenue Committee Hamlet Sahakyan also participated in the debate.

According to the main rapporteur, the state budget expenditures are planned in the amount of 3 trillion 628 billion drams, of which 2 trillion 924 billion drams will be current expenditures, and 704 billion drams will be capital expenditures. It will amount to 5.9% of the gross domestic product. Accordingly, the expenditures will amount to 30.4% of GDP, decreasing by 0.8 percentage points from the expected amount for 2025. The state budget deficit is expected to be 537 billion drams.

“Macro-stability has become Armenia’s hallmark. Reducing the budget deficit from 5.5% to 4.5% in the pre-election year is a very important signal for all potential partners and investors. We have high economic growth, low inflation,” Martin Galstyan said.

The Committee endorsed the draft.