11:44,

YEREVAN, JUNE 15, ARMENPRESS. The 2021 state budget revenues increased in Armenia connected with the economy recovery and the growth in tax revenues as a result of it, Minister of Finance Tigran Khachatryan said while introducing the 2021 state budget performance annual report in the Parliament.

He reminded that the annual economic growth, which was initially planned to be 3.2%, comprised 5.7%. “The economic growth was mostly connected with the growth in services, which have formed the 4 percentage point. Half of the growth has been ensured by accommodation and catering services. The impact of the industry growth has been 0.8%”, the minister said.

However, the cut in agriculture negatively affected the economic growth, as the overall growth figure has been cut by 0.2%.

“In 2021 the state budget revenues of Armenia increased connected with the recovery of the economy and the growth in tax revenues as a result. The total revenues of the budget comprised 1 trillion 683,8 billion drams, increasing 7.9% compared to the previous year, the revenue performance to the adjusted program comprised 99.6%. 94.2% of the revenues has been formed by tax revenues – 1 trillion 587 billion drams, which is the 22.7% of the GDP of 2021”, he said.

The taxes increased by 14.6% compared to the same period of the previous year. The budget’s tax revenue plan has been fulfilled by 100.2%.

The taxes-GDP rate increased by 0.3%, reaching 22.7%.

As for the capital expenditures, the performance has registered the highest growth compared to the past year – 92.5%. Compared to 2020, the current expenditures have increased by nearly 120 billion drams or 7.2%.

With the results of 2021, the government debt to GDP comprised 60.3%, which has improved by 3.2% compared to the previous year.