National Assembly Approves 2024 State Budget Draft: Key Provisions

The National Assembly of Armenia has approved the draft of the 2024 state budget. The draft received 71 votes in favor and 25 against. The discussions on the budget proposal resumed on December 6.

After being presented to the National Assembly, amendments were made to the revenue, expenditures, and deficit of the state budget draft, which were influenced by the planned support programs for the displaced population from Artsakh.

The projected revenues for the 2024 state budget are set at 2 trillion 723 billion drams, with tax revenues and duties amounting to 2 trillion 613 billion drams. The draft budget outlines expenditures totaling 3 trillion 206 billion drams, of which capital expenditures are estimated to be around 695 billion drams.

According to the draft, the budget deficit is expected to be approximately 483 billion drams, accounting for 4.6 percent of the GDP.