Yerevan Council Approves 2024 Budget

The Yerevan Council has adopted the decision to approve the draft city budget for 2024. The project was presented by Vilen Arevshatyan, head of the Financial Department of the Yerevan Municipality.

"The total amount of revenues projected in the draft budget for Yerevan City in 2024 is 124 billion 639 million drams. The total volume of revenues includes 61 billion 514 million drams from own revenues. The budget also envisages 14 billion 136 million drams in subsidies from the state budget of Armenia, which is 706 million drams more than the figures approved for 2023," Arevshatyan stated.

The expenditure section of the draft budget for Yerevan City in 2024 is planned at 124 billion 917 million drams. Current expenditures account for 85.5 percent of the total expenditure volume.

Arevshatyan emphasized that the budget draft allocates 70 million 610 thousand drams to the defense sector and 30 billion 480 million drams to economic relations, with major projects including the reconstruction of asphalt pavement. The health sector is set to receive 343 million drams.

The 2024 budget for Yerevan also plans to allocate 4 billion drams for the construction of a metro station in the Ajapnyak administrative district and 879 million drams for infrastructure renovations.

Funds will also be allocated for the implementation of various projects including communication networks for drainage in recreation areas and parks, construction of ramps, renovation of preschool institutions, and several other initiatives.