National Assembly Approves 2023 Budget Execution

The National Assembly approved the draft resolution on "The Annual Report on the Execution of the State Budget of the Republic of Armenia for 2023" with 67 votes in favor.

In the reporting year, the revenues of the state budget amounted to 2,358,783,606.4 thousand drams, while expenditures reached 2,547,649,891.9 thousand drams, resulting in a deficit of 188,866,285.5 thousand drams.

Economic growth of 8.7% was recorded in 2023, surpassing the forecasted 7.0%. Inflation stood at 2%, significantly slowing down compared to the previous year, while the unemployment rate decreased by 0.9 percentage points to 12.6%. Additionally, wages increased by 14.6% during the year.

At the end of the year, the public debt reached 11,845.4 million USD, of which external debt was 6,501.5 million USD (54.9% of the total) and domestic debt was 5,343.9 million USD (45.1% of the total).