Authorities Aim to Reduce Budget Deficit to 1% by 2030: Hovhannisyan

The government’s capacity to service state debt has increased. This was stated by Finance Minister Vahe Hovhannisyan during a meeting with journalists.

He added that expenditures financed by debt have yielded results, allowing for increased revenues such that the country currently does not face challenges with debt servicing. Hovhannisyan explained that the borrowed funds are directed toward capital expenditures. He admitted that the level of public debt has increased, urging to consider not only this trend but also the Debt-to-GDP ratio, which has decreased from 52% in 2018 to 48% in 2025.

“The authorities aim to reduce the budget deficit to 1% by 2030. This will essentially mean a balanced budget. We have set a goal to reduce the budget deficit by 1 percentage point each year,” the minister added.