Government projects over 2,2 trillion dram tax revenue for 2023

YEREVAN, OCTOBER 31, ARMENPRESS. Tax revenues in 2022 will total 1 trillion 920 billion drams, while for 2023 the government is forecasting 2 trillion 204 billion drams, Finance Minister Tigran Khachatryan told lawmakers at a parliamentary committee session on the 2023 state budget draft.

“At this moment we predict that this year’s tax revenues will stand at 1 trillion 920 billion drams, at least 75 billion more than initially projected under the 2022 state budget. Based on revised data we already project that next year’s tax revenues will stand at 2 trillion 204 billion drams, which will be 3,7% of the GDP,” Khachatryan said. This growth is in line with the tax increase scenario envisaged under the 2021-2026 government program, he added.

“In the next years we need to secure 0,5% tax revenue increase against the GDP to be able to have a level exceeding 25% for 2026,” Khachatryan added.