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YEREVAN, DECEMBER 25, ARMENPRESS. State budget tax revenues will be 200 billion drams less than initially planned, according to finance minister Vahe Hovhannisyan.
“The budget was executed with smaller percentage, although nominally we have higher indicators. This is due to the lower-than-expected tax revenues, which, in 2024, will be nearly 200 billion drams less than planned,” he said at a press conference.
The government has suppressed expenditures to avoid additional problems, he said.
The underperformance of planned spendings is associated, among others, with these developments, the minister said.
Speaking about the government’s school building program, he said that 2025 will be unprecedented in terms of implementation of the project. The process will involve the simultaneous construction of over 150 schools in the country.
State budget revenues amounted to 2 trillion 268,9 billion drams in January-November 2024, a 9,6% increase compared to the same period of 2023. Expenditures amounted to 2 trillion 501,1 billion drams, a 17,3% increase. But the indicators have decreased compared to the adjusted plan.