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Finance Minister Vahe Hovhannisyan told lawmakers on Monday that the tax-to-GDP ratio is projected to improve by 0.6 percentage points in 2027 under the state budget bill.
“Capital expenditures will stand at around 5.7% of GDP, the state budget deficit will be 3.4%, compared to the 4.5% planned for 2026, and public debt will stabilize at around 47%. Economic growth is projected to stand at around 6% over the medium term. In 2029, the tax-to-GDP ratio will reach 25.7%, capital expenditures will rise to 5.9%, government debt will decline to 46.4%, and the deficit will fall below 2%,” Hovhannisyan said at a joint session of parliamentary committees discussing the 2027 state budget bill.