YEREVAN, DECEMBER 7, ARMENPRESS. Parliament is debating the 2023 state budget. The initial version has been amended, with increased projected spending and revenue.

“According to the draft, the 2023 state budget spending will stand at 2 trillion 591 billion drams, while the revenues will be 2 trillion 302 billion drams. The deficit will be 289 billion drams,” Finance Minister Tigran Khachatryan told lawmakers. He said that compared to the previous version of the budget they have increased the spending by 826 million drams, and revenues by 734,5 million drams. “Tax revenues were not amended and are defined at 2 trillion 203,7 billion drams. The revenue increase was done at the expense of other revenues and official grants. The deficit remained unchanged,” Khachatryan said.

The changes were done due to re-calculations of currency rates as of November 1, which led to adjustments being made in the revenue and spending, and in some cases higher allocations for several programs.

The main part of program spending increases relate to defense, economic and social protection programs.