The finance ministry of the Republic of Armenia has announced that the public budget deficit is expected to peak in 2024. It is projected that the public budget expenditures will exceed income by AMD 483 billion in that year. The government attributes this increase to the capitalization of the budget and the rise in current expenditures, as indicated in the program presented for 2024.

According to the National Statistical Service of Armenia, the public budget deficit is expected to constitute 4.6% of GDP in 2024. This surpasses the planned figures of 3.1% for 2023 and 2.1% for 2022. The deficit serves as an indicator of the state’s debt burden, with a lower value implying a more positive outcome.

This news comes from Armenia, a country known for its ongoing economic developments. Stay tuned for further updates on the country’s financial outlook and budgetary performance.