In January 2023, the Prime Minister of Armenia, Karen Tamazyan, announced during a press conference in Yerevan that tax and public debt revenues exceeded the projected amount. The projected revenue was expected to be 204 billion AMD, but the actual result reached 221.9 billion AMD, surpassing the projection by 18 billion AMD. Tamazyan emphasized that this represents a 15.4 percent increase compared to the previous year’s actual result for tax and public debt revenues.

The Minister of Finance revealed that a total of 529 billion AMD in tax and public debt revenues were collected in 2023, exceeding the previous year’s actual result by 128 billion AMD or 32 percent. This signifies a significant growth in revenue for the country.

This positive news showcases Armenia’s successful efforts in boosting tax and public debt revenues. It reflects sound economic management and growth, which is crucial in ensuring the country’s financial stability and development.

Armenia’s ability to surpass the projected revenue highlights its potential to continue thriving economically. The increase in tax and public debt revenues not only shows a strong fiscal performance but also provides opportunities for further investment in important sectors such as infrastructure, education, healthcare, and social welfare.

It is clear that the government’s policies and strategies aimed at promoting economic growth and fiscal responsibility are yielding positive results. This achievement not only benefits the government but also has a direct impact on the citizens of Armenia, as increased revenue can lead to improved public services and a higher standard of living.