YEREVAN, May 7. /ARKA/. At the end of 2019, the ratio of taxes to GDP in Armenia was 22.3% against 20.95% a year earlier, Prime Minister Nikol Pashinyan said Wednesday in the National Assembly as he presented the performance of the government’s program to the lawmakers.
“Thus, during 2019, we increased the tax/GDP ratio by 1.28%. This is an extremely tangible result, comparable with additional tax revenues in the amount of 90.7 billion drams,” the prime minister said.
He stressed that according to the results of last year, the aggregate amount sent by the 1000 biggest taxpayers of the country increased by 13% compared to 2018, and by 31% compared to 2017.
Pashinyan noted that these indicators were mostly ensured by large taxpayers, not by small and medium-sized businesses.
According to official statistical reports, Armenia’s GDP has grown 7.6% in Armenia in 2019.
The National Assembly of Armenia recently reviewed the budget indicators for 2020, taking into account the adverse effects of the situation with coronavirus. Thus, the forecast for GDP is reduced from growth of 4.9% to a decline of 2%, and the budget deficit is increased from 160.7 billion drams to 340 billion drams (5% of GDP, against the previous 2.3%) The spending remains unchanged – AMD 1.85 trillion.
Tax revenues are expected to shrink by 169.1 billion drams to 1 trillion 433 billion drams. ($ 1 – AMD 481.97). -0-
