Armenia’s state budget deficit to drop to 2.8% of GDP in 2028, compared to 5.5% in 2025 – Finance Ministry

Economy
RA Minister of Finance Vahe Hovhannisyan gave a summarizing press conference at the Armenia Marriott Hotel of Yerevan, Armenia

YEREVAN, June 16. /ARКА/. Armenia plans to cut the state budget deficit to 2.8% of GDP in 2028, compared to 5.5% planned for 2025, said RA Finance Minister Vahe Hovhannisyan.

“In 2030, this ratio will be 1%, and it is planned to do this in such a way that programs important for the country’s economic development are not affected,” Hovhannisyan said at a press conference on Monday.

Earlier, Hovhannisyan said that the state budget deficit of Armenia in 2024 was less than expected by 0.9% – 3.7% instead of 4.6% of GDP. In absolute figures, this figure amounted to 376 billion drams or approximately $970 million; the public debt amounted to approximately 48% of GDP. -0-

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