YEREVAN, November 28. /ARKA/. Armenia’s state budget for the first ten months of 2025 was executed with a deficit of 229.7 billion drams, compared to a deficit of 211.5 billion drams for the same period last year.
This is stated in the report on the execution of the state budget for January-October 2025, published by the Ministry of Finance.
It is noted that this amount constitutes 37.3% of the revised budget plan.
“The relatively low deficit compared to the annual plan is primarily due to higher revenue execution compared to expenditures, which led to an increase in available budget funds through domestic financing. Furthermore, a small amount of loans from external sources was noted – 35.5 billion drams, or 9.1% of the annual plan,” the report states. According to the Ministry of Finance, state budget revenues for the first ten months of 2025 reached 2,367.8 billion drams, accounting for 82.8% of the revised budget. Compared to the same period last year, revenues increased by 14.2%, reaching approximately 294.4 billion drams.
Expenditures for the period from January to October amounted to 2,597.5 billion drams, accounting for 74.8% of the planned volume. Compared to the same period in 2024, expenditures increased by 13.7%, or 312.6 billion drams.
In its latest report, “Armenia Monthly Economic Review – November 2025,” the World Bank noted that Armenia’s cumulative budget deficit for the first three quarters reached 0.73% of projected annual GDP, compared to the planned deficit of 5.5% of GDP for 2025. Finance Minister Vahe Hovhannisyan previously stated that the budget deficit is planned to be reduced from 5.5% to 4.5% in 2026, to 3.5% in 2027, then to 2.8%, and finally to 1% by 2030. (1 US dollar = 381.07 drams). -0-
