Under Armenia’s draft 2027 state budget, revenues are projected at 3 trillion 604 billion drams, equivalent to approximately $10 billion. Prime Minister Nikol Pashinyan presented the figure during a joint meeting of the National Assembly’s standing committees, where lawmakers were discussing the draft law on the 2027 state budget.
The prime minister also addressed trends in government revenue, comparing the projected figures with those recorded in 2017 and 2021, Armenpress reports.
“We should note that compared with 2017, the revenue side of the 2027 state budget is projected to increase by 191%, meaning that revenues will nearly triple. Compared with 2021, the increase is 114%, or approximately 2.1 times,” Pashinyan said.
The government’s financial plan also envisages a substantial increase in capital expenditure. Specifically, capital allocations planned for 2027 are expected to be 3.2 times the 2017 level, while a 3.5-fold increase is projected compared with 2021.
Particular attention was also given to funding for education and science.
“In education, the planned increase compared with 2017 is 181%, or 2.8 times, while compared with 2021, funding is set to increase 2.3 times. In science, the increase is 2.7 times compared with 2017 and 2.5 times compared with 2021,” the prime minister noted.
Nikol Pashinyan also drew attention to the fact that as the state budget expands, both planned expenditures and public expectations increase.
“The higher the level of prosperity in a country, the higher the level of prosperity people expect. The funds in Armenia’s state budget are resources generated through the activities of the citizens and residents of the Republic of Armenia,” Nikol Pashinyan said.
