Armenia’s gross domestic product (GDP) is projected to reach 13 trillion 614 billion drams in 2027, Finance Minister Vahe Hovhannisyan announced during a meeting of the National Assembly’s Standing Committee on Financial-Credit and Budgetary Affairs.
“We forecast GDP of 13 trillion 614 billion drams. This is an improvement compared with our previous forecasts. State budget revenues will amount to 3 trillion 604 billion drams,” the minister said, Armenpress reports.
According to the draft published by the government, state budget expenditures are projected at approximately 4 trillion 72 billion drams, with a deficit of 468.2 billion drams. To finance the deficit, the government plans to raise around 187.5 billion drams from domestic sources and 280.7 billion drams from external sources.
Addressing capital expenditures, Hovhannisyan said the draft budget would allow the government to maintain a high level of public investment.
“We will have the opportunity to spend 57 billion drams more on capital expenditures next year,” he said.
According to the minister, approximately 44% of capital expenditures are planned for the defense sector. He also highlighted increased allocations for healthcare and social programs.
Under the draft budget, tax revenues and state duties are expected to total approximately 3 trillion 463 billion drams, official grants 14.2 billion drams, and other revenues 126.9 billion drams.
Hovhannisyan added that the government also plans to reduce the budget deficit.
The draft state budget for 2027 is included on the agenda of the National Assembly’s regular sessions scheduled to begin on November 17.
