Armenia’s National Assembly on Thursday approved the revised draft of the country’s 2026 state budget.

According to the approved draft, state budget revenues of Armenia will increase by 8.9% compared to 2025, reaching 3 trillion 91 billion drams (slightly over $8 billion). Expenditures will increase by 5.4%, reaching 3 trillion 628 billion drams (approximately $9.4 billion).

GDP growth is projected at 5.4%, or approximately 11 trillion 933 billion drams (about $31 billion).

The state budget deficit will amount to 536 billion drams (slightly under $1.4 billion). Compared to 2024—since the 2025 results have not yet been fully published, it will decrease from 5.5% of GDP to 4.5%.

Government debt will rise from 50.7% of GDP to 52.9% by the end of 2026, totaling approximately $16.5 billion.

Tax revenues will amount to 2 trillion 971 billion drams (approximately $7.7 billion). The tax-to-GDP ratio will increase by 0.4%.

As for expenditures, 2 trillion 924 billion drams (approximately $7.6 billion) will be current expenditures, and 704 billion drams (approximately $1.8 billion) will be capital expenditures. Their share in GDP will decline from 6.6% to 5.9%.