The draft of the 2020 State Budget of Armenia envisages increasing Armenia’s attractiveness for foreign investors, and tax reforms need to contribute to this. This is what Minister of Finance of Armenia Atom Janjughazyan said during a discussion on the draft of the 2020 State Budget at the National Assembly today.
Overall, the expenditures in the 2020 State Budget will increase by almost 17% (about AMD 271 billion) and make up AMD 1,880,200,000,000. Moreover, revenues will increase by only 8% and more and will make up AMD 7,697,600,000,000. As a result, the deficit of the budget will increase up to 182,600,000,000, and the ratio of the GDP to deficit will go up from 0.6% to 2.6%.