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YEREVAN. – The year 2019 was a historic year for Armenia in terms of budget because the government succeeded in generating 104 million drams more in tax revenues than originally planned. Prime Minister Nikol Pashinyan stated this during Friday’s debates on the 2019 state budget performance, at the joint sitting of the standing committees of the National Assembly.

"Moreover, 62 billion drams of that amount became the state budget revenues, and the VAT debt was returned in the amount of 42 billion drams, which was formed before January 1, 2017; I believe this was a historic event,” Pashinyan added. “In 2019, an unprecedented 7.6% economic growth was registered for the last 12 years, we had a tax-to-GDP ratio of 22.35%, which is 1.6% higher than the forecasted indicator.”

The PM also noted that the current Armenian government has not been “fortunate” enough yet to have a non-historic year, or has been fortunate enough to function in historical years, or has the opportunity to carry out historic years. "It is clear that this year we will have some economic problems; also, we will have problems due to the [COVID-19] epidemic. But I would advise not to make predictions about what 2020 will be like, because the period of the coronavirus has just started, it is still unknown how long it will last; it's too early to sum up the results and the losses," Pashinyan noted.

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