In 2022, we recorded 12.6 percent economic growth, which is an unprecedentedly high indicator for the last 15 years. Accordingly, the tax revenues of the 2022 state budget amounted to 1 trillion, 926 billion drams, which is 82 billion drams or 4 percent more than originally planned. Armenian Prime Minister Nikol Pashinyan stated this in his remarks during the debates on the performance of the 2022 state budget at the joint session of the National Assembly (NA) committees Monday.

"In other words, when the NA adopted the 2022 budget in December 2021, the revenue part was planned to be 82 billion dram less. But I also want to emphasize that the 2022 budget indicators are 399 billion drams or 21.4 percent higher than 2021 in terms of tax revenues. Compared to 2017, tax revenues in 2022 are more by 2 billion 20 million drams or 66.3 percent, and compared to 2018—by 670 billion drams or 53 percent," Pashinyan said.

Turning to the question of what caused this increase in budget revenues, the Armenian PM mentioned three factors. "The first is the indicators of economic growth, the second is the reduction of the shadow [economy], the third is the reforms implemented by the Armenian government," he said.

"In April 2023, tax revenue of 296.8 billion drams was collected, which is a record indicator in the history of Armenia. So much tax revenue has never been collected in Armenia in one month. For example, in April 2022 we had collected tax revenue of 231.3 billion drams, whereas in April 2018—126 billion drams; that is, compared to April 2018, tax revenues have more than doubled," the PM emphasized.

And reflecting on the tax revenues collected in the first four months of this year, Pashinyan said that more money was entered into the budget in those months than in each of the years between 2000 and 2010.