Today, during the regular session of the government, the RA Minister of Finance Vahe Hovhannisyan presented the project of the government's decision, "On approving the annual report on the implementation of the 2022 state budget of the Republic of Armenia".
In his report, Minister Vahe Hovhannisyan referred to a number of key indicators of the last year's budget execution report. Minister especially noted that compared to the previous year, a 12.6% increase was recorded in state budget incomes and expenditures. In addition, incomes increased by 22.5 percent or by 379.3 billion drams, and expenses by 11.9 percent or by 238.3 billion drams.
About 1 trillion 926 billion drams (tax incomes and state duties) were entered into the state budget for 2022, as a result of which 104.4 percent of the legally approved indicator was provided.
Referring to the fiscal policy, Vahe Hovhannisyan emphasized that the efforts made in this area allowed to ensure a reduction of the state budget deficit compared to the GDP, as a result of which the 3 percent deficit compared to the planned GDP was revised during the year and actually amounted to 2.1 percent, decreasing by 2.5 percentage points compared to the previous year․
Due to the reduction of the state budget deficit, high economic growth and exchange rate appreciation, the government debt/GDP ratio has significantly decreased, making 46.7% instead of the predicted 60.2%, decreasing by 13.6 percentage points compared to the previous year.
As of December 31, 2022, the debt of the RA government amounted to 3,969.7 billion drams (10,086.4 million USD). The government's external debt decreased in both dram and dollar terms.