The NA Standing Committee on Financial-Credit and Budgetary Affairs endorsed the annual report on the Execution of the RA 2023 State Budget at the extraordinary sitting on June 7.
The RA Deputy Minister of Finance Vahan Sirunyan briefly presented the report, which was being debated in detail in the joint sittings of the NA Standing Committees for about 2 weeks.
Next, the report on the execution of the first quarter of the 2024 state budget was debated.
According to the RA Deputy Minister of Finance Vahan Sirunyan, in the first quarter of 2024, the rate of economic growth accelerated in the main partner countries, which was combined with increases in state and private consumption. At the same time, inflation stabilization was observed in the partner countries in the conditions of maintaining the restraining monetary policy position.
From the viewpoint of export and import, in the months of January-March 2024, a 2.7-fold increase in the export of goods was recorded, but the export of goods of Armenian origin decreased by about 14.3%. The high growth was mainly due to the re-export of gold, mainly to the United Arab Emirates.
Import growth was 75.8%, but without the effect of re-exports, import growth decreased by 9.2%.
In terms of economic activity, high rates of growth continued in January-March 2024.
In the reporting period, state budget revenues in the first quarter amounted to 525 billion AMD against the planned 563.1 billion AMD, the execution was 93.2%. Compared to the same period last year, the revenues increased by 8.6%. The expenses amounted to 525.9 billion AMD, the execution was 82.5%. Compared to the same period last year, expenses increased by 24.4%.
Regarding the deficit, the performance was 0.9 billion AMD, compared to the planned indicators of 77.4 billion AMD, the performance was 1.2%.
The Deputy Minister presented other indicators as well.
Vahan Sirunyan answered the MPs’ questions.
The Committee took note of the submitted report.