On June 17, the National Assembly began the work of regular sittings.
After approving the agenda, the deputies debated the annual report of the RA 2024 state budget execution. The RA Minister of Finance Vahe Hovhannisyan presented it. He recorded that Interest in the budget is growing year by year, due to the fact that the Ministry of Finance is continuously trying to make its content more accessible, expand communication channels, thus offering more targeted content to different groups of budget beneficiaries.
“The budget is for everybody, every person living in the Republic of Armenia,” the Minister underscored and added: “The budget is formed as a result of our joint efforts, and the more we earn and consume, the greater our contribution to the formation of the budget’s revenue side.”
Speaking about tax administration, the rapporteur noted that it should keep the issue of tax discipline in its focus. “I am glad that the decisions and legislative changes made over the past year have expanded the administration’s toolkit. I am confident that by expanding the use of digitalization and artificial intelligence tools, we will have the opportunity to more effectively identify cases of tax evasion and apply adequate liability.”
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Regarding the economic developments in Armenia, Vahe Hovhannisyan underlined that 2024 was a period of stabilization of economic growth for our country. It was noted that 5.9 percent economic growth was recorded in 2024, mainly due to the growth of services. In 2021-2024, the Armenian economy recorded an average economic growth of 8.2 percent.
The Minister stated that the high economic growth of the last three years has been accompanied by an increase in the standard of living of the population. According to the rapporteur, this is also evidenced by the positive dynamics of the main indicators characterizing the standard of living.
Vahe Hovhannisyan also spoke about the positive development registered in a number of spheres and presented some digital data.
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