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Armenia adopts 2023 budget with deficit of 11.2% of expenditures, expecting 7% GDP growth
YEREVAN. Dec 8 (Interfax) – The Armenian budget for 2023 passed the second and final reading in the Armenian parliament on Thursday.
According to the document, budget expenditures will amount to 2.591 trillion drams ($6.547 billion), revenue will reach 2.302 trillion drams ($5.817 billion), and the deficit will stand at 289 billion drams (about $732 million), or 11.2% of expenditures.
The 2023 budget forecasts 7% GDP growth and 4% inflation (with allowable +/-1.5% fluctuations).
Armenia is expecting to receive 2.204-trillion-dram tax revenue in 2023.
The official exchange rate for December 8 is 395.72 drams to the dollar.
