EDB: Armenia's 2025 budget executed with a deficit of 3.7% of GDP

YEREVAN, March 18. /ARKA/. Armenia's 2025 budget was executed with a deficit of 3.7% of GDP, which is in line with the 2024 level and below the planned target of 5.3% of GDP. This was stated in the March macroeconomic review of the Eurasian Development Bank.

According to the bank's analysts, while tax revenues grew by 14%, expenditures increased by 11.8%. Actual budget execution amounted to 70% of the planned deficit: 102% for revenues and 94% for expenditures.

In January 2026, Armenia recorded a budget surplus of 0.9% of GDP, compared to 1% of GDP the previous year. Budget revenues increased by 7.5% and expenditures by 9.3% year-on-year. According to the review, in January 2026, state budget revenues amounted to 256.4 billion drams, expenditures amounted to 151.4 billion drams, and the surplus amounted to 105 billion drams.