YEREVAN, JANUARY 4, ARMENPRESS. The State Revenue Committee (SRC) of Armenia collected 2 trillion 221 billion drams in tax revenues in 2023, which is 296 billion drams more compared to the previous year, SRC Chairman Rustam Badasyan told reporters Thursday.

“The revenue section of the state budget was executed around the figure of 2 trillion 221 billion drams in terms of tax revenues, which is around 296 billion drams more compared to the previous year,” Badasyan said.

He added that the government projects the tax-to-GDP ratio to improve significantly , which, according to Badasyan, means that the shadow economy is being reduced.

Badasyan said that billions of drams have been recovered from shadow circulation in 2023, which in turn positively impacted tax discipline.