Eduard Hakobyan, head of Armenia’s State Revenue Committee (SRC), announced on Facebook that tax revenues for 2025 not only met but exceeded budget forecasts.
“Together with taxpayers, we maintained strong double-digit growth throughout the year, closing 2025 with high results,” Hakobyan wrote.
Total tax and state duty revenue for 2025 amounted to 2 trillion 725.2 billion drams, which is 334.3 billion drams or 14.5% more than in 2024.
Compared to the state budget’s initial target of 2 trillion 720.3 billion drams, actual revenue reached 100.2%. Against the revised target of 2 trillion 729.4 billion drams, collection was at 99.8%.
The results also exceeded projections set in Armenia’s 2026–2028 Medium-Term Expenditure Framework and the 2026 budget message.
“These figures reaffirm that our policies and people-centered environment—built on dialogue and partnership—are effectively fostering a responsible and conscientious tax culture,” Hakobyan stated.
He expressed gratitude to taxpayers for their discipline, responsibility, and trust.
In 2025, authorities identified around 2,500 unregistered employees, and refunded 382.1 billion drams to businesses and citizens.
