Yerevan's Revenues Grew by 17 Billion AMD in 10 Months

Yerevan's own revenues in the first ten months of 2025 have increased by more than 17 billion drams compared to the same period last year. Mayor Tigran Avinyan announced this on November 17, during a working session at the Yerevan Municipality, noting that the capital has recently increased its revenues at "exceptional rates."

During the session, Davit Hakobyan, the acting head of the municipality's revenue accounting and collection department, reported that of the 72.2 billion drams of own revenues planned for January-October 2025, 70.1 billion drams have actually been collected, with a performance of 97%. According to him, the main reason for the shortfall was the lack of revenue from transport fares.

Responding to the report, Mayor Tigran Avinyan noted that in about a year, Yerevan has increased its own revenues by 32%, and over the past three years, they have almost tripled.

"It is at the expense of these financial resources that the work we are witnessing is taking place. Not only the yard work but also many, many other major repair works in parks and streets," he said, emphasizing that all this has been made possible thanks to the increase in revenues.

At the same time, the mayor stressed that these revenues are not yet directly correlated with the country's overall economic growth and there is work to be done in this direction. He referred to the most important reform planned for the development of local self-government bodies: financial decentralization.

"We are talking about the legislative initiative on tax deductions for financial decentralization, which will give not only the city of Yerevan but also all other communities of the Republic of Armenia the opportunity to be guided not just by the logic of survival and maintenance, but will create a significant development opportunity for everyone," Avinyan noted.

According to him, this reform will allow communities not only to maintain and reconstruct existing infrastructures but also to create new ones, thereby promoting balanced development throughout the country.