May 10, Minister of Finance Spartak Tevosyan presented the annual report on the execution of the 2016 annual report to the parliamentarians, responsible persons of standing committees and factions of the National Assembly of the Republic of Artsakh.

The sitting was conducted by the Head of the Standing Committee on Budget, Financial and Economic Management, Ruslan Israelyan.

The Head of the NA Ashot Ghoulyan, Prime Minister Araik Harutunyan, deputy head of the National Assembly, Vahram Balayan and members of the government attended the joint discussion of the legislative and executive authorities.

According to the minister, in the reporting year the gross domestic product amounted to 230 billion drams, which is 9.2 percent more than last year. The volume of industrial output amounted to 59 billion drams, which is 9.7 percent more than last year.

According to the Minister of Finance, the generation of own electricity for the past year is almost equal to the amount of electricity consumed.

A total of 296.4 million kW / h of electricity was produced, and 299 million kW / h was consumed.

The average monthly salary was 152.707 drams, which is 1.1% more than in 2015.

In 2016, the state budget own revenues amounted to 33 billion 711.1 million drams, which is less by 725.3 million drams compared to data for 2015. According to the head of the Ministry of Finance the incomes reduced due to the April war in 2016.

The actual expenditures of the state budget amounted to 84 billion 670 million drams. Compared with the data for 2015, expenditures increased by 1 billion 562.7 million drams. The deficit amounted to 3 billion 692.4 million drams.

Prime Minister Araik Harutunyan made explanations on the budget execution, stressing that despite the damage caused by the April war, the economy was not in a force majeure situation.

One of the successes of 2016, Araik Harutunyan called the diversification of the economy and the growth of production in the energy sector.

Discussions on the report on the execution of the state budget for 2016 will continue in the standing committees and factions of the parliament.