May 16, discussions on the Republic of Artsakh 2017 annual report on the execution of the state budget began in the National Assembly. The meeting was chaired by the Head of the Standing Committee on Budget, Financial and Economic Management, Ruslan Israelyan.

Presenting macroeconomic indicators for the previous year, Minister of Finance of the Republic of Artsakh, Grigory Martirosyan, noted that in 2017 gross domestic product (GDP) was 272.1 billion drams, GDP per capita was 3844.8 dollars, according to which, for the first time Artsakh has almost compared with the corresponding indicator recorded in Armenia.

"Such a volume of GDP made it possible to fix a fairly high rate of economic growth - at a rate of 15.6%," the minister noted in his speech.

According to Grigory Martirosyan, the main impact on the overall indicator of economic growth was provided by the mining sector - 10%. The year ended with a 15.4-percent economic growth.

Real growth in the mining industry amounted to 54.8%, which allowed to fix the volume of production in the amount of 97.5 billion drams.

The average monthly salary was 155 thousand 433 drams, an increase of 1.8%.

The state budget revenues amounted to 41 billion 355.9 million drams, or the planned figure was overfulfilled by 6.6 percent.

Most of budget revenues made up tax revenues. Deficit made 3 bln 305.2 mln drams, dropping by 387 million drams compared to the previous year.

The total budget expenditures made 92 billion 98.1 million drams, or 96.5 percent of the adjusted index. Compared to last year's state budget expenditures increased by 8.8 points. According to the minister, growth of non-financial assets has contributed to growth.

"2017 budget has been concluded without any essential commitments, " Grigory Martirosyan stressed.

The MPs have asked the Minister of Finance to optimize budget expenditures, reduce funding for certain sectors and raise salaries.

Explanations to some questions were given by the state minister Araik Harutyunyan, who also presented a brief analysis of various sectors of the economy and also answered the questions of the deputies.

Discussions regarding the implementation of the budget will continue in the standing committees of the National Assembly.