26 May 2021
May 26, the NA Standing Committee on Budget, Financial and Economic Management, headed by Arthur Harutyunyan, convened a sitting.
Five of the six members of the Committee were present at the sitting.
The State Minister, Minister of Finance Grigory Martirosyan presented for discussion the planned Amendments and Additions to the Law "On the 2021 State Budget of the Artsakh Republic".
The draft proposes to increase the own revenues by 6,100.0 million drams, official grants by 1,667.4 million drams.
A new program is planned to provide financial assistance in the amount of 77,000.0 million drams to the fulfillment of credit obligations of the individuals and legal entities who found themselves in a difficult situation as a result of hostilities unleashed against the Artsakh Republic on September 27, 2020.
The expenditure plan for "Measures to Hire Apartment or Temporary Accommodation" for those remaining homeless and/or people in poor social conditions temporary accommodation and rental of accommodation is scheduled to increase by 3.674.5 million drams.
The cost program on "Repair, Restoration and Maintanance of the Reserves, Canals and Water Pipes” is planned to increase by 3,000.0 million drams, the expenditure program “Implementation of agricultural activities” is planned to increase by 1, 000,0mln dramս.
The cost of the expenses on the program “Developing Capacuty the districs of Artsakh, Current Repairs, Improvement of the Utility Services, Capacity Building Costs” will increase by 1, 300.0 mln drams, the cost program on “Capital Investments” is planned to increase by 10.000.0 mln drams.
The money provided to the Artsakh Investment Fund and the village and the Agricultural Support Foundation by 4,000.0 and 3,000.0 million drams, respectively.
75,484.6 thousand drams are envisaged to ensure the expenses of the socio-economic problems of the separate subdivision of the Artsakh Republic displaced citizens, by the Operative Headquarters of the Government of the Artsakh Republic in Armenia, created by the Office of the President.
It is planned to provide bonds issued by the Artsakh Republic in order to replenish the state budget deficit:
10,100.0 million drams will be added to the "Costs of the Borrowed funds Involved (Interest Payments) service ".
"The 2021 Artsakh State Budget Expenditures are planned to increase by 115,051.4 million, while the income of the state budget by 7,767.4 million”.
As a result of the changes, the shortage of the 2021 state budget will increase by 107,284.0 million drams, the funding of which will be funded by the issuance of borrowed funds and securities and the entries received from the placement, " summerised in his word the State Minister, Minister of Finance Grigory Martirosyan.
The Minister of State for Finance and members of the government clarified the issues raised by the deputies and the proposals.
With 3 votes “for” and 2 “against” the bill was presented with a positive conclusion to be discussed at the upcoming plenary sitting.
According to the bill "On Making Additions to the Law “On the Budget System of the Artsakh Republic” it is proposed to establish the following features of the process of developing the draft state budget of the 2022 state budget, that is:
With 5 votes “for” the draft has been presented to the forthoming plenary sitting for discussion.
Government members and MPs participated at the sitting.
