May 16, the report on the implementation of the 2021 state budget was submitted to the standing committees and factions of the National Assembly.

Artsakh National Assembly President Artur Tovmasyan, State Minister Artak Beglaryan were present.

Before submitting the budget execution report, the Minister of Finance and Economy of the Republic of Artsakh Vahram Baghdasaryan touched upon socio-economic indicators.

He noted that because of the 2020 war, there was a decline in almost all areas. In 2021, the gross domestic product in nominal terms amounted to 249.4 billion drams, which decreased by 12.7% compared to the previous year.

The following indicators have been registered in the main spheres of material production:

• The volume of industrial output amounted to 87.5 billion drams; it has decreased by 33.6% as compared to 2020
•  The volume of agricultural production amounted to 30.3 billion drams, which is 57.1% less than last year,
•  The volume of construction made 74.6 billion AMD; the growth is 48.3%.

The volume of imports of goods decreased by 8%, export volume by 28.1%. Inflation amounted to 5.9 percent. The average salary increased by 8.7% and amounted to 205,455 drams.

Actual revenues amounted to 46 billion 746 million AMD against the planned 28 billion 894.4 million AMD of own revenues. The target was exceeded by 62%.

The 2021 is characterized by tax benefits. Tax revenues and state duties amounted to 34 billion 257 million drams against the planned 24 billion 231 million drams. Thus, the planned ones were exceeded by 41.4%. 77.8% of tax revenues were provided by large taxpayers.

The budget loan received from Armenia made 128 billion 752.3 million drams. The budget deficit of 48 billion 610.2 million drams has been completed at the expense of borrowed funds.