The discussion of the draft law "On the Republic of Artsakh State Budget 2023" was the issue of the agenda. It was presented by Norayr Avanesyan, Deputy Minister of Finance and Economy of the Republic of Artsakh.

According to the Deputy Minister, the state budget draft for 2023 was developed taking into account objectives of the Republic of Artsakh President’s 2020-2025 programs and provisions of the 2023-2025 medium-term state expenditure program of the Republic of Artsakh.

Referring to the macroeconomic indicators of 2022, Norayr Avanesyan noted that 18.2 percent economic growth was recorded in the 9 months of 2022, compared to the 9 months of the previous year. The gross domestic product was 199.6 billion drams, compared to 162.8 billion drams in the same period last year. With the results of 9 months, growth was recorded in all branches of the economy. According to the minister, “Industry” branch provided 10.4 %, "Agriculture, forestry and fishing" branch - 0.9 %, the construction branch - 0.7 %. According to forecasts, the gross domestic product in 2022 will amount to 285.2 billion drams, providing a 10% real growth in the conditions of a 4% deflator.

The estimated gross domestic product volume for 2023 will be 311.5 billion drams, growth - about 5.0 percent, with a projected 4.0 percent deflator. The inflation rate is forecasted at 4.5 percent with a margin of +/-1.0 percent.

"The own revenues of the 2023 state budget are planned in the amount of 49 billion 850 million drams, the amount of the budget loan in 2023 will be 144.0 billion drams, the budget expenditures are planned in the amount of 215 billion 171.4 million drams, the level of expenditures in the GDP will be 69.1 percent, as a result the deficit will be 21 billion 321.4 million drams," said the Deputy Minister of Finance and Economy.

The main spending priorities according to the 2023 budget draft are as follows:

Agriculture: AMD 6 billion 037.1 million

Energy sector development and subsidy program: AMD 4 billion 20.0 million

Artsakh Investment Fund: AMD 4.0 billion

Capital investments: AMD 22.0 billion

Social security: AMD 72 billion 939.9 million

Housing provision program: AMD 10.0 billion

"Provision of monetary support for the temporary satisfaction of housing needs of persons displaced and/or displaced as a result of war operations" program: AMD 12 billion 102.7 million

Healthcare: AMD 13 billion 401.1 million

Education: AMD 15 billion 497.0 million

Culture, youth and sports:  AMD 1 billion 843.4 million

Municipal budgets: AMD 1 billion 108.1 million

After introducing the main bill the Deputy Minister of Finance gave clarifications to the questions of the deputies.

Artur Harutyunyan, chairing the sitting, informed that the discussions of the draft law "On the Republic of Artsakh State Budget 2023" will continue at the joint sitting of the Standing Committee on Budget, Financial and Economic Management and the sectorial committees.