“Artsakh Republic State Budget 2023” Draft Has Been Adopted
29 December 2022

December 29, the regular sitting of the Artsakh National Assembly was convened.

The final discussion of the draft law on “Artsakh Republic State Budget 2023” was the issue of the agenda.

Presenting the second round of proposals of the deputies regarding the budget, Acting Minister of Finance and Economy Vahram Baghdasaryan, noted that after the discussion of the state budget was adjourned in the previous regular session of the National Assembly, the deputies presented 5 proposals to the government, 3 of which were after the first reading. Presenting the final version of the 2023 state budget, Vahram Baghdasaryan noted that no changes were made to the project based on the recommendations of the deputies.

Referring to NA President Artur Tovmasyan's proposal to subsidize the gas tariff in the 1st quarter, the Acting Minister informed that due to the lack of time and the need for accurate calculations, the issue will be addressed in January 2023. Furthermore, the issue of subsidizing will be discussed for subscribers of certain social groups, taking into account the option indicated in Tovmasyan's proposal.

Summarizing the final indicators of the state budget for 2023 proposed by the project, the acting minister of finance noted that the own revenues of the state budget were planned in the amount of 49 billion 850 million AMD, which is 4 billion 295.9 million AMD or 9.4 percent more than the planned revenues for 2022. Among them, tax revenues and state duties will amount to 49.0 billion drams or 8.9 percent more than the planned revenues for the current year, as a result of which the forecast "Taxes/GDP" ratio will make 16.0 percent.

The amount of the budget loan in 2023 will be 136 billion AMD.

The 2023 state budget expenditures are planned in the amount of 215 billion 171.4 million AMD, which decreased by 2.7 percent from the state budget expenditures of the current year. The expenditure level in the GDP will be 69.1 percent, compared to 77.5 percent of the current year. As a result, the deficit will amount to 29 billion 321.4 million AMD.

Subsequently, the factions presented their views on the project.

The draft law of the Republic of Artsakh "On the Republic of Artsakh State Budget 2023" was adopted with the ratio of 16 votes in favor, 7 against, and 5 abstentions.

Artur Tovmasyan made an MP statement.

At the end of the session, the NA President, Artur Tovmasyan, announced the completion of the work of the 6th session of the 7th convocation.