Artsakh NA discussed the draft law of the Republic of Artsakh "On State Budget of 2019”

On December 13, at the regular plenary meeting of the eighth session of the National Assembly of the Republic of Artsakh, the draft law of the Republic of Artsakh "On State Budget of 2019” was submitted to the Parliament.

Artsakh NA discussed the draft law of the Republic of Artsakh "On State Budget of 2019”

Artsakh NA discussed the draft law of the Republic of Artsakh

STEPANAKERT,  DECEMBER 13, ARTSAKHPRESS: As “Artsakhpress” reports, presenting the draft law, the Minister of Finance of the Republic of Artsakh, Artur Harutyunyan, said that it was developed guided by the main provisions of the Artsakh Republic President's 2017-2020 Program aimed at ensuring sustainable economic growth, development and business environment.

"Budgetary politics of 2019 will be aimed at promoting and gradually increasing the economic growth. The minister said GDP for 2019 is expected to comprise 333.2 billion AMD by ensuring nearly 8% real growth in case of forecasted deflator of 2%, which corresponds to the target economic growth envisaged by the Artsakh Republic President's Program for 2017-2020.

In the context of the macroeconomic projections, the state budget revenues of 2019 will comprise 112 billion 340.9 million AMD, and the expenditures – 110 billion 987.7 million AMD. As a result of which the profits will be 1 billion 353.2 million AMD, which will be used to repay the previously borrowed funds.

The state budget revenues are planned to be $ 54.7 billion, which is more by 1.7 billion drams or by 3.2% as compared to 2018 planned revenues. Tax revenues and state duties will amount to 54.2 billion drams or 2.8% more than planned revenues for the current year.

Aram Grigoryan, Chairman of the NKR NA Standing Committee on Budget, Financial and Economic Management presented the endorsement of the head committee.

The Chair of the Standing Committee on Defense, Security and Law Enforcement Affairs Zhanna Galstyan presented a positive conclusion about articles containing official and state secrets.

Afterwards, the exchange of views on the state budget took place, during which deputies Hayk Khanumyan, Arthur Tovmasyan, Gagik Bagunts touched upon education, housing construction, interest rates reduction and a number of other issues.

Referring to the issues raised, Artsakh State Minister Grigory Martirosyan, said that recently certain decrease in interest rates has been observed in the market.

"I would like to touch upon the housing issue. It is one of the most important and most problematic issues. In that sense, the government has chosen the only realistic way.

Besides the cases when the obligation of providing certain categories with dwelling houses assumed the Government, in all other cases, the solution of the housing problem is possible through the affordable mortgage.

This year, the amount of money to be given to Artsakh Investment Fund has increased by 1.5 billion drams, the purpose of which is to finance the new housing projects," Grigoryan said.