1 / 3

The main core of the budgetary programmes for 2023 will continue to be the reinforcement of the security environment, economic strengthening, the development of human capital and our citizens’ social protection in consonance with the targets set out by the Government. At November 16 NA sitting, the RA Minister of Finance Tigran Khachatryan said about this, presenting the draft on the state budget for 2023.

“The rapid economic development has no alternative: the tax-budgetary policy laid on the draft budget presented to the National Assembly is aimed at that purpose,” the Minister noted. According to him, the increase of the tax revenues, the rise for targeting the expenditure programmes are the main directions of tax-budgetary policy of the involvement of the new borrowed means and efficiency of the existing debt management for the budget financing, which should be aimed at the rapid development of the private sector and form the macro-economic environment promoting it.

:In 2023 the draft budget was worked out in the conditions of the international and regional complicated challenges. During the last one year the world economic environment has become more unstable, the international trade has slowed down, the transportations have become costly and time consuming, the prices of the goods and services continue growing in the whole world,” the rapporteur underscored, adding that the mentioned conditions have negatively affected on our economic environment and raised the macro-economic risks.

Despite the enumerated uncertainties the representative of the Government documented that the economic activeness of this year exceeded all the expectations debated from the beginning of the year. In 2022during the nine years the economic activeness has grown by 14.1%, as a result of which, the state budget is overfulfilled. “It allows not only finance the budgetary expenditures of this year by the planned volume, but allocate additional financial means for security economic and social new programmes, as well as escalate the procedure of the implementation of the goals set out by the five-year progranne,” the Minister mentioned.

According to Tigran Khachatryan, the economic growth of this year can become one of the indicators of the highest growth recorded during the last 15-20 years. It was noted that in 2023, the indicator of the high economic growth should be the main index of the Government reforms and the economic policy efficiency measure.

During the upcoming year, the Central Bank will continue the policy of the high percentage rates, striving to return to 4% set by the law for the inflation.

The Minister also spoke about the policy of the Government promoting the boosting of the economic activeness.

As the rapporteur informed, during the year 2023 the legislative demand of the citizens’ revenue declaration will enter into force. The declarations will be submitted in spring of 2024 for the first time.