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At September 27 sitting of the RA NA Standing Committee on Financial-Credit and Budgetary Affairs, moderated by Gevorg Papoyan, the issue on the implementation process of the first half of the 2021 RA state budget was debated.

The RA Minister of Finance Tigran Khachatryan noted that the negative economic consequences of the pandemic and 44-day war continued in the financial period. Growth of expenditures of the state budget was recorded because of anti-crisis events directed to the neutralization of the socio-economic consequences of coronavirus and the implementation of the additional expenditures as a result of the 44-day war. The expenditures of the state budget were 866.4 bln AMD. The deficit of the state budget was 75.5 bln. The capital budget execution of the adjusted programme was 64,3%. Due to coronavirus, programmes of about 19.8 bln AMD were implemented to mitigate the negative socio-economic consequences. The expenditures carried out to counteract the consequences of the 44-day war were about 41.1 bln AMD, of which the expenditures in the field of social protection were 39 bln AMD.

The RA state duty has grown by 220.2 bln AMD compared with the end of the previous year.

The Deputy Chairman of the RA Central Bank (CB) Nerses Yeritsyan informed that in February 2021, taking into consideration the inflation developments in the international food markets and the certain acceleration of the inflation expectations, the RA CB raised the re-financing interest rate by -.25 percent point, setting it 5.5%.

The RA CB does all the best to reduce the inflation, reaching the designed 4%.

The First Deputy of the RA State Revenue Committee (STC) Artyom Stepanyan noted that the total revenues of the RA state budget were 790.9 bln AMD growing by 10.3% compared with the same period of the previous year, and the taxes and duties were 750 bln AMD.

The representative of the RA Audit Chamber (AC) Davit Chibukhchyan informed that during the financial period the AC carried out audit in 16 state bodies. 101 inconsistencies were recorded.

The rapporteurs answered to the MPs’ questions, which mainly related the state budget revenues and expenditures, the service of the RA state duty and the upcoming works to be done.

The certificate on the first half of the year for the RA state budget was acknowledged.

The Committee members and the attendees observed one-minute silence to honour the memory of the 44-day war victims.