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On November 2 the parliament began the debates of the RA draft law “On the State Budget of the Republic of Armenia for 2016” at the joint sitting of the Standing Committees, where the RA NA Speaker Galust Sahakyan, the RA Prime Minister Hovik Abrahamyan, the RA NA Deputy Speakers Eduard Sharmazanov and Hermine Naghdalyan, deputies and the members of the Government attended it.

The RA Prime Minister Hovik Abrahamyan presented the general description of the state budget for 2016. Hovik Abrahamyan has noted that the state budget for 2016 also has distinct social orientation, which testifies to the fact that about half of the budgetary expenditures are for the social, educational, cultural and healthcare spheres. Hovik Abrahamyan highlighted the debate and the adoption of the RA new Tax Code.

The RA Deputy Minister of Finance Pavel Safaryan submitted for the deputies’ evaluation the draft budget, where the main macro-economic indices, the income and expenditures are lain in the bases.

The Chairman of the Central Bank (CB) Artur Javadyan presented the conclusion of the CB on the RA draft law “On the RA State Budget for 2016,” as well as the draft of the administrative expenditures and the capital investments for 2016.

On the same day the revenues and the expenditures to be allocated to the RA Police, the RA National Security and the RA Ministry of Emergency Situations were debated by the RA draft law “On the State Budget for 2016” at the joint sitting of the RA NA Standing Committee on Defense, National Security and Internal Affairs and on Financial-Credit and Budgetary Affairs moderated by Koryun Nahapetyan and Gagik Minasyan.

Pavel Safaryan presented the budgetary means to be allocated to the abovementioned spheres in the coming year, and those responsible for the spheres, the RA Minister of the Territorial Administration and Emergency Situations Armen Yeritsyan, the RA Deputy Head of Police Anubahg Hambaryan and the Deputy Director of the National Security Service Aram Hakobyan, touched upon the indices, the prior problems, the reforms and priorities being implemented.

The joint second sitting of the RA NA Standing Committee on Defense, National Security and Internal Affairs and on Financial-Credit and Budgetary Affairs, which related to the financing of the Ministry of Finance and state reserves, was held behind closed doors.