National Assembly of the Republic of Armenia

12/08/2021 | News release | Distributed by Public on 12/08/2021 05:47

National Assembly Resumes Debate of Draft Law on RA State Budget for 2022

On December 8, the RA National Assembly Resumed the work of the regular sittings. The deputies debated the draft law authored by the Government on Making Addenda to the law on Remuneration of the Persons Holding State Positions and State Service Positions.

The NA Standing Committee on Labor and Social Affairs endorsed the draft law.

As a result of voting afterwards the parliament passed the bills debated on the previous day.

Then the parliament resumed the debate of the draft law on the RA State Budget for 2022.

The RA Minister of Finance Tigran Khachatryan presented the revised draft law. Accordingly, in 2022 the budget revenues will be 1 trillion 947.8bln AMD, the expenditures - 2 trillion 184bln AMD, and the deficit - 236.2bln AMD. Besides the mentioned expenditures additional events with the amount of 85bln 556mln AMD included in the supplement of priorities, which can be carried out, of the budget revenues exceed the envisaged amount or part of the envisaged expenditure events will be carried out with less cost.

The Minister presented the amendments made in the expenditure and cost sections of the draft law, adding that as a result, the deficit reduced in the amount of 6bln 736.3 AMD.

"The draft budget for 2022 was formed in consonance with the programme of the Government for 2021-2026, especially emphasizing the solution of the security, educational systems, the development of the inclusive and qualified infrastructures issues. The solution of these problems should create bases for the development of high economic growth," Tigran Khachatryan noted. He has stressed that the state budget of the coming year was formed during a hard period, when the security, social and economic consequences of the coronavirus pandemic and war recorded in 2020 are not overcome yet. "Despite that we succeeded to manage the bases, which could impede the further economic development," he underlined and added that Government succeeded to preserve the macro-economic stability, due to which high - 5% rate of the recovery rate growth was registered. By the assessment of the Government, the high indicator of the economic growth will be preserved until the end of the year and will become a reliable basis for the economic growth planned for 2022. The Government expects to record 7% economic growth for the coming year. 352bln AMD or 4.5% of the gross domestic product (GDP) will be allocated for the capital expenditures. Besides the mentioned ones, subventions of capital significance of about 18.4bln AMD will be allocated to the communities for the infrastructure co-financing of the community significance, etc.

After presenting the draft law the Minister answered to the MPs' questions.