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On July 12, at the RA NA Standing Committee on Financial-Credit and Budgetary Affairs moderated by Gevorg Papoyan a working debate of the budgetary programmes of the RA state budget for 2023 was held.

The RA Minister of Finance Tigran Khachatryan presented the structure of the state debt of our country, the process of its service and the management in the sphere of finances.

According to the Minister, 5 trillion 246 billion AMD state debt has been forecast for 2023, which is 58% of the RA gross domestic product (GDP).

In 2023, the state debt will be serviced from the inner sources with 255 billion AMD. Borrowed funds also will be included for the debt service. The increase of the weight of treasury bonds was highlighted in the debt service.

It was noted that in 2023, 260 billion AMD will be allocated for the service of the state debt interests.

As the Minister has assured, formerly the foreign currency was prevailing in the state debt structure, as a result of implemented work, now the Armenian dram occupies its place in the state debt structure.

In the development of economy Tigran Khachatryan considered important the reliability of the state debt management. He also noted that in the near future fundamental reforms will be implemented in the state structure.

The Minister also presented the budgetary financial allocations of the RA Ministry of Finance. About 4 billion AMD was allocated to the sphere of the public finance management.

The Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan voiced questions, which related to the service interest payments of the state duty, the allocations of the Ministry of Finance, etc.

Gevorg Papoyan underlined the necessity of the reforms in the sphere of the state debt service.

The Coordinator of the NA Budget Office Gagik Barseghyan presented a number of observations on the RA state budget for 2023.