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It is proposed to set out by law the legal bases of creating an account for the budgetary system stabilization and regulate its management, replenishment and use processes, to authorize the Government to establish the replenishment and use of the stabilization account means. The package of draft laws on Making Addenda to the law on RA Budgetary System and on Making Addenda to the law on Treasury System authored by the Government presided over by Gevorg Papoyan was debated at October 17 sitting of the NA Standing Committee on Financial-Credit and Budgetary Affairs.

The purposeful average level of the stabilization account means is also fixed in the law on Budgetary System of the Republic of Armenia, which is calculated as an average daily residual of the given annual working days, and which should be in the budgetary message of the given year of the RA Government from about one to two percent of the GDP forecast for the year.

The Deputy Minister of Finance Armen Hayrapetyan noted that after the first reading the Government presented editorial proposals, which were accepted.

The Committee members debated in the first reading the draft law on Making Addendum to the law on Budgetary System of the Republic of Armenia.

As the RA Deputy Minister of Hi-Tech Industry Avet Poghosyan assured, the necessity of the draft adoption is conditioned by providing legal basis for several decisions of the RA Government in force, as well as by the need of setting out norms authorizing by law for making decisions regulating the relevant sphere in future.

According to the Deputy Minister, with the certain decisions of the RA Government the calculating norms of the expenditures on telephone communication postal communication services in the expenditures of maintaining the public power bodies are approved.

It is proposed sub-legislative normative acts establishing norms in separate expenditure directions of giving authority to the RA Government.

The Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan noted that legislative bases are created for the decisions of the Government are created by the draft.

As a result of debate, the package of the drafts and the bill were endorsed.