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The Audit Chamber formed its opinion on the credibility of the financial indices of the annual report on the state budget 2022 execution through the financial and compliance audits provided for in the first part of its activity plan. The current results of the audits were published quarterly, and some of them became the subject of public discussions on the platform of the joint sittings initiated by the Standing Committee on Financial-Credit and Budgetary Affairs and, if necessary, with the profile Head Committees. On June 15, at the regular sitting of the RA National Assembly, the co-rapporteur, the Chairman of the Audit Chamber Atom Janjughazyan said this presenting the conclusion of the Central Bank on the annual report on the RA state budget 2022 execution.

According to the results of the audit, the Audit Chamber came to a positive opinion because it received sufficient relevant information from the audited bodies and the financial reports are free from significant distortions in all respects.

According to the rapporteur, 113 discrepancies were recorded as a result of the audits carried out in 10 state bodies: not all of them resulted in distortions in the financial statements. The Chairman of the Audit Chamber presented details of the definitions given regarding inconsistencies and distortions. According to him, the inconsistencies are the differences from the requirements defined in the framework of the legal regulations and in the cases when it refers to the civil and legal relations, and the distortions are the cases when different results from the established procedures for financial operations were recorded in the financial reports.

Summing up, Atom Janjughazyan expressed gratitude to the NA Standing Committee on Financial-Credit and Budgetary Affairs, which, chaired by Gevorg Papoyan and in cooperation with other Standing Committees, consistently creates demand for both the Audit Chamber and state bodies.

In his related speech, the Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan, touching upon the raised questions, stated that the country’s economy has recorded significant qualitative progress in terms of branch diversification compared to 2008.

According to Gevorg Papoyan, the volume of foreign direct investments in 2021 was only 366 million dollars, that is, the volume of investments in 2022 increased by 2.7 times or 632 million dollars. It was noted that foreign direct investments in 2017, which caused great excitement among the circles of the former authorities amounted to 253 million dollars, in 2022 these investments are about 4 times more.

Gevorg Papoyan also touched upon the NA supervisory mechanisms and the work performed regarding the state budget. It was mentioned that according to the Chairman of the Audit Chamber Atom Janjughazyan, the Standing Committee on Financial-Credit and Budgetary Affairs and other Standing Committees focus on increasing the effectiveness of state budget spending.

In 2022, instead of the 7% forecast by the state budget, 12.6% economic growth was recorded. Except from agriculture, an increase in added value was recorded in all branches of the economy.

Gevorg Papoyan stated that in the financial period, compared to the previous year, the real volumes of exports of goods and services increased by 54.4%, the negative balance of goods and services in dollars was 2.1% of the GDP, the improvement compared to the previous year is 5.8 percentage.

In conditions of high economic activity, unemployment decreased, employment and salaries increased.

Cost performance was 98% against the specified plan and 103% against the approved plan.

Instead of a neutral fiscal policy, the Government implemented a restraining policy, under which conditions it was possible to ensure a reduction of the state budget deficit compared to the GDP.

Gevorg Papoyan also touched upon a number of other result indices.

The Chair of the Standing Committee also presented in detail the work and numerical indices in other areas, stating that the plans and commitments provided for in the budget were almost completely fulfilled.

He also answered the deputies’ questions.

The Chair of the Standing Committee on Defense and Security Andranik Kocharyan made a related report. He presented details to the parliamentarians from the closed parts of the joint sitting of the Committees.

The Committee Chair confirmed that during the debates of the budget performance, the Heads of the security agencies touched upon such important topics that concern the society.

Andranik Kocharyan also referred to the question raised by deputy of the Civil Contract Faction Lusine Badalyan, which were about the proposals made by Armenian scientists regarding the RA military industry. The deputy stated that the solution to the problem is close, it will allow to have a safer state.