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On November 1, at the joint sitting of the NA Standing Committees on Economic Affairs and on Financial-Credit and Budgetary Affairs moderated by Babken Tunyan and Gevorg Papoyan the preliminary programmes and financial allocations of the sphere of economy of the draft law on the RA State Budget for 2023 were debated.

The RA Minister of Finance Tigran Khachatryan presented the digital data of the draft.

64.912.6 billion AMD is designed to allocate to the Ministry of Economy in 2023, including the expenditures of the administration staff maintenance. The means to be allocated will be directed to the implementation of 57 measures of 11 programmes.

The Minister of Economy highlighted the modernization programme of the economy. It already works well and by September more than 320 companies have become a benefactor of the programme.

“Hundreds of other companies negotiate now to make use of this programme and increase the productivity. This programme will be one of the important ones for the next year and will let to make and sell more products. The next component of the programme, which is f no use, but has many bids, is the rent subsidy of the specialists with high qualification by the Government for local companies. We envisage the involvement of 218 specialists from the Armenian companies for the next year,” Vahan Kerobyan noted. According to the Minister, 4 billion AMD will be directed to the financing of the investments.

As the RA Minister of Economy Vahan Kerobyan assured, 93.755 million AMD had been designed for 2023 on the Project Standard Elaboration and Development of Accreditation System.

The purpose of the project is to support the increase of the export volume of the local product, to give opportunity the local producers to provide the demands set out by technical statutes and produce goods competitive in the international market.

9 billion 967 million AMD was designed for 2023 on the Project ‘Support to Knowledge-Based Innovative Economy and Small and Medium Entrepreneurship.”

The goal is the support to the digitalization of economy, the introduction of the innovative electronic management systems, the knowledge-based business and the small and medium entrepreneurship

According to the Minister, the implementation of the designed projects will give an opportunity to provide the envisaged 7 percent economic growth.

In 2023, 7.66 million AMD will be allocated to tourism. Vahan Kerobyan noted that in current year about 1.24 million tourists visited Armenia. The main problem, according to the Minister, is that in summer the percentage is high, and in winter – low. Work is done to fill in the gap in the winter months. 370 million AMD was designed for public awareness.

The question of the NA Vice President Hakob Arshakyan related to the development of viticulture, the expansion of the wine export market to the Asian countries. Vahan Kerobyan answered that this year the grape harvesting process has already finished, though the price was only 120 AMD. It was also noted that the Ministry has three targets: to find place in the markets of the US, the RF and Great Britain and get strengthened, as in these countries the wine consumption is of high percentage. The minister also highlighted the need of expansion executive body-parliamentary diplomacy collaboration.

The NA Vice President Hakob Arshakyan also stressed the importance of science-viticulture cooperation, which will give an opportunity to raise the efficiency of wine making, to promote the general development of the economy.

Answering to the question of the NA deputy Hovik Aghazaryan, referring to the private business financing, the Minister emphasized the rise of the productivity of the country’s economy, providing the companies with modern equipment, as well as the system digitalization.