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9.12.2022

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09.12.2022
RA Deputy Minister of Finance Vahe Hovhannisyan: The public debt management is in a reliable and non-risky situation
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The loan agreement between the Republic of Armenia and the French Development Agency, amounting to 100 million EUR, was signed on November 17, 2022 within the framework of the budget support program. It will be provided in two tranches. The budget support funds will be used to finance the deficit defined by the RA Law on the RA State Budget for 2022. So, the timely receipt of loan funds is of great importance from the point of view of financing the expenditures provided by the categories of the state budget.

The draft law on Ratifying the loan agreement No. CAM 1016 01 between the Republic of Armenia and the French Development Agency signed on November 17, 2022 was debated at the RA NA extraordinary sitting on December 9.

The RA Deputy Minister of Finance Vahe Hovhannisyan informed that the Government has the opportunity to choose whether the loan will be attracted with a fixed or floating interest rate. The fixed interest rate is 3.87%. The duration of the loan period is 20 years and the grace period is 5 years.

According to Vahe Hovhannisyan, the loan funds of the budget support program are aimed at such important reforms as capital investments and institutional reforms, which will contribute to the improvement of the future management system and financial markets, which, in turn, will contribute to the development of economic growth. The reforms provide that the Government should plan its expenditures based on strategic priorities.

Referring to the steps aimed at increasing the spending efficiency of the budget, the key rapporteur noted that a Budget Committee was formed. It will also discuss the shortfalls and causes of capital expenditures on a quarterly basis.

Speaking about the capital expenditure shortfalls, Vahe Hovhannisyan noted that according to the index of December 1 of this year, compared to the previous year, an improvement was registered in terms of percentage.

At the request of MP Tadevos Avetisyan, Vahe Hovhannisyan referred to the risks of floating interest rates. “We can fix any loan with a floating interest rate, it just incurs additional expenditures.”

Arusyak Julhakyan presented the endorsement of the NA Standing Committee on Financial-Credit and Budgetary Affairs related to the draft.

In his final speech, the RA Deputy Minister of Finance Vahe Hovhannisyan, referring to the RA public debt, noted that the public debt management is in a reliable and non-risky situation.

On December 9, at the extraordinary sitting, the Parliament adopted the draft law by voting.


09.12.2022
Government Proposes to Redistribute Financial Allocations Planned by RA State Budget for 2022
Taking into consideration the necessity of the redistributions of the financial allocations planned by the RA State Budget for 2022, the Government proposes to make the 3% limit established by law 5%. At December 9 NA extraordinary sitting, presenting the draft law on Making Addendum to the law on t...

09.12.2022
It is Proposed to Postpone Term for Introduction of Criminal Electronic Institution Regarding Intra-Judicial Proceedings by One Year
The RA NA deputy Vladimir Vardanyan authored the legislative initiative to make amendments to the Criminal Procedure Code of the Republic of Armenia. On December 9, the proposals were debated at the NA extraordinary sitting. According to the Chair of the Standing Committee on State and Legal Affairs...

09.12.2022
It is Proposed to Increase Tax Burden of Gambling Sphere by Legislative Initiative
It is proposed with the legislative initiative to increase the tax burden of the gambling sphere (online gambling games and totalizers, internet totalizer). The organization of the online gambling games and lotteries under current legislation is considered a kind of activity subject to licensing, fo...

09.12.2022
RA Deputy Minister of Justice: According to the legislative changes, the RA Ministry of Internal Affairs will be formed in the near future
It is proposed to establish the Ministry of Internal Affairs with the package of drafts on Making Amendments and Addenda to the Law on Structure and Activities of the Government and the related ones. The RA Deputy Minister of Justice Arpine Sargsyan noted that the Ministry of Emergency Situations wi...

09.12.2022
Parliamentary Briefings to Be Held
On December 12, the parliamentary briefings following the NA regular sittings will be held in the NA hall 334 with the foll...

09.12.2022
Legislative Inconsistency is Removed by Draft Law
The parliament debated the draft law on Making Addenda to the law on Remuneration of the Persons Holding State Positions and State Service Positions.The RA Deputy Minister of Justice Armenuhi Harutyunyan noted that as a result of the adoption of the addenda, the approach of providing addition in the...

09.12.2022
Legislative Package Debated at NA Extraordinary Sitting: Local Duty to Be Set Also Extending the Terms of Permission for Construction
It is proposed to raise the rates of the local duty stipulated to provide permissions, also to set for extending the terms of the construction permission. Presenting the package of draft laws on Making Amendments and Addenda to the Tax Code of the Republic of Armenia, the RA Deputy Minister of Finan...

09.12.2022
Committee Debates in the Second Reading Proposing Addendum to the Constitutional Law on Parties
At December 9 extraordinary sitting of the NA Standing Committee on State and Legal Affairs the draft law envisaging addendum to the constitutional law on Making Addenda and Amendments to the Constitutional on Parties was debated in the second reading.According to the RA Deputy Minister of Justice A...

09.12.2022
It is Proposed to Extend Providing State Assistance in the Form of Tax Privilege to IT Sphere for 1 More Year
It is proposed to extend providing state assistance in the form of the tax privilege for 1 more year until including December 31, 2023. The Deputy Minister of High-Tech Industry Davit Sahakyan, presenting the legislative package on Making Amendments and Addendum to the law on State Assistance of the...

09.12.2022
Ruben Rubinyan Receives Ambassador of France to Republic of Armenia
On December 9, the Vice President of the Republic of Armenia Ruben Rubinyan received the Ambassador Extraordinary and Plenipotentiary of the French Republic to the Republic of Armenia Anne Louyot. At the Ambassador’s request, the NA Vice President presented the current state of the process of normal...

09.12.2022
Eduard Aghajanyan Meets with Newly Appointed Ambassador of Algeria to Armenia
On December 9, the Chair of the RA NA Standing Committee on Foreign Relations Eduard Aghajanyan met with the Ambassador Extraordinary and Plenipotentiary of the People's Democratic Republic of Algeria to Armenia Smail Benamara. ...

09.12.2022
Salaries Through Certification to Be Increased in Security Bodies
It is proposed by the package of draft laws to separate State Guard Service from the system of the National Security Service bodies and continue its further activity as a body of the state administration system subordinate to the Prime Minister. The RA Secretary of the Security Council Armen Grigory...

09.12.2022
NA Vice President Hakob Arshakyan Gives a Speech in the Silicon Mountains Technological International Summit 2022
On December 9, in Mesrop Mashtots Institute of Ancient Manuscripts of Yerevan the year-end wrap-up Silicon Mountains Tech International Summit 2022 organized by the Union of Employers’ Information and Communication Technologies (UEICT), where the RA NA Vice President Hakob Arshakyan took part.In his...

09.12.2022
RA Deputy Minister of Justice: According to the legislative initiative, issues related to the provision of targeted state funding to the parties will be regulated
According to the RA Deputy Minister of Justice Armenuhi Harutyunyan, the adoption of the draft law on Making Addendum to the Constitutional Law on Making Addenda and Amendments to the Constitutional Law on Parties is due to the requirement of clarification of legal regulations related to the existin...

09.12.2022
Parliament Convenes Extraordinary Sitting
On the initiative of the Government, the National Assembly convened an extraordinary sitting on December 9, according to the agenda set by the initiator. At the initiator’s suggestion and by the decision of the Government, some agenda items will be debated in the second reading after their adoption ...

09.12.2022
Alen Simonyan Receives Newly Appointed Ambassador of Algeria to Armenia Smail Benamara
On December 9, the RA NA President Alen Simonyan received the Ambassador Extraordinary and Plenipotentiary of the People's Democratic Republic of Algeria to the Republic of Armenia Smail Benamara. Congratulating the Ambassador’s tenure in Armenia, the RA NA President expressed hope that the Ambassad...



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