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The draft budget of the coming year singles out with several features. It reflects forecasts for the coming period, which has not been typical of the draft budgets presented so far. The Chair of the RA NA Standing Committee on Standing Committee on Financial-Credit and Budgetary Affairs Tsovinar Vardanyan said this at the NA regular sitting of November 12. The Committee Chair gave a related speech on the draft law on State Budget of the Republic of Armenia 2025. As she informed, from October 28 during the joint sittings of the NA Standing Committees, the draft state budget was debated, and the deputies, including the opposition MPs raised the issues concerning them and presented observations.

“5.6 percent economic growth is predicted for 2025, and 5.5 percent on average in 2026-2027. Let me note that in the predicted scenario in 2021-2026, economic growth on average is 7.3 percent, which is slightly higher than the government’s target of 7 percent economic growth. Thus, such a version of the presentation allows the legislature to have a more predictable budget and assess the situation in the big picture,” the Committee Chair particularly said, afterwards referring to the articles of the draft.

Tsovinar Vardanyan informed that the NA Standing Committee on Financial-Credit and Budgetary Affairs endorsed the draft law on State Budget of the Republic of Armenia 2025.

The Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan gave a related speech on the issue. According to him, the draft state budget for the coming year is rather a balanced draft aimed at solving the problems outlined in the Government’s programme for 2021-2026. “I would like to mention that the RA State Budget of the coming year was drafted by clearly preserving the tax-budgetary rules. That is: the designing capital expenditures next year exceed our budget deficit. This means that we are more aimed at creating bases of long-term stable growth,” he underscored.

The debate of the issue will continue on November 13.