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On September 19, in Yerevan by the EU co-financing the closing ceremony of the project Strengthening of Independence, Effectiveness and Transparency of the Armenian External Audit System was held and the project Public Finance Management (PFM) in the South Caucasus in 2017-2020 was launched.

The Chair of the RA NA Standing Committee on Financial-Credit and Budgetary Affairs Gagik Minasyan, the RA Minister of Finance Vardan Aramyan, the RA NA Chief of Staff-Secretary General Ara Saghatelyan, the First Deputy Chairman of the State Revenue Committee adjunct to the RA Government Karen Brutyan, The Deputy Chairman of the RA Control Chamber Ara Nranyan, The Head of the Armenian Office of the German Federal Ministry for Economic Cooperation and Development/the Deutsche Gesellschaft für Internationale Zusammenarbeit (BMZ/GIZ) Anne Kempa, the Head of the Project Public Finance Management in the South Caucasus Peter Dineiger and the Coordinator-Expert of the RA NA Budget Office Gagik Barseghyan signed a Memorandum of Understanding.

The RA NA deputy Mane Tandilyan also attended the signing of the Memorandum.

The Chair of the RA NA Standing Committee on Financial-Credit and Budgetary Affairs Gagik Minasyan, the RA Minister of Finance Vardan Aramyan, the RA NA Chief of Staff-Secretary General Ara Saghatelyan, the First Deputy Chairman of the State Revenue Committee adjunct to the RA Government Karen Brutyan, The Deputy Chairman of the RA Control Chamber Ara Nranyan, The Head of the Armenian Office of the German Federal Ministry for Economic Cooperation and Development/the Deutsche Gesellschaft für Internationale Zusammenarbeit (BMZ/GIZ) Anne Kempa, the Head of the Project Public Finance Management in the South Caucasus Peter Dineiger and the Coordinator-Expert of the RA NA Budget Office Gagik Barseghyan signed a Memorandum of Understanding.

The RA NA deputy Mane Tandilyan also attended the signing of the Memorandum.

It has been noted that the EU assistance to the project Strengthening of Independence, Effectiveness and Transparency of the Armenian External Audit System is 880.000 Euros. In terms of legal system the targets and the main processes of the CC audit have been strengthened in accordance with INTOSAI standards and European best experience.

Highlighting the signing of the Memorandum of Understanding the Head of the Project Public Finance Management in the South Caucasus Peter Dineiger noted that it would become a cornerstone of new cooperation.

During recent years the Government of Armenia achieved serious successes in the system of finance management. Peter Dineiger has stated that the finance collecting sphere has been reformed, the transparency and accountability in the sphere of state expenditures has been raised and has added that the RA Government has fiscal base and can provide the Armenia's strategy development in 2017-2022.

Peter Dineiger also expressed confidence that by joint cooperation all designed tasks and projects will be effectively implemented.

Emphasizing the cooperation with the GIZ, the Chair of the RA NA Standing Committee on Financial-Credit and Budgetary Affairs Gagik Minasyan noted that during the last years the GIZ implemented numerous wide scale and effective projects, which promoted the development of Armenia.

Gagik Minasyan assessed the cooperation between the parliament and the GIZ effective and productive and highlighted the GIZ experts' participation to the works of the elaboration of the RA Law on Audit Chamber.

The Chair of the RA NA Standing Committee on Financial-Credit and Budgetary Affairs has noted that the cooperation with the GIZ is continuous, and the results will be tangible in future.

The speakers also emphasized the launch of the Public Finance Management in the South Caucasus in 2017-2020 and its purposeful implementation, which will promote the compliance of the public finance management system to European standards and the development of our country.