State budget revenues to exceed expenditures for the first time in Artsakh – finance minister

Finance minister of the Republic of Artsakh Artur Harutyunyan announced during the working consultation convened by the President of Artsakh that the state budget revenues will exceed the expenditures for the first time in Artsakh.

“We have introduced the 2019 state budget draft to the President, according to which the money in terms of revenues will comprise 112 billion 300 million AMD, and that of the expenditures – nearly 111 billion AMD”, the minister said.

He added that the budget proficit (surpass of revenues over expenditures) comprised 1.3 billion AMD which is unprecedented for the Artsakh Republic.

“We have an increase of expenditures mainly in capital investments – nearly 1.6 billion AMD, healthcare sector – about 770 million AMD and social protection field – 480 million AMD. The expenditures on capital investments will be mainly directed for the economic development, as well as for the implementation of construction programs of several objects with social significance. The increase of expenditures in the healthcare sector is mainly linked with the nearly 15% increase of salaries of the medical staff, as well as with the implementation of several programs. The increase of expenditures in the social sector is conditioned with the introduction of the accumulative pension system in Artsakh from January 1, 2019, connected with the additional revenues paid by the state”, the minister noted.