Tuesday, June 19 2018 11:37

ArmInfo.Atom Janjughazyan, the Minister of Finance of Armenia, on June 19 received the delegation of the German Society for International Cooperation (GIZ), headed by the  head of the Armenian Mission, Anne Dorit Kempa. First Deputy Finance  Minister Karen Brutyan also attended the meeting.

As the press service of the Armenian Ministry of Finance informs, the  parties discussed issues related to the regional program "Public  Finance Management in the South Caucasus". The interlocutors stressed  the importance of the effectiveness, accountability and transparency  of public financial management systems.

Atom Janjughazyan highly appreciated the assistance of the German  Society for International Cooperation (GIZ) in the implementation of  program budgeting. According to him, it is thanks to this assistance  that the state budget of Armenia in 2019 will be submitted to the  parliament of the country in the format of program-targeted  budgeting. Karen Brutyan, in turn, noted that cooperation with GIZ  will ensure the full implementation of program budgeting in Armenia.

Previously, ArmInfo reported that the EU will support Armenia in the  effective management of public finances. On September 19, 2017, the  closing ceremony of the EU co-financed program "Strengthening,  Efficiency and Transparency of the External Audit System in Armenia"  and the launch of the "Public Finance Management in the South  Caucasus in 2017-2020" program was held in Yerevan. The goal of the  program is to bring the infrastructure in the field of public finance  in line with European and international standards, helping to  increase their effectiveness and accountability. According to the  information of the Ministry of Finance of Armenia, "Public Finance  Management in the South Caucasus for 2017-2020", implemented by the  German Society for International Cooperation (GIZ), replaces the  previously launched program to ensure transparency, efficiency and  independence of the external audit system. Earlier, in December 2016,  the European Union agreed to allocate to Armenia 880,000 EUR  (458,576,800 AMD) for a program to ensure transparency, efficiency  and independence of the external audit system.