Thursday, December 14 2017 12:17

ArmInfo. The National Assembly of Armenia at its extraordinary meeting on December 14 in the second and final reading made a law on the budget system and a package of accompanying laws.

According to Deputy Minister of Finance of the Republic of Armenia Atom Janjugazyan, since 2019 the draft state budget will be presented in the format of program budgeting. He noted that the responsibility for the implementation of each individual budget program will be borne by the appropriate authority. When implementing long-term programs in the package on the state budget, information will also be presented in which the detailed characteristics of these projects should be presented. In particular, it is about the timing of the implementation of budget programs, their impact on the state budget, and expectations for the next few years. Another change, according to the deputy minister, concerns accounts of state non-profit organizations in commercial banks of the country. The bill, he continued, suggests moving these accounts from commercial banks to the accounts of the State Treasury.