ArmInfo. The Parliament of the Republic of Artsakh, following discussions in the standing commissions of the legislative body, approved the "Budget-2018". Presenting the document, the Minister of Finance of the Republic Grigory Martirosyan noted that at the second stage of the discussions 32 proposals amounting to 4.8 billion AMD were submitted.
As a result, the state budget of the Republic of Artsakh for 2018 in terms of revenues will amount to 96 billion 428 million AMD, and in terms of expenditures - 101 billion 538 million AMD, the deficit will make 5 billion 110 million AMD. Next year the highest share is envisaged in the agricultural sector, the energy sector and the processing industry.
Earlier, on December 14, December 14, in the Artsakh National Assembly, presenting the draft law of the Republic of Artsakh "On the state budget of the Republic of Artsakh for 2018", the Minister of Finance of the Artsakh Republic Grigory Martirosyan noted that he was drafted taking into account the main provisions of the program of the President of the Republic of Artsakh on 2017-2020 with the aim to provide the basis for stable economic growth, development of priority sectors of the economy, and the formation of a favorable business environment.
Referring to the economic growth for 2017, the Minister stressed that the current economic environment, as well as the economic development trends, allow to expect higher economic growth rates than forecasted in the medium-term expenditure program for 2018-2020. According to expectations, it will be about 15%, which is the highest in the last ten years. The growth is due to the increase in the added value of the mining industry and other branches of material production.
The Minister added that in 2018 the budget policy to be implemented will be characterized by budgetary solutions that provide an average 8 percent economic growth in the future. Thus, next year the volume of GDP is projected at a rate of 291 billion drams, thus ensuring real growth of 8 percent. The sectoral structure of economic growth will be preserved, which is due to the increase in the volume of production envisaged for the next year, primarily in the mining sector by about 40 percent and forecasting world prices for copper. The inflation rate is predicted to be within 4 percent.