ArmInfo. Armenia's Finance Minister Vahe Hovhannisyan assures that the sad tradition of underperforming capital expenditures has come to an end.
So, on April 27, at a meeting of the Cabinet of Ministers, touching on capital expenditures, the head of the Ministry of Finance recalled that in 2021 the volume of capital expenditures reached 216 billion drams.
The Prime Minister, in turn, noted that capital expenditures should be accomplished as quickly as possible, with the highest quality and efficiency.
Earlier, experts from the Luys Foundation noted that the underperformance of capital expenditures in Armenia has become a sad tradition. Among the reasons for underperformance, experts pointed out the planning of often unrealistic indicators in the state budget (or, at least, insufficiently substantiated from the point of view of execution). Moreover, as noted, this observation is relevant both for state budgets of past years, and in the case of the main financial document for 2023. "It seems that just to make the budget "pleasing to the ear," at first, it included unrealistic indicators, and then during the year, the government does not take enough practical steps to implement them," the study said.
