ArmInfo.The solution to the problems of forcibly displaced persons from Nagorno-Karabakh is not reflected in the draft state budget of Armenia for 2024, Armenia's Minister of Finance Vahe Hovhannisyan stated at a meeting of the Committee on Finance and Budget, RA Parliament.
According to the minister, this is due to the Cabinet of Ministers' approval of the draft state budget at the end of September this year, after which the influx of refugees began. In the remaining days it was not possible to make appropriate amendments to the law. The minister gave assurances that by the second reading at the plenary session of parliament, this omission will be taken into account, and additional allocations will be provided for in the document.
Hovhannisyan emphasized that issues related to the payment of pensions and benefits for forcibly displaced persons will certainly be reflected in the basic economic law of the country. This, as the minister noted, will lead to an increase in pension payments by approximately 30 billion drams. A corresponding decision will be approved at a government meeting tomorrow.
Hovhannisyan also said that next year it is planned to carry out work on retraining refugees, as well as assistance programs for their employment. These projects are currently under development. And if by the time the draft state budget is adopted, the government does not have time to approve these assistance programs, then the funds will be provided in the Reserve Fund of the Cabinet of Ministers.
According to the bill, in 2024 the economic growth rate is planned at a level of at least 7%. State treasury revenues are provided at AMD 2,566bln, which is 15.4% higher than the plan for 2023, and expenses - AMD 3,017bln, or 15.9% higher. Among expenses, capital expenditures will amount to AMD 695bln, or 22% more than the plan for 2023. At the end of next year, the tax-to-GDP ratio is planned to increase by 0.75%.
The budget deficit will be about AMD 340bln or 3.2% of GDP. As a result, by the end of 2024, the government's public debt to GDP ratio will be 48.4%, that is, below 50%.
