ArmInfo. In 2024, it is planned to significantly increase the Reserve Fund of Armenia's government, RA Minister of Finance Vahe Hovhannisyan stated on December 6 at parliamentary hearings on the final version of the country's draft state budget for next year.
He noted that the size of the Reserve Fund will be AMD186bln. The minister denied the prevailing opinion among opposition parliamentarians that by doing so the Cabinet of Ministers was practically freezing significant financial resources. In the original version, the size of the Reserve Fund was AMD 94bln, but taking into account the needs of internally displaced persons from Nagorno-Karabakh, this amount was increased.
A total of AMD 47bln will be allocated to solve this problem. The same new programs that will be developed during the implementation of the draft state budget will be financed from the Reserve Fund.
The minister also touched upon the topic of public debt, which will increase slightly compared to the original version. Despite the increase in the state budget deficit by 1.4% in the country's GDP, which increased from 3.2% to 4.6%, however, this does not mean an increase in public debt.
Compared to the original option, defense spending will decrease by 0.3%, which is due to numerous circumstances, including the fact that defense revenues are growing faster than expenses.
