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NEWS » Economy » Armenian parliament discussing 2023 budget allocations
Economy

Armenian parliament discussing 2023 budget allocations

01.11.2022, 11:56
Armenia's draft budget for 2033 being discussed in parliament has earmarked 35 billion 544 million drams for the State Revenue Committee, up from 29 billion 462 million drams, allocated for the current year and from 27 billion 853.7 million drams allocated in 2021, Finance Minister Tigran Khachatryan told parliament today.
Armenian parliament discussing 2023 budget allocations

YEREVAN, November 1. /ARKA/. Armenia's draft budget for 2033 being discussed in parliament has earmarked 35 billion 544 million drams for the State Revenue Committee, up from 29 billion 462 million drams, allocated for the current year and from 27 billion 853.7 million drams allocated in 2021, Finance Minister Tigran Khachatryan told parliament today.

He said the projected allocation for the Economy Ministry is 64 billion 912 million drams. The minister recalled that the original budget of the ministry in 2022 was 42 billion 210 million drams, but after adjustments it has been increased to 61 billion 375 million drams. In 2021 the actual financing of the ministry was 43 billion 390 million drams.

The Ministry of Territorial Administration and Infrastructures, the main body responsible for investment in economic infrastructures, will get 298 million 627 million drams.

"This is about 30 billion drams more compared to the 2022 adjusted budget (268 billion 296 million drams). The ministry's actual spending in 2021 was 201 billion. 373 million drams," Khachatryan said.

The allocation for the Ministry of High-Tech Industry is 14 billion 495 million drams, down from 20 billion 231.2 million drams approved by the adjusted budget of 2022. In 2021, its budget was 6 billion 611 million drams.

The Public Services Regulatory Commission (PSRC) budget request for 2023 is 1 billion 109 million versus 995 million in 2022. In 2021, its budget was 832 million 740,000 drams.

The budget funding for the State Commission for Protection of Economic Competition is projected at 595 million drams, against 558 million drams in 2022 and 544 million drams in 2021.

The Cadastre Committee's budget in 2023 is to be 4 billion 418 million drams, down from 4.813 million drams in 2022 and 3.935 million drams in 2021.

The Urban Development Committee will get 2 bln 30 million drams, against 2.77 million drams in the current year, but up from 1 billion 238 million drams in 2021.

The draft budget for 2023 calls for 2, 3 trillion drams in revenue and 2.59 trillion drams in spending. The deficit is expected to be 289bln drams.

The projected growth for 2023 is 7%. The Central Bank of Armenia expects the country's economy to grow by about 4.5% in 2023. ($1 - 395.4 drams) --0--

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