Prime Minister Nikol Pashinyan chaired the regular Cabinet meeting today.
By the decision of the Government, changes and additions were made to the Law of the Republic of Armenia “On the State Budget of the Republic of Armenia – 2023” and the decision No. 2111 of the Government of the Republic of Armenia of December 29, 2022.
Minister of Finance Vahe Hovanisyan noted that the adoption of the draft decision is due to the overachievement of budget revenues based on the results of the first half of 2023, which exceeded the plan for the first half by about 50 billion AMD. As a result, the reserve fund is replenished by 10 billion AMD due to the increase of the tax revenues. “Let me note that before this, with 10 decisions, our plan had already increased by around 7.5 billion AMD, the main part of which, approximately 6.5 billion AMD, was allocated to Nagorno Karabakh,” said Vahe Hovhannisyan.
Prime Minister Nikol Pashinyan also referred to an important decision made in the previous Cabinet meeting, which is related to the development of the capital market, reminding that a special place is given to the development of the capital market in both the 2018 Action Plan and the 2021 Action Plan of the government.
Read also
The Prime Minister assured that in the steps aimed at giving a new impetus to the economic development of Armenia since 2018, the development of the capital market can become the new component that will not only become a new stimulus for economic development, but also a new mechanism of social protection of people.
According to Deputy Prime Minister Mher Grigoryan, the risks of our country, according to the assessment of leading international rating companies, are such that it is very attractive for investments, but due to the lack of tools, this flow is not realized. According to the Deputy Prime Minister, the promotion of stock exchange trade is also a platform for very serious diversified foreign investments.
The Prime Minister clarified that these mechanisms are very important, because when a large foreign investor acquires a bond of the Armenian government, it is, first of all, a confidence in the government and the country.
