In 2024, the budget of the Ministry of Economy will amount to 92 billion 227 million 201 thousand AMD, which has increased by about 47% compared to 2023. This was stated by the Minister of Economy Vahan Kerobyan, who presented the financial allocations and the budget programmes of the RA Ministry of Economy provided by the draft law on the RA State Budget for 2024 at the joint sitting of the NA Standing Committees on Economic Affairs and on Financial-Credit and Budgetary Affairs.
“We continue our policy aimed at optimizing the staff and try to attract more high-quality personnel to the system,” the Minister underlined.
According to the rapporteur, the money allocated for economic research and analysis has increased by 200 million AMD. “This is a budget to engage in additional consulting services”.
It was noted that 1 billion AMD will be allocated for the modernization of the quality infrastructure system: New laboratories are planned.
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The budget for the development of small and medium enterprises will amount to 20 billion 433 million AMD in 2024, which is twice as much as compared to the previous year.
With the support of the World Bank, it is planned to allocate 100 million AMD for the commercialization of technologies and infrastructure development.
Speaking about the attraction of investments, the Minister noted that the accumulation of gross investments in the first half of the year was about 27% more than in the same period last year.
It was noted that the financing of the measures planned by the strategy of industrial policy aimed at export increased from 300 million AMD to 577 million AMD.
The Minister also referred to the state support programme for the production of economically complex products, talked about increasing financial allocations for tourism. It was noted that a new tourism infrastructure development programme will be launched in 2024, under which the development programme of 20 tourism clusters mentioned in the Government’s plan is planned to be implemented.
According to Vahan Kerobyan, 1 million 850.000 tourists came to Armenia in the first nine months. “We are currently conducting a study at the border points of Armenia and according to preliminary data, one tourist spends about 1.200 USD in our country.”
The Minister answered the deputies’ questions, detailing a number of programmes and measures to be implemented in the draft budget for the coming year.
National Assembly of the Republic of Armenia