DRAFT STATE BUDGET OF NAGORNO-KARABAKH FOR 2012 TO BE DISCUSSED IN THE PARLIAMENT

/ARKA/
DECEMBER 6, 2011
STEPANAKERT

STEPANAKERT, December 6. /ARKA/. Parliament hearings of draft state
budget of Nagorno-Karabakh Republic (NKR) for 2012 starts on December
6 according to the defined schedule, press-service of the parliament
informed on Monday by the results of the meeting of standing committees
of NKR where officially NKR draft state budget for the next year
was introduced.

NKR Vice-Premier, Finance Minister Spartak Tevosyan said that budget
deficit for 2012 will be 5 billion 216 million 427.6 thousand drams.

“The revenue part of the state budget is 65 billion 103 million 572.4
thousand drams, including annually received interstate credit from
Armenia, and expenditure part – 70 billion 320 million drams”, he said.

In 2012, economic growth by 9% is provided. He said that budget policy
of 2010 is targeted at the creation of favorable environment for the
economy of the country and provision of stable development.

Tevosyan said that despite unfavorable development of world economy,
in 2012 NKR expects GDP growth by 9%. “All the envisaged financial
flows will be provided and the approved state priority programs
implemented”, he said.

NKR Premier Ara Harutyunyan introduced parliament members the
principles of development of the draft state budget for the next year,
its main directions and development priorities in 2012, prospects of
socio-economic progress.

Speaker of NKR parliament Ashot Ghulyan, NKR government members and
the ministers were present in the meeting.

From: Emil Lazarian | Ararat NewsPress