Narek Karapetyan outlines priorities when selecting parliamentary  committees

ArmInfo.Armenia's state budget deficit has reached a critical level of $1.4 billion,  creating an urgent need to oversee the resources raised to cover it. 

According to Narek Karapetyan, head of the opposition faction Strong  Armenia, this financial strain dictates the faction's decision to  take charge of the National Assembly's  Standing Committee on  Financial, Budgetary, and Credit Affairs.

Speaking to journalists on August 10, Karapetyan noted that credit  resources are currently being drawn at a rate of approximately $120  million monthly, making rigorous budget oversight essential to  prevent such massive deficits.

Addressing the decision to head the Standing Committee on European  Integration, Karapetyan emphasized the vital importance of deepening  relations with the European Union to foster economic growth and boost  trade turnover. He also pointed to valuable EU governance tools—such  as judicial systems—that Armenia could benefit from adopting,  alongside strengthening civil society institutions modeled after  European standards.

Commenting on the territorial administration portfolio the faction  will assume, Karapetyan highlighted recurring issues with affiliated  transactions in public procurement, noting that these linked entities  frequently operate outside the private sector.