Wednesday, November 27 2019 19:15

ArmInfo. Budget allocations for the agricultural sector of the Republic of Artsakh in 2020, compared to the current year, will increase by 210 million 949 thousand drams  - up to 5 billion 493 million 219 thousand drams. This was stated by  Artsakh Minister of Agriculture Zhirair Mirzoyan on November 27 in  the standing commissions and factions of the parliament of the  republic presenting the draft law "On the state budget of the  Republic of Artsakh for 2020."

According to the Minister of Urban Development Karen Shahramanyan,  capital expenditures of the urban development field next year will  increase from the current 19bln 086mln drams to 19bln 840mln drams.   Capital expenditures by the end of this year reached 22 billion 800  million drams.

The cost of maintaining the Artsakh Ministry of Economy and  Industrial Infrastructures, according to the head of the department  Levon Grigoryan, in 2020 will make 590 million 225 thousand drams.  But next year, according to the Minister of Nature Protection and  Natural Resources Felix Gabrielyan, 201 million 712 thousand drams  will be allocated to cover the expenses of the environmental  protection authorities.

The expenses of the State Commission for Regulation of Public  Services and Economic Competition will increase by 2 million 283  thousand drams - up to 203 million 663 thousand drams. The budgetary  allocations of the "Village and Agriculture Support"  fund will  amount to 1 billion 500 million drams.  Artsakh Investment Fund to  receive 4 billion drams from state treasury.

Earlier, Minister of Finance Artur Harutyunyan, introducing the draft  law "On the State Budget of the Artsakh Republic for 2020" at the  National Assembly of the country, said that the budget policy of 2020  will be aimed at stimulating economic growth and gradually increasing  the growth potential in the economy. According to him, the  development of macroeconomic indicators in 2019, in particular, the  economic growth of 10.4% recorded for the first nine months, allows  us to expect a higher rate of economic growth than was planned by the  draft state budget for 2019. So, in 2020, the gross domestic product  (GDP) will be 375.6 billion drams, which will provide 8% real growth,  inflation will be about 3%. Next year's incomes will make 120 billion  906.5 million drams, expenses - 120 billion 775.6 million. The  surplus will be 130.9 million drams, which will be used to repay  previously borrowed funds. In 2020, compared with the previous year,  the state budget's own revenues will decrease by 2.6 billion drams,  amounting to 55.1 billion drams. The decline, according to the  minister, is due to a decrease in tax revenues from the mining  industry, the main reason for which is the tendency for lower  international prices for copper and the content of copper in ore.  Expenditures will make 120 billion 775.6 million drams, which is 6.4  billion drams more than planned expenses for the current year.

According to the Minister of Finance, the amount allocated to the  social sector will increase, which is due to the increase in pensions  from January 1, 2020. The size of the basic pension will be 18,000  thousand drams, instead of 16,000 thousand drams in 2019. It is also  envisaged to increase the minimum monthly wage, which will be 68,000  thousand drams, instead of 55,000 thousand drams in 2019. According  to the draft budget for 2020 the salaries of teachers working in  general educational institutions will increase by 10%.

The Ministry of Foreign Affairs will receive 803 million 254 thousand  drams for the maintenance of the department, the Ministry of Culture,  Youth and Tourism for the development of the tourism sector will  receive 28 million drams, instead of 25 million drams allocated last  year. The main purpose of tourism will be the development and  popularization of the tourism product of the Republic of Artsakh in  the target markets. In 2020, the main emphasis will be placed on the  development of ecotourism with elements of rural and extreme tourism.  Next year, marketing will be aimed at promoting and disseminating the  Artsakh brand in social networks and search engines.