On 3 August Artsakh Republic President Arayik Harutyunyan chaired the first meeting of the Artsakh Republic Cabinet of Ministers.
The issue of making changes to the law "On the 2020 State Budget of the Artsakh Republic" included on the agenda of the meeting was presented to the members of the Artsakh Republic Government by Minister of Finance Vahram Baghdasaryan. He noted that the draft budget was developed in fulfillment of a number of provisions of the Artsakh Republic President's 2020-2025 program, according to which the state budget expenditures of the Artsakh Republic for 2020 are planned to be increased by 14.810 million drams, and the state budget revenues by 5.100 million drams, conditioned by the amount of the budget loan received from the Republic of Armenia. As a result of the changes, the 2020 state budget of the Artsakh Republic, according to the President's instruction, will make 126 billion 49 million 399.2 thousand drams in terms of revenues, 135 billion 650 million 717.7 thousand drams in terms of expenditures. The deficit will make 9 billion 601 million 318.5 thousand drams, which will be financed at the expense of the borrowed funds.
The Cabinet approved the draft law, which according to the procedure will be submitted to the National Assembly for discussion.
The Head of the State subsequently presented to the participants of the meeting the envisaged reforms by sectors. "The implementation of large infrastructure projects will allow to bypass the possible negative consequences of the global economic downturn for our republic," noted Arayik Harutyunyan, adding that in case of successful implementation of current programs, double-digit economic growth is expected next year.
Speaking of the efficient implementation of the programs under discussion, the President highlighted the need for close cooperation with the state bodies of the Republic of Armenia, as well as conscientious attitude of officials at every link of the public administration system, discipline, equality of all before the law, maintaining a harmonious atmosphere among the employees. At the same time, the Head of the State warned that those state officials, whose work and behavior will contradict the above-mentioned principles, will be relieved of their posts.
The President underscored the significance of maintaining the atmosphere of internal stability established in the country, which will allow the implementation of the two most important tasks facing the Artsakh Republic: security and socio-economic development. Within this context, the President called on the opposition forces to engage only in constructive criticism, to refrain from steps that undermine the established stability.