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2005 Budget for Economic Development

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  • 2005 Budget for Economic Development

    2005 BUDGET FOR ECONOMIC DEVELOPMENT

    Azat Artsakh - Nagorno Karabakh Republic (NKR)
    02 Dec 04

    The November 29 meeting of the NKR government was devoted to the chief
    financial document of the country. Prime Minister Anoushavan Danielian
    briefly spoke about the results of the telethon in Los Angeles and
    congratulated the participants of the meeting for this unprecedented
    success. A. Danielian mentioned that the results were beyond all the
    expectations and for the first time more than 11 million US dollars
    was donated, which will allow to increase the length of the
    `North-South' highway. The prime minister of NKR thanked all the
    participants of the telethon, the Diasporans, the population of
    Armenia and Artsakh, the foundation `Hayastan', all the state and
    public organizations which assisted to the campaign of donations, and
    stated that owing to unity they will maintain the victory in war in
    the country's economy as well. During the meeting Anoushavan Danielian
    stressed the decisive role of NKR president Arkady Ghukassian in the
    successful organization of the telethon and the record results. The
    NKR minister of finance and economy Spartak Tevossian presented the
    project of the NKR State Budget 2005. Analyzing the points included in
    the documents the minister stated that the budget of the coming year
    will be financed 100 per cent. According to the project, the
    consolidated budget income in 2005 will total 7053.4 million drams
    (excluding the interstate loan). The 2005 budget will provide for an
    expenditure of 14864.3 million drams. Budget deficit will total
    14864.3 million drams. Both the income and expenditure of community
    budgets will total 1186.0 million drams. Thus, the NKR state budget
    income will total 6 billion 460 million drams, and the expenditure
    will total 21 billion 325 million drams against 15 billion 249 million
    140 thousand of the previous year. The sum of the interstate loan
    provided to NKR annually will total 13 billion 636 million 600
    thousand drams. Spartak Tevossian pointed out that the anticipated
    income will enable significant economic and social growth in almost
    all the spheres. The rates of production growth will surpass the level
    of the previous years, export of goods will increase. In the sphere of
    business the government will continue wide-scale assistance to small
    and medium-size business by legislative, tax, loan and economic
    undertakings. According to the minister, the budget will have a mainly
    social orientation. Special attention will be paid to the spheres of
    industry, agriculture, building, social security, health care,
    education and culture. In 2005 the salaries of teachers will be raised
    by 65 per cent and salaries of health workers by 39 per
    cent. Promotion of salaries is expected in the sphere of culture as
    well. The budget of the coming year will provide considerable
    expenditure for improvement of social conditions of the population
    (particularly the pensioners and the disabled). Spartak Tevossian
    emphasized that the government will pursue the implementation of
    economic reforms directed at creation of jobs, improvement of the
    quality of life, implementation of programs of economic and strategic
    role for the country. Presenting his observations on the budget of
    the year 2005, the prime minister of NKR Anoushavan Danielian stressed
    its importance in further economic and social development and
    mentioned that it will be directed at activation of the population
    economically. The prime minister stated that by maintaining the
    existing rates of growth and pursuing the economic and social reforms
    it will be possible to achieve tangible progress in the new
    year. According to Anoushavan Danielian, the 2005 budget will be a
    starting point for implementation of wide-scale programs in the
    republic. And maintaining the high rates of economic growth achieved
    in 2003-2004 will result in the growth of people's incomes and thereby
    the general improvement of the quality of life of the population. He
    mentioned that the state budget of 2005 will enable considerable
    development in all the spheres of life, thereby promoting the
    country's economy several steps ahead. The members of government
    approved the budget for discussion in the National Assembly. During
    the meeting of the government decisions were madeon other questions
    most of which referred to tax reforms. The government approved the NKR
    bill on `Minimum Monthly Salary' which maintains the minimum monthly
    salary of 15 thousand drams. By another decision of the Executive the
    monthly benefit of disabled children will increase from 3 to 6
    thousand drams. The government also approved the 2005 social security
    plan for the disabled.

    AA.
    02-12-2004
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