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Official News

Thursday, 25 September 2014

Government Approves 2015 Budget Bill

The government held a regular meeting, chaired by Prime Minister Hovik Abrahamyan.

Opening the meeting, the Prime Minister referred to a number of issues of topical interest to small and medium businesses, which were commented on by the Minister of Finance.

Summing up the discussion, Hovik Abrahamyan said that the concerns voiced by the SMEs are unfounded, since the Executive has no intention of pressuring small and medium businesses, instead, the government seeks support and develop small and medium-size entrepreneurship in the country (see separate).

The government approved the 2015 State budget bill, which provides for consolidated budget revenue up to AMD 1,201.3 billion, expenditures – AMD 1,337.9 billion and the deficit - AMD116.6 billion. The Minister of Finance was told to make corrections, if necessary, before submitting a finalized version to the government, after which the bill will be sent to the National Assembly for approval.

The Cabinet approved a bill on exempting border community activities from fiscal liabilities, as well as a set of amendments to eight other laws and legal acts. The government’s initiative seeks to boost economic activity in border communities.

Businesses in border communities have so far been working under the same fiscal conditions as the ones involved in other communities. Today’s decision shall spare them the need to pay the taxes arising from their business activities. Other amendments were proposed to apply unified fines by tax authorities, introduce a system of online write-off of fiscal accounts and other documents, etc.

The Prime Minister noted in this regard, “Indeed, we are doing a good job. I am convinced that the proposed package will help create new jobs in border communities. New business programs will lead to new jobs. We should ask the National Assembly to approve the package as quickly as possible.”

Around AMD 69 million was allocated to Gegharkunik Marz administration in support of those families (housed in 819 private houses and 13 apartment buildings) affected by the hailstorm of September 4, 2014.

The Ministry of Energy and Natural Resources was appointed to be Armenia’s authorized public entity responsible for implementation of the commitments assumed under the agreement “On coordination of interstate relations between CIS-member States arising from peaceful use of nuclear energy” as signed by the Republic of Armenia on May 31, 2013.

Considering the exceptional musical achievements of opera singer, conductor and artistic director Sipan Hakobyan, the meeting decided to accord him a mandatory army service deferment until the summer call-up campaign of 2015.

The government decided to appoint Surik Khachatryan to the office of Syunik Marz Governor.

December 2023