Prime Minister Nikol Pashinyan recently visited the Ministry of Finance to discuss the implementation of the state budget for 2023. The meeting included Deputy Prime Ministers Mher Grigoryan and Tigran Khachatryan, Chief of Staff of the Prime Minister’s Office Arayik Harutyunyan, as well as the heads of various government agencies.

During the meeting, the Prime Minister highlighted the Ministry of Finance’s report on the progress of work in the field of finance. The report covered alternative macroeconomic and fiscal scenarios, which formed the basis for budget revenue generation. The focus was on infrastructure development, including housing construction, preventing real estate price increases, providing high-quality healthcare services, promoting renewable energy, and implementing public administration reforms. The meeting also discussed the successful implementation of a system for collecting personal income tax, leading to improved tax administration and increased tax revenues.

Finance Minister Vahe Hakobyan, representatives from the Central Bank, and the Deputy Minister of Territorial Administration and Infrastructure also attended the meeting.

In addition to the discussions, Finance Minister Vahe Hakobyan, along with representatives from the Central Bank, presented reports and assessments on the management of fiscal and exchange rate risks within the international financial market.

The meeting also addressed the integration of the population affected by the conflict into the real estate market in the Nagorno-Karabakh region.

The comprehensive development of the economy and the increased level of public debt were identified as requiring additional measures. These include effective fiscal risk management, modernized tax administration, social programs, and increased investment opportunities. The meeting also discussed reducing the tax burden on the population and increasing revenue growth through decreased tax liabilities.

Furthermore, the meeting focused on optimizing public expenditure and improving the efficiency of financial programs. Continuous analysis and evaluation of financial and economic conditions were also emphasized.

In conclusion, Prime Minister Nikol Pashinyan commended the significant progress made in implementing fiscal and financial reforms. However, he stressed the need for continued efforts to achieve goals and further increase revenue growth.