ArmInfo. On December 19, Artsakh President Bako Sahakyan participated in the meeting of the National Assembly on the approval of the draft state budget for 2020.
According to the press service of the head of state, in his speech Bako Sahakyan touched upon various aspects of the draft budget. The Head of the State highlighted that the budget of 2020 was realistic in its nature, would ensure financial stability in the country, promote economic development and increase the level of people's well-being. According to the President it has preserved its social orientation and with the key targets of economic development being the maintenance of high growth rates. Bako Sahakyan noted that in the coming year a number of projects would be brought to life aimed at raising the incomes of the population, including raising the pensions of the pensioners, the salaries of the school teachers and the minimum wage. "The spheres of army-building, security and civil defense will remain in the spotlight of the authorities. It is planned to carry out various programs aimed at consistent increase of the army's defense capacity, replenishment of the Armed Forces with modern military equipment, strengthening and modernizing the civil defense system, addressing social problems of the servicemen, veterans and the disabled", the President emphasized in his speech. President Sahakyan expressed his gratitude to the deputies for active participation in the budget discussions and cooperation, suggested adopt the submitted final version of the draft budget as a law. As a result of discussions, the National Assembly passed the state budget of the Artsakh Republic for the year of 2020.
To note, according to the document, in 2020 the gross domestic product (GDP) will be 375.6 billion drams, which will be provided due to 8% real growth of the economy, inflation will be about 3%. Next year budget revenues are planned at the level of 120 billion 906.5 million drams, expenditures - 120 billion 775.6 million. The surplus will make 130.9 million drams, which will be used to repay previously borrowed funds.