Next year’s capital expenditures to register record growth – Armenian lawmaker

YEREVAN, JUNE 8, ARMENPRESS. Next year it is planned to increase the capital expenditures envisaged by the state budget by several tens of percent against this year, Chairman of the parliamentary standing committee on financial-credit and budgetary affairs of Armenia Gevorg Papoyan said during parliamentary hearings on the bill to make amendments to the Law on Administrative and Territorial Division of Armenia.

The lawmaker reminded that this year the capital expenditures have increased by 62%.

“Now the committee on financial-credit and budgetary affairs is working with the ministry of finance on the state budget of the next year. And I want to state that our capital expenditures of the next year will also register a record growth compared to this year, they will be at least a few tens of percent more than this year”, he said, adding that this also relates to the increase in subvention programs.

Papoyan assured that all subvention expenditures submitted by communities, which are smart, will find their source of funding.

“Our capital expenditures for the next year and the volume of funds for subvention will be much higher than in 2022”, he said, adding that this will enable communities to greatly increase the projects and spending which they have planned to implement.