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Opposition Strong Armenia MP Hayk Farmanyan, a candidate for chair of the parliament’s Committee on Financial-Credit and Budgetary Affairs, has said that the state budget does not belong to anyone, including the Government, and that ensuring its effective management should be a priority for all lawmakers.
“The Standing Committee on Financial-Credit and Budgetary Affairs is one of the few committees where, regardless of political differences and disagreements, I am confident that there will be an atmosphere of consensus. There is one red line: the state budget of the Republic of Armenia and the money paid by taxpayers. The state budget does not belong to anyone, including the Government. I believe that any measure or bill aimed at improving the efficiency of state budget management should be treated with a high level of responsibility by every member of parliament,” Farmanyan said during a plenary session at a confirmation hearing.
He emphasized that the effective use of budgetary funds should be ensured through parliamentary oversight.
“Behind every figure in the budget—every million and every billion—there is a specific stakeholder, and first and foremost, that is the taxpayer of the Republic of Armenia. Behind those figures are sweat and the results of people’s labor, and we are obliged to ensure parliamentary oversight aimed at the effective management of state budget funds,” the candidate noted.
Farmanyan also expressed concern over the increase in public debt, stressing the importance of continuously monitoring the purpose of borrowing and the efficiency with which borrowed funds are used.
“I believe that through 24/7 parliamentary oversight, we should be able to answer three fundamental questions: Why are we taking on debt? In what areas will we spend it? And what will the citizen of the Republic of Armenia gain from it? Public debt in itself is neither good nor bad. It becomes bad when the expenditures financed through it are not directed toward capital investments that can ensure sufficient economic growth. If elected, this will be under our strict oversight,” Farmanyan emphasized.
In his speech, the lawmaker also highlighted the importance of establishing a fair and predictable tax system, improving customs administration, assessing the effectiveness of state subsidies, and transforming the structure of the economy. He assured that he was ready to support bills that serve the interests of the country, regardless of the political affiliation of their authors.