YEREVAN, NOVEMBER 16, ARMENPRESS. State Minister of Artsakh Ruben Vardanyan chaired the session of the government of Artsakh Republic on November 16.

As ARMENPRESS was informed from the office of the Artsakh State Minister, during the session, the draft Law on State Budget of Artsakh was presented and approved. Minister of Finance and Economy Vahram Baghdasaryan presented the main indicators of the draft budget.

Ruben Vardanyan noted that according to the established procedure, the draft budget should be submitted to the National Assembly at this stage. "My position is that we should review the budgetary approaches. But the budget elaboration process started before I took the office, so taking into account the importance of maintaining financial stability, at this stage it is necessary to submit the already formed draft budget and work in the coming months to develop a new budget based on the principles of program budgeting."

Speaking about the financial and economic situation, the State Minister noted that the created difficult conditions no longer allow working under the previous regime. The crisis situation requires a correct assessment of the available opportunities and resources and their maximum effective use, taking into account today's challenges.

"We have serious problems, including a large budget deficit, and to solve these problems, difficult and sometimes even unpopular decisions must be made. Otherwise we will not be able overcome the crisis. I am saying this so that we can clearly understand the reality and understand that together we have to overcome many difficult challenges", Ruben Vardanyan emphasized.

The State Minister instructed the state administration bodies, and the institutions and organizations operating under their authority to refrain from additional purchases and assuming new financial obligations until the end of the year.