AMENDMENTS TO BE MADE IN LAW ON BUDGETARY SYSTEM OF RA
10-10-2007 20:40:00 | Armenia | Economy
YEREVAN, OCTOBER 10, NOYAN TAPAN. At the October 10 special
session, the RA National Assembly discussed in first reading the
government's package of bills, which envisages amendments and
additions to the Law on Budgetary System of the RA and another
23 laws.
According to the main speaker, the first deputy minister of
finance and economy Pavel Safarian, the proposed amendments and
additions are conditioned by four circumstances. First, the
deadline for submitting the draft state budget of the RA to the
National Assembly is being brought into line with the period
envisaged by constitutional amendments: at least 90 days before
the start of the budgetary year. Besides, adoption of the
package is related to the transfer to a new financial
statistical system - GFS-2001 starting from 2008, as well as to
implementation of operations so far carried out through the RA
compulsory social insurance budget through the state budget and
making compulsory social insurance payments social insurance
payments and regulation of relations on provision financial
equalization subsidies and target allocations between the state
and local government bodies. The package of proposals under
discussion is among bills ensuring the execution of the 2008
state budget.