The main focus of 2023 budget programs will continue to be strengthening of the security environment, economic empowerment, development of human capital and social protection, Finance Minister Tigran Khachatryan told lawmakers in parliament during debates of the 2023 state budget draft.
“There is no alternative to rapid economic growth. The fiscal policy placed in the basis of this draft budget is aimed at this goal,” he added.
Khachatryan said that the high economic growth indicator of 2023 must be the main indicator for determining the effectiveness of government reforms and especially economic policy.
“A high economic growth index is targeted for 2023 – 7% real growth of the GDP. It is a difficult challenge that such a high economic growth must be gained in conditions of restraining monetary policy,” Khachatryan said.
According to the minister, this year's economic growth can become one of the highest growth index recorded in the recent 15-20 years, being in the range of 13-14 percent real GDP growth.
He said the government will continue expanding support for private projects aimed at investments with the purpose of subsidizing interest rates of loans for updating tech equipment. Thus, the government will promote high-quality investment decisions and will encourage acceleration of decisions by companies aimed at increasing productivity. The funds envisaged for this project alone will surpass 11 billion drams.
The salary of public servants will increase in 2023, finance minister Tigran Khachatryan told lawmakers at the 2023 budget draft debates.
He said the increase will happen as a result of increasing the base salary combined with minimum wage. “Budget allocations for 2023 for this purpose were increased by 21 billion drams,” he added.
