DEVELOPMENT BUDGET NORMAL IN NKR

DeFacto Agency, Armenia
Nov 28 2006

November 27 a Draft Law "On the NKR’s State Budget for 2007" was
considered in the course of a sitting held in the Nagorno-Karabakh
Republic /NKR/ Government.

While presenting the Draft Law to the Government’s members, the NKR
Minister of Finance and Economy Spartac Tevossian stated the state
budget’s revenues had been provided in the amount of 30902, 4 millions
drams, while expenditures – 32893, 9 millions drams. Deficit will
make 1991, 5 millions drams. 19402, 4 millions drams of the revenues
are expected to be received from RA as an interstate credit under
condition of repayment until January 1, 2010, rate 0, 01 % a year.

Summing up the sitting’s results, the NKR PM Anoushavan Danielian
took a favorable view of the measures taken on providing high rates
of the economy’s development and voiced confidence "as a result we’ll
have a normal development budget".

November 28 a government’s sitting will be held, after which the NKR
state budget will be brought before the Republic’s Parliament.