RA NATIONAL ASSEMBLY ENVISAGES FINISHING DISCUSSION OF PRELIMINARY VERSION OF 2008 DRAFT STATE BUDGET ON NOVEMBER 15

Noyan Tapan
Nov 14, 2007

YEREVAN, NOVEMBER 14, NOYAN TAPAN. The RA National Assembly on
November 14 continued the discussion of the preliminary version of
the 2008 draft state budget. It is envisaged to finish its discussion
in November 15.

Presenting the main macroeconomic indices and registering a
considerable progress as compared with last year, the co-rapporteur
Gagik Minasian – chairman of the NA standing committee on financial,
credit and budgetary issues, member of the Republican Party of Armenia
– assured those present that "in case of several years of such dynamic
development, our country’s indices will reach European ones".

Other speakers also pointed out the notable growth in financing
of several sectors, including the chairwoman of the NA standing
committee on science, education, culture, youth and sport issues
Hranush Hakobian, who, as she put it, has participated in the apporoval
of 22 budgets. The chairman of the NA standing committee on social,
health care and environmental protection issues, former minister
of health Ara Babloyan reminded that 10 years ago the budget of the
health care sector was about 30 million dollars, which was less than
the budget of an average European hospital. In 2008, it is envisaged
to allocate 54.6 billion drams (about 162.7 million USD) for health
care, which is more by 24.2% than the 2007 index.

To recap, the settlement exchange rate of a dollar is fixed at 336.5
drams in the draft state budget.