ARMENIA’S SUPERVISION CHAMBER TO MONITOR SPENDING OF BUDGET, LOAN FUNDS

ARKA
March 26, 2008

YEREVAN, March 26. /ARKA/. Armenia’s Supervision Chamber is to conduct
monitoring of the spending of budget and loan funds, the Chairman of
the Chamber Ishkhan Zakarian said.

Inspections are to be made in the period from April 22 to June 20
and will cover the period of August 1 2006 to January 1 2008 "If
violations are revealed, we will not be turning blind eye to them.

The law provides for ways bring to account. If it is found to be
a public wrong, all cases will be sent to the prosecutor office,"
Zakarian said.

He stressed that the Chamber is going to inspect all organizations
within the scope of budget financing and loan programs.

Any protocol compiled by the Chamber after inspections will be first
discussed with respective agencies and ministries binding them to then,
during a month, provide information on the works done, Zakarian said.

He also urged the chamber members to consistently study the state
appropriations for road construction.

"About 41bln Drams will be directed to road construction, thus a
specialized commission needs to be set up since it quite difficult
to supervise this sphere," Zakarian said considering involvement of
foreign experts possible.

He also pointed out that more often check-ups are to be implemented
in organizations where serious loan programs are planned to be
implemented.

Among the target ministries Zakarian mentioned the Ministry of
Agriculture where a number of state programs are to be implemented on
seed-growing, forestry and veterinary for total of 11bln Drams. "We
should ensure that no dissatisfaction occurs among rural communities
and that all the appropriations to the last penny are under control,"
Zakarian said.