08.12.2022
The National Assembly of the Republic of Armenia adopted the draft law "On the State Budget of the Republic of Armenia for 2023"
The 2023 budgeting policy was implemented based on the priorities of the RA Government's 2021-2026 Program and the RA Government's 2021-2026 Action Plan.
The main goal of the measures to be implemented will be to increase the competitiveness and productivity of the economy. The government continues to target long-term high economic growth of at least 7% annually, and 9% in the case of a favorable external environment.
Guided by the priorities of the 2021-2026 plan of the RA government, the 2023 state budget plans to implement a number of priority measures of a social, educational, infrastructural nature, the most notable of which are:
- raising the minimum wage, setting it at 75,000 AMD
- the increase of expenditures for pensions by 25.2 billion drams
- ensuring progressive growth of spending on healthcare and education in relation to GDP, 1.60% and 2.24% respectively.
- provision of additional expenses for the improvement of the demographic situation in the amount of 16.9 billion AMD
- the increase of significant expenses in the field of science by 6.2 billion AMD