YEREVAN. – Armenia’s Finance Minister Davit Sargsyan does not agree with the recent statement by Chairman Ishkhan Zakaryan of the Control Chamber (CC).  

To note, according to Zakaryan, AMD 700 billion (approx. $1,679,853,012)—or 70 percent—of the state budget expenditures are at risk.

Sargsyan noted the aforesaid during a press conference on Wednesday.

“I disagree for several reasons. First, we do not have so many purchases. The overall purchase plan is AMD 262 billion [approx. $628,744,984] to which we need to add the expenditures with credit programs. Subsequently, it will be AMD 445 billion [approx. $1,067,906,558]. From this, AMD 130 billion [approx. $311,972,702] are salaries. Let us take out the salaries, [and] AMD 300-310 billion [approx. $719,937,005-$743,934,905] are left,” the minister said.      

In addition, Sargsyan informed that the Finance Ministry has an oversight inspectorate, which likewise conducts annual inspections and reveals some problems. The minister added that the volume of the violations, which are revealed as a result of inspections by their inspectorate and the CC, are always close to one another’s findings.