YEREVAN. – Armenia has adopted a program strategy for budget approval.

The Deputy Minister of Finance, Pavel Safaryan, introduced this strategy at Thursday’s Cabinet session.

According to this strategy, the country’s budgets will be drawn up on the basis of not solely quantitative, but qualitative assessments of expenditures.

Accordingly, the sectoral ministries of Armenia will be able to adjust their budgetary plans for the future by considering the results achieved in the past.

In addition, the budgeting logic will be changed. In view of that, the state bodies will start to bear accountability for the preparation and results of their own programs. Furthermore, the ministries’ apparatuses will be required to possess financial knowledge to assess the effectiveness of their programs, and the potential of new ones.