STEPANAKERT. 0 Finance Minister of Artsakh Spartak Tevosyan on Wednesday presented the report on annual performance of the 2016 State Budget to the deputies and officials in charge of standing committees and factions.

The session was chaired by Chairman of Standing Committee on Financial Budgetary and Economic Governance, Ruslan Israyelyan.

The joint discussion between legislative and executive branches was attended by Speaker of Artsakh National Assembly (NA) Ashot Ghoulian, Premier Arayik Harutyunyan, NA Deputy Speaker Vahram Balayan and government members. 

According to the finance minister, the GDP amounted to 230 billion AMD during the reporting year, which is a 9.2 percent growth as compared to year 2015. The volume of industrial production made up 59 billion AMD, increasing by 9.7 percent.

In the minister’s words, the volume of own production of electricity last year (296.4 million kWh) was almost equal to the volume of consumed electricity (299 million kWh).

The average monthly wage amounted to 152,707 AMD, which is 1.1 percent more than the index for 2015.

In 2016, the revenues of the Artsakh State Budget amounted to 33 billion 711,1 million AMD, having reduced by 725,3 million as compared to 2015. The finance minister explained the reduction by the April war in 2016.

The actual expenses of the State Budget made up 84 billion 670 million AMD. As compared to the previous reporting year, the expenses increased by 1 billion 562,7 million AMD, the deficit totaling 3 billion 692,4 million AMD.

Premier Arayik Harutyunyan presented clarifications in regard to the budget performance, stressing that despite the damages caused by the April war, the country’s economy has not appeared in a state of force majeure. 

Harutyunyan considered diversification of economy and growth of production in the sphere of energy as success of 2016.

The discussions on the 2016 State Budget performance will—according to the timeline— continue in the standing committees and factions of the NA.