YEREVAN, NOVEMBER 29, NOYAN TAPAN. At the special sitting on November 29, the RA National Assembly approved the 2007 state budget of the Republic of Armenia with 77 votes in favor, 3 votes against and 6 abstentions. The Justice faction's members present at the sitting voted against or abstained. 3 out of the 6 members of the United Labor Party faction, including the faction leader Gurgen Arsenian, also abstained from voting. The Orinats Yerkir faction and the National Unity faction (which was absent) did not participate in the vote. The revenues of the 2007 state budget make 490.206 bln drams, the expenditures - 588.677 bln drams, and the deficit - 68.470 bln drams. According to the main speaker, RA Minister of Finance and Economy Vardan Khachatrian, after the dicussion interrupted on November 15, the total amount of revenues was increased by about 700 mln drams in the final version of the draft compared with the preliminary version, expenditures increased by about 800 mln drams, and the deficit - by 124 mln drams (about 326 thousand USD). The 2.3% ratio of the deficit to GDP was maintained. The government received 441 proposals from the parliament. V. Khachatrian said that the total cost of proposals envisaging some definite sums of increase makes nearly 25.9 bln drams, and the reductions in expenditures on the state governance machinery amount to 3.4 bln drams. As a result of discussion, the government considered 110 proposals as acceptable, and explanations were given with respect to another 70 proposals. 261 propsals (59.2% of the total number of proposals) were rejected. As a result, the total amount of accepted proposals on expenditures for certain purposes made 2.97 bln drams. Its satisfaction in the amount of 2.04 bln drams was made possible under the programs on major repairs of educational facilities, which were already envisaged by the state budget, and in the amount of 930 mln drams - thanks to an increase in the general allocations envisaged by the draft. Particularly, the budgetary allocations were increased in the social and cultural sphere by 660 mln drams, in some branches of the economy - by 160 mln drams, and in other spheres - by 110 mln drams. Besides, compared with the expenditures of the preliminary version, the government on its own initiative has envisaged new expenditures of 1.69 bln drams, making additional allocations for the water industry, the loan to the NKR, the National Assembly elections and for some other spheres. By the way, the 710 million drams envisaged in the preliminary state budget version for financing the draft law on a 40% rise in salaries of high-ranking state officials, which was withdrawn from the parliament on the initiative of the government, has been allocated for school construction.

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