On October 8, the RA Minister of Finance Atom Janjughazyan received the delegation led by Mercy Tembon, the World Bank's Regional Director for the South Caucasus.
Atom Janjughazyan presented the peculiarities of the 2019 Draft State Budget, particularly mentioning that the budget will now include the drafts of off-budget accounts and will be compiled in the format of program budgeting. He also emphasized that the budget was drafted in accordance with the new fiscal rules approved by the Parliament last year.
The Minister attached importance to the discussions on a number of key issues, including the model of economic growth, changes in the tax system, development and revision of sectoral strategies and structural changes.
During the meeting, the sides underlined the need of developing targeted and effective policies in terms of program implementation, accurate priorities definition and human capital development.
The programs implemented jointly with the World Bank were also discussed; an agreement was reached to work towards increasing their effectiveness. The possibility of implementation of "Country Partnership Framework" program and its indicative directions were touched upon.