YEREVAN, SEPTEMBER 29, ARMENPRESS. The 2023 state budget draft of Armenia envisages greatly increasing the capital expenditures directed to improving the security and economic infrastructures. This will comprise 557 billion drams, which is more by around 200 billion drams, as it was set by the 2022 state budget, Minister of Finance Tigran Khachatryan said at the Cabinet meeting today, presenting the 2023 state budget bill.

He said that as a result of financing at the expense of own incomes and borrowed funds, the total cost of 2023 expenditures will be 2 trillion 590 billion drams or 27.8 percent of the GDP. This will allow to rise the funding for programs aimed at improving economic and security infrastructures.

“The capital expenditures directed to improving the security and economic infrastructures will significantly increase and will comprise 557 billion drams, it is more by around 200 billion drams than it was set by the state budget of 2022. In 2023 this figure will reach the 5.9% of the GDP, against the 4.5% planned initially for this year. The allocations to security infrastructures will significantly increase, the financial allocations for improving the economic infrastructures will continue to remain high, the works on constructing and renovating social infrastructures, educational and healthcare facilities will increase”, he said.