Armenia expected to ratify EEU Treaty later in November

Lusine Vasilyan
Public Radio of Armenia

The budget allocations to the fields of economy, energy, urban development, economic competition and tax administration were discussed at the National Assembly today. The expenditures in FY2015 will remain almost at the same level as this year. Some increases are connected with two main factors – raised wages and electricity price hike, Deputy Minister of Finance Pavel Safaryan said.

Safaryan said Armenia’s membership in the Eurasian Economic Union does not envisage additional expenses, while the budget revenues are still being estimated. The Deputy Minister said it’s hard to assess the impact of EEU membership unless the corresponding document is ratified.

“We assess the macroeconomic consequences and the revenue changes we’ll have after joining EEU. But a legal basis is needed for presenting those calculations, and the ratification of the treaty will serve as a basis. The final assessment will be prepared and presented after the National Assmebly considers the EEU Treaty,” he said.

The Parliament is expected to convene a special sitting later in November to discuss and ratify the Treaty on the Eurasian Economic Union. Before that the Constitutional Court has to submit a recommendation.

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