Ministry of finances of Republic Armenia

 

The Ministry of Finance of the Republic of Armenia is an executive public entity, developing and implementing the policy of the Armenian Government in state revenue formation, state finance management, coordination of social-economic development programs.

The authority of the Ministry is defined under the laws, orders and decrees of the President, government decisions as well as international Treaties of the Republic of Armenia.

The Ministry carries out its activities in accordance with the legislation and legal acts of Republic of Armenia.

The goals and objectives of the Ministry are the following:

a) Organization of budgetary process;

b) Ensuring activities in integrated policy development and implementation of international financial cooperation, financial-economic, budgetary, financial market, as well as loan, tax and non-tax and customs revenues;

c) Elaboration of legal, financial acts on the regulation of activities of insurance, audit, lotteries, casinos, licensing of persons conducting such activities as well as control over license requirements;

d) Elaboration of methodology for audit, accounting and financial reports;

e) Elaboration of state budget revenue formation policy of RA via tax, non-tax, customs and mandatory payments (budgetary revenues), exercising governmental control over the budget revenues collection from state bodies and officials;

f) Organization and realization of audit of financial-economic activities of government agencies, state non-commercial and commercial organizations with government participation;

g) Coordinating loans and donations allocated by international financial organizations and foreign countries as well as current monitoring of program implementation;

h) Protection of state property interests within the scope of granted authorities;

i) Governmental regulation and inter-branch coordination of procurement process for the needs of the state and communities;

j) Management of public debt, formation and management of state mobilization reserves, coordination of economic development programs;

The Ministry of Finance and Economy of the Republic of Armenia cooperates with a number of international organizations: the Asian Development Bank, the Black Sea Trade and Development Bank (BSTDB), the European Union within TACIS and EU’s Food Security Program, the European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF), the World Bank (WB), the German Credit KfW [Kreditanstalt fur Wiederaufbau], and a number of organizations supporting Armenia in the frames of the Armenian-U.S. economic cooperation.

Minister Vardan Aramyan
Address 1 Melik-Adamyan St., Yerevan, Armenia
Phone (010)59 53 04,
Email press@mfe.am
Website http://www.mfe.am

Last update: 2017-04-25 10:22:24

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