Budget Structure Changes: Budget Presentation Based on Government Agency Framework - Vahe Hovhannisyan

The Minister of Finance has presented a new format for budgetary processes and management reforms. During the initial discussion of the 2026 state budget in the National Assembly, Finance Minister Vahe Hovhannisyan announced that the medium-term expenditure framework will now be approved for five years instead of the previous three.

According to him, budget planning is now based on a governmental approach, outlining the main policy directions and expenditure limits for each body. 'This year, we approved the medium-term expenditure program at the beginning of June, earlier than in the past. This allows us to discuss the base budget and priorities in more detail during the budget draft preparation process. Next year, we plan to start the process in May already,' said Hovhannisyan.

The minister noted that the budget will be presented with a three-year outlook, enabling more predictable and strategic planning. Additionally, the structure of the budget has been transformed, with expenditures and revenues being grouped based on government agencies.

Hovhannisyan added that starting next year, the budget will also include the value of property used by state bodies, ensuring a comprehensive view of expenditures. For the first time, a system for the transfer of capital expenditures will operate, allowing unspent but committed capital expenditures to be completed at the beginning of the following year without additional administrative burdens.