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The Cabinet of Ministers of Abkhazia discussed the formation of the budget for 2020

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17.07.2019 11:45
The Cabinet of Ministers of Abkhazia discussed the formation of the budget for 2020
The meeting outlined key areas of fiscal policy for the coming year.

Sukhum. July 17. Apsnypress. The Cabinet of Ministers of the Republic of Abkhazia, at a meeting chaired by Prime Minister Valery Bganba, representatives of the Government and the heads of central government bodies discussed the formation of the state budget for 2020.  According to the report, the meeting outlined the key directions of the budget policy for the upcoming 2020, and also paid special attention to the formation of an indicative plan by the RA Ministry of Economy.
 
 Opening the meeting, the Prime Minister noted that the work on the formation of budget indicators should be conducted subject to close cooperation of the central authorities with the RA Ministry of Finance. “The work on budgeting for the next year should be active. The agencies that plan to include state targeted programs in the budget of 2020 should already present to the Cabinet of Ministers office draft programs drawn up in accordance with all norms and requirements, with a view to their consideration in advance at Government meetings, ” - said Valery Bganba.  

  For his part, a representative of the Ministry of Economy of the Republic of Abkhazia reported that indicative planning indicators had already been submitted to the Ministry by several district administrations. Upon completion of the data collection, the draft plan will be sent to the RA Ministry of Finance.
 
 Deputy Prime Minister, Minister of Finance Jansuh Nanba said that according to the budget expenditures of the current year, we can talk about almost 50% of the planned targets. At the same time, an analysis of actual budget revenues indicates that their amount is 228 million more than in the same period of 2018.
 
 As noted by Nanba, the main task of budget planning for 2020 is the transition to the program-targeted method of spending. “This planning method contributes to the observance of a unified approach to the formation and rational distribution of state financial resources for specific programs and projects, as well as the targeted use and improvement of quality control. All this increases the level of efficiency in the use of funds, ” - explained the Minister of Finance.
 
 Summing up the meeting, Valeriy Bganba emphasized that in the distribution of public finances the most important task is to ensure their sustainability and balance. In addition, it is important to improve administration, increase the collection of taxes and other payments. “I ask everyone to be as attentive as possible to planning budget expenditures, to focus on the fulfillment of social obligations, to continue work on improving the efficiency of budget expenditures in the social sphere”, - summed up the head of government.

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