Azernews.Az

By Sabina Idayatova

Massive financial irregularities have been revealed in the regions of Armenia, the Armenian Finance Ministry said in a report on the results of audits over the implementation of the 2012 state budget.

The audits were carried out in three regions - Armavir, Shirak and Aragatsotn, particularly in regional administrations, nine urban communities and healthcare facilities.

During the check-ups, numerous financial irregularities and shortcomings were revealed; there was also improper spending of the funding for secondary schools, expenditure of funds sent from abroad and allegedly aimed at the restoration of buildings, incorrect designation of additional funds, etc.

Furthermore, local media reports that the Armenian Control Chamber has exposed serious violations of law as a result of an inspection conducted at the Yerevan mayor's office.

These check-ups were reportedly conducted at 22 sites, whose construction or complete overhaul was carried out through the mayor's office.

8.2 million drams (nearly $20,000) of the total amount of 510.34 million drams and 24.8 million drams were spent on works performed below standard.

Moreover, some 20 million drams had been allocated for planting trees in the Armenian capital but the work was never done.

Earlier, Deputy Minister of Finance Atom Janjughazyan said that Armenia's national debt amounted to $4.205 billion as of March 31, 2013.

He said that the government debt accounts for around $3.660 billion and debt of the central bank is about $546 million.

Foreign debt amounts to $3.051 billion, while domestic arrears are worth $609 million.

Janjughazyan predicted that by late 2013 the total national debt of Armenia will amount to $4.394 billion or about 42.9 percent of GDP, including the internal debt in the amount of $667 million or about 6.5 percent of GDP and the external debt worth about $3.203 billion, or 31.3 percent of GDP.

Armenians themselves comprehend the situation in depth, blaming the negligent government for the country's challenges.

"Armenia has been left outside all the regional programs including [those in] gas, oil, road and rail," Secretary of Armenian National Congress faction Aram Manukyan said last week.

According to Manukyan, the existing oil and gas projects, roads and railways bypass Armenia.

"We are not involved in these programs," he said. "This is the result of the unwise policy of our authorities, which are hopeless and irresponsible. Moreover, this cannot be fixed overnight. These careless authorities have sold not only our present, but also our future."