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Priorities of domestic policy
- Legal reforms;
- Establishment of civil society;
- Economic and social policy.
Government’s role in regulation and development of the economy
- The government shall be more effective in undertaking regulatory functions conferred to him in economy, including those calling for anti-monopoly, free competition, justice and resolution of economic disputes.
Fundamentals of economic policy, including
- Economy should develop by the principle of free economic relations to secure maximum interaction with world economy and find its earned place in the world distribution of labor.
- Innovative economic development and high industrial methods may realistically lead to unprecedented success.
- Increased level of transparency in legal and economic fields is required to attract foreign investments.
- Improvement of National Assembly supervision mechanisms over the Central Monetary body of Armenia;
- Development and introduction of an effective deposit guaranteeing system, which is an important step towards consolidation of public trust in banks;
- Creation of favorable environment for formation of private and state insurance and pension funds and companies;
- Ensuring more liberal monetary policy to promote mortgage lending;
- Increase volumes of bank lending in real economic sector, defining operative supervision over use of loans;
- Implement a feasible program of returning all funds deposited in the former ”Armsavingbank”, as well as other 33 banks and credit organizations that went bankrupt or got liquidated during early 90s. Following principles should be used as implementing the programs: all deposits should be registered as domestic state debt to its citizens, proceeds gained from the privatization of state assets should serve funds for return of deposits, as well as funds obtained through confiscation of the wealth pilfered from the public and enormous taxes concealed from the state by a number of business entities.
- Budget processes should be more open and transparent;
- Transfer to development budgets, making clear distinctions between expenses to be dedicated to implementation of long-term development programs and others;
- Increase efficiency of budget expenses; reduce state maintenance costs for the administrative staff;
- Program republic and community budget expenses and perform on the basis of final result-driven program budgeting;
- Ensure budget deficit not to exceed the maximum 3%.
- The party believes that it is necessary to create a tax system operating on the principles of justice and equality, combat shadow economy, increase inflows from direct taxes (profit, income), reduce rates of the main types of taxes, struggle against the defective practice of showing false losses, employed by business entities. It is necessary to permanently improve and enhance the level of tax administration.
- Encourage domestic production and import of high value added products through customs policy. Ensure increased transparency of administration in customs houses, eradicate the corruption deeply rooted therein, and guarantee equal legal conditions for all importers and exporters. For the purpose of promoting domestic production, it is necessary to implement protective customs policy, which anticipates moderate customs regime over exported domestic production and relatively stringent customs regime over similar foreign products imported. It is necessary to permanently improve and enhance the level of customs administration.
- The state economic policy should be focused on promoting development of most scientific, innovative branches of economy, at the same time taking into account the energy, strategic, economic, transport, food and ecological safety of the country.
- The party believes that it is important to ensure political and financial-economic independence of communities, that is to say cancel the right of government and any other authorities to dismiss community leaders and councilors and be consistent in implementation of the decentralization process, i.e. grant communities with key authorities and financial means required therein. Adopt a new law on local governments, which will allow increasing community budgets up to 25%-35% of the state budget, thus elevating the lives in rural and urban communities.
- In order to ensure the development of local government systems, revise the laws on local duties and payments, financial leveling, etc.
- Reform the system of territorial administration.
Foreign economic relations
- Taking into consideration the small volume of Armenia's economic and financial markets and poor sustainability, always take account of economic and financial stability and security in foreign economic relations.
Balance of payment (trade)
- The party believes it is necessary to promote the growth of export and development of productions to substitute imported products, which will lead to decrease of unprecedented and unacceptable sizes of negative foreign trade balance.