Yerevan/Mediamax/. Armenian Ministry of Finance will continue reforms in 2011 in order to increase efficiency of state expenditure management, Minister of Finance Vache Gabrielyan stated in Yerevan today.

Mediamax reports that Vache Gabrielyan informed that the Ministry will continue introducing a system of program budgeting, and the applications for budget financing for 2012 will be accepted on the basis of new parameters.

Speaking of other priority directions of the Ministry of Finance’s activity in 2011, Vache Gabrielyan noted introduction of a common electronic system of state debt management, preparation of draft decisions of the government on “publicizing international audit standards” and on “establishing quantity and currency limitations for investments into financial instruments of voluntary pension funds”.

“Besides, aiming at increasing the basis of taxation for bottled and packed products, the Ministry will prepare a draft law, providing for introduction of a new system for accounting products’ data, which will lead to reduction of shadow turnover”, Vache Gabrielyan stated.