Yerevan /Mediamax/. Armenian Minister of Finance Davit Sargsyan denied the information on ineffective expenses of AMD700bln registered as a result of the examinations of the Control Chamber today.

The Minister said that "we don't have AMD700bln state procurement", Mediamax reports.

According to Davit Sargsyan, the procurement plan for early 2013 makes AMD262bln, if added other expenses - AMD445bln and AMD130bln out of the overall sum falls on salaries of teachers and polyclinic associates.