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Participation of Financial Bodies of Armenia in Public-Private Partnership Process

Author

Listed:
  • Makar I. Kudelich

    (Financial Research Institute, Moscow 127006, Russia)

  • Hasmik V. Khachatryan

    (Center for Strategic Initiatives, Yerevan 0010, Armenia)

Abstract

The article is addressed to the issues of ensuring the correlation between the budgetary process and public-private partnership (PPP) in the context of its implementation in the Republic of Armenia and the formation of an appropriate regulatory and legal framework. The article contains recommendations for end-to-end participation procedure of the Armenia’s financial authorities at all PPP project stages: from preparation and justification to monitoring and evaluation of effectiveness based on the results of its implementation. The recommendations were prepared on the basis of the best international practices for financial grounding and structuring PPP projects. They are aimed at budget expenditures optimization, appropriate budgetary arrangement and provision of other resources for PPP projects, increasing the validity of proposals for financial support for various forms of public partner participation in PPP projects at the expense of state (local) budget of the Republic of Armenia.

Suggested Citation

  • Makar I. Kudelich & Hasmik V. Khachatryan, 2018. "Participation of Financial Bodies of Armenia in Public-Private Partnership Process," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 76-89, August.
    • Handle: RePEc:fru:finjrn:180407:p:76-89
    DOI: 10.31107/2075-1990-2018-4-76-89
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    References listed on IDEAS

    as
    1. Makar I. Kudelich, 2017. "Problems of Implementation of Investment Budgetary Expenditures when Providing Sector Support Measures," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 9-19, October.
    2. Catriona Paterson, 2006. "Investor-to-State Dispute Settlement in Infrastructure Projects," OECD Working Papers on International Investment 2006/2, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

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      More about this item

      Keywords

      public-private partnership; budget expenditures; Republic of Armenia; state obligations under PPP project; financial support; forms of participation of public partner in PPP;
      All these keywords.

      JEL classification:

      • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
      • H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement
      • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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