Budget formation in Armenia: comparison with continental and Anglo-Saxon models

Abstract

The internship policy analysis project was conducted at the Finance Ministry of Armenia and aims to describe and analyze the budgetary regulations in Armenia with an eye to the borrowing policies and organization methods from other countries. First, the paper will present and scrutinize the central government structures, budgeting systems and standards in Anglo-Saxon and Continental European Countries. Afterwards, their practices will be compared with the Armenian case, with similarities and differences being identified. Consequently, this will enable to find out to which of the two models, the Armenian system stands closer. Finally, on the basis of the case studies, their successes and setbacks in the field, as well as the country specific factors, recommendations will be suggested to improve the budgetary process in Armenia.