Yerevan The Armenian draft budget for 2003 envisages substantial growth in the salaries of high-ranking officials and public employees, Armenian Finance and Economy Minister Vardan Khachatryan has said.

He said that the salary of the country's president was envisaged at 600,000 drams over 1,000 dollars per month against the current 250,000 drams about 450 dollars. The prime minister's salary will be 480,000 drams 860 dollars. Ministers and MPs will receive 360,000 drams 645 dollars against the current 140,000 drams 250 dollars. Khachatryan said that the salaries of high-ranking officials would increase after the presidential and parliamentary elections - by 1 July 2003.

Moreover, as of 1 January 2003 the salaries of employees of tax and customs services will considerably increase and amount to 120 dollars, while a further increase to 200 dollars is planned by the end of 2003. The government hopes that tax employees will manage to ensure additional revenues to the budget thanks to the increase in their salaries, the minister said. The basic salary of public employees will amount to 20,000 drams 35 dollars from July 2003.

The salaries of public employees will increase insignificantly. The salaries of teachers and employees of school administrations will go up by 20 per cent as of 1 January 2003. Employees of museums, who get 6,000-10,000 drams 11-18 dollars per month, will get 13,000-19,000 drams 23-34 dollars and the pensions of retired employees will increase by 20 drams 0.04 dollars for each year of their work record. Moreover, pensions are planned to be reconsidered for an increase within a year, Khachatryan added.