Last years problems related to overconsumption of water resources, their pollution, protection, prevention and reduction of consequences of droughts and floods are at the centre of attention of governments of all countries of the world. At the same time the norms of international law, existing in sphere of regulation of problems of water economy, remain inefficient and impracticable. In those conditions each state aspires to manage and control renewable water resources and to keep national reserves of water as far as possible more effectively.
         Together with necessity of the account of social, economic and environmental values of water resources, the water resources management sphere includes also political-legal aspects that must be fixed in a basis of carried out reforms. It is clear, that the reforms should begin from a legal field.
         In Armenia the beginning of institutional reforms of water resources sphere has put by acceptance on February 9, 2001 of Government Regulation № 92 “About reforms of water economy management system”. This document authorized the concept of reforms in water resource and water economy management system, where the numerous theses directed on regulation of problems were given the rules are listed that should be realized. The mentioned concept stated planning and ordering of activity of various bodies in system of the water relations.
         As a result of absence of the account of water resources and inefficient water supply, unbalanced and not ensuring profitability tariff policy, increase of the tariff on the electric power, which is a basic component of the cost price of water, absence of the mechanism of collection of payments for water, not of public, acceptance of water, as special commodity cost, over a high level of outflow and inefficient operation of water supply and water drain system – the water economy of Armenia has appeared in a crisis condition.
         The necessity of liquidation of the above given defects and realization in of uniform policy in the field of water relations conditioned creation by the same Regulation of the State Committee of Water Economy under the Government of R.A.
         Before acceptance of the Water Code of R.A. (2002), in Armenia the exiting situation differed from principles of water resources management accepted in the advanced countries of the world, in particular, the water basins yet here not units of management and monitoring of water resources, was not created such a state body, which would be responsible for development and realization of water basins management policy, the institutions of local governing, water users and society did not participate yet in acceptance of the decisions in this sphere.
         Though there are payment for nature use and pollution – they are low and only their insignificant part is collected, and there principle “Water pays for water” is not realized, as only part of these payments directed on the programs under the decision of problems of field (during budget process and in the laws on the budget the sources of fund raising are not considered). The methodology of definition of nature use and environmental fees is not developed. In particular, system of encouragement payments or penalties is not applied.
         The Water Code of Armenia, which as a matter of fast defines strategic directing of water resources management, contains the rather precisely developed mechanism of maintenance of the above listed principles. During its development the problems exiting in waters sphere were raised and the legal ways of the decision of these problems are offered. We think this document even in subsequent 15-20 years will ensure safe process of reforms of the water relations: accompanying is satisfaction of growing needs of quantity and quantity of water, best methods and mechanisms of regulation in the field of protection and use of water resources.
         It is necessary to note, that according to the numerous international experts the Water Code of R.A. corresponds to the best examples accepted and used in the international practice, and can play a role of model (example) in region and for republics of the former Soviet Union that till now did not modernize a legislative field concerning water resources management. During development of the large attention was given to observance of norms of the international contracts, as Armenia is one the parties of several of them and is going to ratify them.
         One of first in the code are determined the basic principles of use and protection of water resources, the sphere of the water relations and purpose of reforms in this sphere. As such were designated: preservation of water resources of R.A., satisfaction of the needs of citizens and economy by means of effective management of used water resources, and maintenance of ecological stability of an environment.
         The basic principles of management, use and protection of water resources and water systems consist in satisfaction of the basic biological needs of the present and following generations, preservation and increase of national water resources, protection of water and boundary with them ecosystems and their biodiversity, encouragement of an effective utilization of water resources – for the welfare of society, recognition of necessary of informing and participation of society in water resources management process.