Press releases

Government expands scope of 8th anti-crisis program beneficiaries


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A Cabinet meeting was held today, chaired by Prime Minister Nikol Pashinyan.

The Government amended the 8th anti-crisis program. Accordingly, lump-sum assistance shall be provided to employees and individual enterprises in affected areas, including production of textile products, wood processing and production of wood products and cork, except for furniture, production of straw products and weaving materials, paper and paper products, production of rubber and plastic products, production of computers, electronic and optical products, production of electrical equipment, administrative and other additional activities for the provision of support services for entrepreneurial activity.

Deputy Minister of Labor and Social Affairs Arman Udumyan noted that thereby we will have 9171 more beneficiaries involved in 1875 organizations in the aforementioned 9 spheres. The total assistance budget will be AMD 623,628 thousand drams.

“At present, 124 thousand 609 beneficiaries have received assistance within the framework of the eighth event. The total amount amounted to about 8.5 billion drams,” the Deputy Minister said.

In this connection, the Prime Minister stressed that beneficiaries currently have access to 100,400 million drams of assistance under the Government’s anti-crisis programs.

“There are 51,800 beneficiary economic entities, with over 1.1 million citizens involved in the program. As part of the eighth anti-crisis program, we have already assisted 124,609 individuals to a total cost of 8.4 billion drams, while 186,233 persons have been supported under the ninth program to a total cost of 4.9 billion drams. In total, the government adopted 19 anti-crisis measures,” Nikol Pashinyan said.

The Government approved a procedure for the sale of apartments and parking spaces for an apartment building under construction at 19/8 Adonts Street, Yerevan, in order to provide housing for public servants. Accordingly housing will be provided to some 345 public servants.

Acting Urban Development Committee Chairman Armen Gularyan said the building is expected to be complete in 2023. It is planned to rent the apartments to the beneficiaries in two stages: until April 2023 - 200 apartments, until August 2023 - 145 apartments. The cost of housing is 345 thousand drams per 1 sq.m with repair and 310 thousand drams per 1 sq.m without repair, the cost of a parking space is 2.5 million drams. Prepayment is 10%. Loan repayment period - until the retirement age, but not more than 20 years. “Apartments and parking spaces will be distributed by lot. Beneficiaries are free to purchase parking spaces,” Armen Gularyan said.

The Government approved a legislative initiative on the bill “On ratification of the memorandum-agreement signed on May 23 and June 1, 2020 between the Republic of Armenia and the International Monetary Fund “On the use of the reserve program funds and attraction of additional borrowed funds.” As a result, currently budget funds in the amount of SDR 206 million (USD 280 million) are available to Armenia, SDR 25.714 million (USD 35 million) will be available following the third revision of the program.

Nikol Pashinyan touched upon the credit holidays provided by banks and credit organizations. “Banks and credit organizations have so far restructured 682 billion dram-worth liabilities for about 550 thousand individuals; 45 billion dram-worth credit holidays have been granted. Credit holidays were offered to some 17,400 legal entities for a total of 640 billion dram-worth borrowed funds amounting to 57 billion drams in recurrent liabilities,” the Prime Minister said.

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