A regular Cabinet meeting took place today, chaired by Prime Minister Nikol Pashinyan. The Government adopted a decision to increase the amount of pensions and benefits to overcome extreme poverty among the pensioners, the elderly, the disabled and those who get benefits in case of losing the breadwinner. Accordingly, from September 1, 2022, it is proposed to set the amount of the basic pension for calculating the amount of labor pension at 21,000 AMD (instead of 18,000 AMD), the amount of the basic pension for calculating the amount of military pension at 20,000 AMD (instead of 18,000 AMD), the amount of the minimum pension - 30,500 AMD (instead of 28,600 AMD), the amount of the military pension for the disability of a private serviceman of the compulsory military service for the disability of the first group - 45,000 AMD (instead of 43,000 AMD), 35,000 AMD (instead of 33,000 AMD)for the disabled of the second group, 32,000 AMD (instead of 30,000 AMD) for the disabled of the third group. In case of loss of the breadwinner of a family member of a killed member of a private serviceman of the compulsory military service, the amount of the military pension will be set at 32,000 AMD instead of 30,000 AMD. As a result, it is expected that the average monthly amount of labor pension will increase by around 3100 AMD or 7.1 percent, military pensions - by 5200 AMD or 6.8 percent. It is also proposed to increase the amount of benefits for elderly, persons with disability and loss of breadwinner, setting them at 30,500 AMD (instead of 28,600 AMD), and for a person recognized as a disabled child, at 39,000 AMD (instead of 37,000 AMD).

Referring to the adopted decision, Nikol Pashinyan noted that the 2023 mid-term expenditure plan envisages increase of pensions. "And since quite good economic indicators were recorded, state revenues in terms of tax revenues have been overperformed by more than 70 billion AMD, we decided to implement the increase in pensions and benefits, which we planned from January 1, 2023, from September 1, 2022. The basic pension increases by 17 percent and the average pension increase is 7 percent. I also want to say that the increase in pension and benefits from July 1 of the next year remains in force," said the Prime Minister.

The Government adopted a decision to transfer the rights certified by the shares of "Zangezur Copper-Molybdenum Combine" closed joint-stock company to trust management. According to the decision, it is proposed to hand over the rights certified by the 6.875 percent shares of "Zangezur Copper-Molybdenum Combine" closed joint-stock company, which is the property of the Republic of Armenia, to the trust management of ANIF. Nikol Pashinyan noted that back in 2021, on September 30, the Government received a donation of 15 percent of Zangezur Copper-Molybdenum Combine shares, and at that time the Government transferred the management of that share to ANIF. "Now on March 24, 2022, we have received another 6.8 percent as donation. At that time, we accepted that donation by a secret decision. Why? Because the donor had a request that his commercial issues be kept confidential. Now they have no need for secrecy, and we hand over that 6.8 percent share to ANIF for management. Starting from March 24, the Government of the Republic of Armenia has a 21,875 percent share, which is a very important event," said the Prime Minister.

The Government approved the basic requirements, procedure and conditions necessary for the implementation of the "Infrastructure in return for investment" assistance measure. Minister of Economy Vahan Kerobyan noted that in the first half of the year, Armenia recorded a high growth in economic activity, which inspires to promote and support investments. “This program aims to help all investors to solve their infrastructure-related problems. Many people who build factories, hotels, make various types of investments, almost always face problems related to infrastructure, be it water pipeline, gas pipeline, road, etc, and with this measure we encourage investors by helping them with infrastructure issues”, the Minister said. Vahan Kerobyan noted that the Government is ready to provide 20 percent of the infrastructure needed by those who invest 500 million AMD, and if the investment is more than 500 million AMD, the Government is ready to provide 10 percent of the necessary infrastructure. Nikol Pashinyan highlighted the adopted decision and noted that he made such a promise in 2019. "It's good that we are going this way, encouraging investments. We, in fact, offer a partnership model and encourage investment based on the size of the specific investment," said the Prime Minister.