Armenia distributed 84,4 billion drams within framework of anti-crisis measures

YEREVAN, MAY 16, ARMENPRESS. The Armenian government distributed a total of 84,4 billion drams on the sidelines of its anti-crisis measures between 48,400 legal entities and nearly 1,1 million individuals, Prime Minister Nikol Pashinyan said during a press conference today, presenting 100 facts about the new Armenia.

The PM firstly reminded that the government has adopted a total of 18 anti-crisis measures to eliminate the socio-economic consequences of the novel coronavirus (COVID-19).

“Within the framework of the anti-crisis measures a total of 84,4 billion drams have been distributed as of today, which were used by 48,400 legal entities and nearly 1 million 100 thousand individuals. With the first anti-crisis measure the government subsidized the interests rates of loans worth 31,7 billion AMD received by 513 economic entities. The loan received for paying salaries and taxes has been subsidized completely, in other words, the loan is available at 0%, the expenditures for raw materials, equipment, utility bills and good were subsidized by 6-10%, this means that the loan is available at 2-6%”, the PM said.

According to the 2nd anti-crisis measure, the government subsidized the interests rates of agricultural loans worth 11,6 billion AMD of 8,195 economic entities and individuals completely, the loan is available at 0%. Pashinyan added that the government has also provided 6 billion drams to the banking system to provide agricultural loans. “As we had a crisis situation, and the banks were seeing greater risks for providing agricultural loans, we have provided 6 billion drams from the budget to the banks so that they can provide loans to the rural people. Later the banks must return these sums to the government”, Nikol Pashinyan said.

With the 3rd anti-crisis measure the Armenian government subsidized the privileged loans worth 8,3 billion AMD of 744 economic entities which have a 24-500 million AMD annual turnover.

The Armenian government on May 14 made a decision to extend the coronavirus-related state of emergency for another 30 days, until June 13.

According to the latest data, the number of confirmed coronavirus cases in Armenia has reached 4,283. 1,791 patients have already recovered. 55 death cases have been registered.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan