YEREVAN, MAY 8, ARMENPRESS. Through legislative changes, Armenian commercial banks were enabled to pardon fines and penalties of 20,000 citizens who had unpaid loans, a total of 11,5 billion drams, Prime Minister Nikol Pashinyan said at a press conference on his 1st year in office.

The PM was presenting 100 facts on reforms.

He said the loan history of nearly 125,000 people has been cleared. 1 billion 300 million drams in loans that were issued preferentially to 303 repressed people and their descendants have also been pardoned.

Pashinyan noted that during this period the Government of Armenia has granted 49 companies custom tax exemptions, 15 of which received additional VAT payment delay privileges, as a result of which nearly 255 billion drams is invested and 4000 workplaces are created. An additional 7 investment programs have been granted VAT delay opportunities to invest nearly 21 billion drams and open 444 workplaces, he said.

Pashinyan also highlighted the “unprecedented” decision on 50-70% spending return to SMEs who operate “smart” farms.

The Armenian PM also emphasized the business training courses in provinces, whereby 120 new businesses have been opened, 56 of which have received governmental financial support.

Edited and translated by Stepan Kocharyan