Social benefits reduction is not expected

‘Loan funds received by Armenia’s Government from international organizations were not used for providing the social benefits,” said at today’s press-conference head of the State Welfare System, Vazgen Khachikyan. He also mentioned that Armenian State budget allows pension payments.

Vazgen Khachikyan said the despite the global crisis and its influence on Armenian economy as well as on revenues, up to now there were not confirmed any tension in payment of pension and benefits.

“The loan funds were mainly aimed at revitalizing the economy, and this has already provided positive trends including bring to a stop the decline in production,” he said expressing a hope that in 2010 Armenia will experience growth by 1-2%.

Due to crisis just a single change related to pension reform has appeared: “These reforms will be postponed at least a year,” said Vazgen Khachikyan adding that Armenia will move to accumulative pension system not in early 2010 but in 2011.

He assured that reduction of social benefits and pension is not expected next year while some increase will probably appear.