Armenia’s government to direct 150 billion AMD to country’s economy: PM

We must definitely assist our economy, Armenia’s Prime Minister Nikol Pashinyan said in an interview with Shant TV, adding that the government will direct 150 billion AMD to the economy.

“The question is how and to what branches. While making such decision we must focus not on the past but on the future,” Pashinyan said.

The head of the government also said about a package prepared by the government.

“This package will start operating in a few days and be applied practically. We want to undertake measures not only to assist business but concrete people too,” he said.

“In the first phase we will allocate 25 billion to the program and will tell the companies who will take AMD loans from Armenian banks that we will co-finance 50% of the loan with 0% interest rate and will subsidize the percentage of the bank sector for it to be 0% too,” he said.

The head of the government also stressed that it is a good time to seriously assist the agriculture.

“We have put an issue to rapidly subsidize the loans in the agricultural sector to make them 0%,” he said, stressing that they will encourage people to engage in agricultural works.

“Agriculture is a right sector for making investments,” Pashinyan said.