ArmInfo. On October 23, under the chairmanship of Prime Minister Nikol Pashinyan, the government of Armenia held discussions on applications for budget financing of state departments. Today, applications for budget financing by the Ministry of Economy for 2020 were discussed.
According to the press service of the Prime Minister, the applications were discussed taking into account the main tasks of the departments, requiring urgent resolution of issues, priorities, as well as ongoing reforms.
In particular, issues of ensuring economic growth, improving the business environment, stimulating SMEs, developing international economic cooperation, improving the quality of tourism infrastructures and activities aimed at reforms in the field of agriculture were raised.
The Prime Minister noted the importance of the productive and coordinated work of the Ministry of Economy in the above areas, and the targeted nature of the costs. In accordance with this, during the discussion, the Prime Minister gave the heads of departments specific instructions.
Earlier, ArmInfo reported that according to the draft budget for 2020, the Ministry of Economy of Armenia will receive 33.196.3 million drams from the state treasury next year. 183.1 million drams out of the specified amount will be directed to activities to manage and coordinate the programs of SMEs (the same amount was allocated in the current financial year). The ministry will direct 528.0 million drams to stimulate exports and investments, compared to 1072.1 million drams in 2019. Allocations for tourism development programs also reduced by 86.4 million drams - up to 200.0 million drams. 2.151.0 million drams will be allocated for subsidizing agricultural loans, against 2.030.8 million drams this year. The authorities will send as much as 998.9 mln drams to the loans subsidizing companies during the procurement season. Appropriations for measures to implement the agricultural insurance system will increase - from 500.0 million drams in 2019 to 600.0 million drams in 2020.