ArmInfo. Within the next 1-2 days, the Armenian government will present for public discussion a program of anti-crisis measures to overcome the coronavirus situation and the situation in global markets. The Prime Minister of Armenia Nikol Pashinyan stated this at a government meeting on March 19.
According to him, after discussions and the proposals and comments received, the draft program will be supplemented and submitted for approval by the government. The Prime Minister stated that the proposals of a number of politicians and economists on the application of the tax vacation mechanism is a bad idea. The country's cabinet offers a different approach, which is associated with the introduction of new loan portfolios. In particular, the country's government will finance 50% of loans attracted by business entities, another 50% will be provided by commercial banks and credit organizations of the country. Moreover, government loans will be provided on an interest-free basis. Moreover, Nikol Pashinyan continued, interest rates on loans provided by commercial banks and credit organizations will also be repaid by the RA government. Thus, as Nikol Pashinyan noted, loans will be attracted on interest-free terms.
Loans can be attracted to pay salaries to employees, but not more than 500 thousand drams per employee and not more than three months. Subjects will have the opportunity to attract loans for the supply of raw materials, but provided that all these raw materials will be directed to the manufacture of the final product in Armenia and expansion of production. It is also envisaged to finance programs for the purchase of equipment and machine tools, including agricultural ones, provided that the organization and expansion of production in the Republic of Armenia are organized. The program also provides for compensation of expenses for the used electricity, gas and water, but not more than 5 million drams and no more than three months. Entities involved in trade will be able to count on obtaining loans for the supply of food products if these goods are sold on the territory of the republic. Also among the possible recipients of loans may be entities that supply fertilizers, seeds and diesel fuel.
Credit resources, as Nikol Pashinyan noted, will be provided on certain conditions. In particular, the government of the country will provide them exclusively in drams, commercial banks can also in currency. Each loan is valid for 24 months. The maximum size is 500 million drams, and with co-financing or refinancing - no more than 250 million drams. Funds will be provided exclusively in non-cash form through commercial banks of the country. The maximum integral percentage is from 0 to 6%, depending on the conditions of the country's government.
