ArmInfo. For 2021, the Ministry of Economy of Armenia has set 2 goals for itself - increasing the productivity of enterprises and the competitiveness of the economy. The Minister of Economy of the Republic of Armenia Tigran Khachatryan stated this on November 3 during the discussion of the draft budget of the RA for 2021.
He stressed that in 2020, the Armenian economy faced 2 challenges - a pandemic and a war, the impact of which is inevitable in 2021. In this context, the minister noted that the coronavirus has made adjustments to the government's programs aimed at developing SMEs, tourism, stimulating investment, and martial law has created new challenges that the private sector is facing and will face next year.
He said that by the state budget for 2021, the amount of financing provided by the Ministry of Economy will be 18.4 billion drams, which does not significantly differ from the amount of funding provided for the current year. The operating costs of the Ministry will reach 2.1 billion drams, which is slightly higher than the volume of 2020, which is associated with a natural change in wages, in the manner prescribed by law.
138 million drams will be allocated from the state budget to finance the representatives of the RA in various international organizations, 70 million drams will be allocated for economic research. Due to the fact that in 2021, special attention will be focused on stimulating foreign investment, 867 million AMD will be allocated to create platforms for establishing relations with foreign investors for the implementation of investment programs. A total of 520 million drams are provided by the state budget to assist SMEs, in addition, the business will be provided with the necessary consulting, trainings, professional retraining courses, and work will be done to increase the availability of financial resources for start-up businesses.
