ArmInfo. 64.9 billion drams will be allocated from the state budget of Armenia for the needs of the RA Ministry of Economy in 2023 financial year. This was stated on November 1 at the budget hearings in the commissions of the National Assembly of the Republic of Armenia by head of the department Vahan Kerobyan.
However, as the minister noted, this amount can be increased, especially taking into account the development and approval of new programs. At present, Kerobyan continued, work is underway with the Ministry of Finance in the direction of financing approved projects, without waiting for the next financial year. As an example, the minister cited the program of economic modernization, which provides for state subsidization of interest rates on loans attracted by economic entities for the purchase of new equipment or equipment leasing. As of the end of September, more than 320 companies have become beneficiaries of this program. Hundreds of companies are currently negotiating with manufacturers to supply equipment, which will also give them the opportunity to participate in the program and expand their capabilities, production volumes and productivity.
The minister also pointed to a project to subsidize the wages of high-level foreign specialists. We are talking about involving 218 specialists in the work of Armenian companies. AMD 1.057 billion will be allocated for these purposes.
It is envisaged to attract 4 billion drams from the state budget for the implementation of the program to promote the attraction of investments and growth of exports, which will be directed to the project "Infrastructures against investments" approved by the government of the country. That is, the state will subsidize the expenses of companies that make investments for the construction of water pipes, roads, electricity networks and gas communications. More than 100 applications have already been received under this program.
The government of the country will direct to the development of tourism infrastructure, within the framework of which it is planned to sharply increase the volume of the marketing budget. Instead of 200 million drams this year, 1 billion drams will be allocated for these purposes in 2023. Together with the German Development Agency, work is underway to introduce large funds into the development of the tourism sector.
The minister also said that at the beginning of next year, the approval of a program to promote small and medium-sized businesses is not ruled out. In this case, we are talking about starting to implement it, if there are financial opportunities, right from the beginning of 2023.
Kerobyan expressed confidence in overfulfillment of budget indicators and, as a result, in obtaining additional financial resources for new projects. He added that all these and numerous other projects are aimed at providing a 7% increase in economic activity.
