Thursday, January 19 2023 11:10

ArmInfo.A total of 901 transactions to the amount of over AMD 56bln were effected under the economic modernization programme last year, Armenia's Minister of  Economy Vahan Kerobyan reported in a Facebook message. 

Last December alone, economic entities signed 223 contracts to the  amount of AMD 11bln. 

"I can state with confidence that the programme enables us to  seriously accelerate productivity rates, which is a guarantee of out  companies' competitiveness," he wrote. 

The economic modernization programme was launched early last year.  The first component provides for compensating companies' expenses,  leasing promotion, subsidizing the interest rates of loans for  replacement of fixed assets, including production lines. Under the  programme, in case of loan agreements, the government subsidizes 7%  in AMD terms and 6%, and in case of leasing contracts, 10% in AMD  terms and 8% in foreign exchange terms.