ArmInfo. As of December 1 of this year, the portfolio of the program for modernization of the economy aimed at stimulating production amounted to 341 billion drams. According to the press service of the Ministry of Economy, the portfolio demonstrated a 75.7% growth over the year and a 3.3% growth over the month.
In particular, as of the reporting date, 6,559 contracts were concluded, of which 68% were leasing transactions and 33% were credit transactions, 63% were dram transactions and 37% were foreign currency transactions. It is noteworthy that 82% of the portfolio is represented by financing of the SME sector. According to the source, the lion's share of the program's beneficiaries comes from the manufacturing sector (42%), followed by construction (23%), electricity, gas, steam and air conditioning supply (10.8%), transportation and warehousing (8.3%), healthcare and social security (7.3%), information and communications (3.7%), mining and quarrying (2.1%), etc.
Among the borrowers, the most active are business entities from Yerevan, which account for 63.7%, 11.1% - Kotayk region, 4.7% - Ararat, 4% - Gegharkunik. In other regions of Armenia, activity is low.
The economic modernization program was launched in early 2022. The first component of the program involves reimbursement of financial costs to companies, leasing, subsidizing interest on loans for the modernization of fixed assets, including production lines. Within the framework of the program, the state subsidizes 7% in drams in the case of a loan agreement, 6% in foreign currency, in the case of leasing agreements the subsidy in drams is 10%, in foreign currency - 8%.
The program can be used by business entities in the following sectors: agro-industrial complex, mining industry, construction, telecommunications, professional, scientific and scientific-technical activities, healthcare, etc.
