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12.12.2023

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12.12.2023
It is designed to provide a loan of 50 million euros to Republic of Armenia according to Agreement
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The Green, Resilient and Inclusive Development Policy Operation Loan Agreement between the Republic of Armenia and the OPEC (Organization of the Petroleum Exporting Countries) Fund for International Development was signed on October 3 and 23, 2023.

According to the Agreement, it is planned to provide a loan of 50 million euros to the Republic of Armenia.

“The funds will be used to finance the deficit of the 2023 state budget or to meet the need for financing expenses, for which we set a need of 350 million USD in the state budget,” the RA Deputy Minister of Finance Eduard Hakobyan said, presenting the draft law on Ratifying the Green, Resilient and Inclusive Development Policy Operation Loan Agreement between the Republic of Armenia and the OPEC Fund for International Development at the extraordinary sitting of the NA Standing Committee on Financial-Credit and Budgetary Affairs on December 12.

According to the Deputy Minister, since we are dealing with the planned amount of capital expenditures of 550 billion and a deficit of 290 billion drams, in fact, the money will be directed to capital expenditures. They are programmes regarding schools, kindergartens, roads, defense infrastructures, which in turn lead to an increase in the potential of the economy. In addition, a number of key measures resulting from the Government's pgogramme, which have already been implemented and have already been discussed with the World Bank, have become a precondition for budgetary funds.

The reform framework of the programme includes a number of measures.

According to the Deputy Minister, the principal amount will be repaid from October 15, 2028 to October 15, 2042 in the amount of 3.33% of the loan amount, and on April 15, 2043 - in the amount of 3.43% of the loan amount.

The Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan, presenting the observations, proposed to specify exactly what the money will be spent for and for what purpose, which will enable to ensure inclusiveness.

As a result of debate, the Committee endorsed the draft law.


12.12.2023
Committee endorses draft law debated in second reading
At December 12 extraordinary sitting, the RA NA Standing Committee on Economic Affairs debated in the second reading the draft law on Making Amendment and Addendum to the Tax Code of the Republic of Armenia.“The subject of the draft regulation is the improvement of the tax environment of the entitie...

12.12.2023
Certificates handed over to participants of Autumn School
We highly appreciate the programs being implemented for the National Assembly by the International Republican Institute (IRI). The joint implementing programs give good result in terms of the development of the capacities and skills of the Parliament Staff: The Chief of Staff, Secretary General Davi...

12.12.2023
A more favorable tax environment to be formed for entities who use state support programmes in field of agriculture
The purpose of the bill providing for amendment and addendum to the Tax Code of the Republic of Armenia is to create a more favorable tax environment for entities that use state support programmes in the field of agriculture. The RA Deputy Minister of Finance Arman Poghosyan said this at the NA extr...

12.12.2023
Hayk Sargsyan: Citizens who have turned 27 and have not completed mandatory military service will be given opportunity to be useful to state by service or by paying money
The proposed legislative package envisages giving the citizens who have turned 27 and who have not completed mandatory military service the opportunity to enter the military service by simultaneously paying the appropriate amount of money to the RA state budget, or without entering the military serv...

12.12.2023
National Assembly convenes an extraordinary sitting
According to Article 100 of the RA Constitution and Article 41 of the Rules of Procedure of the National Assembly constitutional law, the National Assembly convened an extraordinary sitting on the initiative of the Government on December 12, with three legislative initiatives on the agenda. The draf...



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