Thursday, 8 July 2010
Economy keeps on getting credits
Chaired by Prime Minister Tigran Sargsyan, the Government met in a regular session at the Office of Government.
The meeting amended a previous decision to allocate AMD 5,000,000.0 from RA State budget (from the stabilization deposit account) for 2010, from the proceeds of the Russian loan as approved by the government decree of June 26, 2009 on the program of economic crediting with the purpose of financing the first component of the program of economic stabilization lending. Prime Minister Tigran Sargsyan said in this connection that as early as last year the Government established clear-cut rules and procedures for program crediting with a view to stimulating exports and developing tourism at home. The program proved quite successful in the period under review with 8.8 percent growth recorded over the past few months. Based on the above, the Government deemed it expedient to allocate additional AMD 5bn to the CBA under this program.
The Government operated budget redistributions for 2010 by amending a previous decision to allocate AMD 558000.0 thousand to the Ministry of Agriculture for the purchase of elite wheat seeds from domestic and foreign producers. The program will help extend wheat crop areas to 115-120 thousand hectares by the year 2014 to take wheat self-sufficiency from the current 37% up to 55%. Prime Minister Tigran Sargsyan noted that high-quality seeds have not been imported into the country for the last few years. It is the first time the Government has been allocating tangible sums for seed-growing purposes in order to produce up to 3 thousand tons of seeds annually. Wheat seed demand is thereby supposed to be met within some for 3-4 years ahead. The head of government noticed that high-quality seeds will have to be sown in premium-quality land if we are to achieve the expected outcome.
The Government decided to redeem part of those buildings belonging to RA NAS Institute of Thin Organic Chemistry after A. L. Mnjoyan at Azatutyan – 26, Yerevan for free transfer to the Union of Yerevan State University Graduates NGO to build multipurpose and multi-room residential buildings under the Affordable Housing for Young Researchers and Artistic Union Members program. The matter has been taken up and approved by the President of the Republic of Armenia.
The Union of Yerevan State University Graduates NGO has similarly initiated a welfare program in the regions referred to as Housing Support for Young Families under the first stage of which a multi-room building will be built in Kapan town. The complex will offer some 300-320 apartments badly needed by hundreds of young households. To this end, the Government authorized the head of Kapan town hall to rent to the foregoing NGO with the preemptive right of purchase the municipality-owned ground area at Arzumanyan - 111/1 in Kapan.
The Government approved the program of medium-term State expenditures for 2011-2013. The Cabinet next approved the 2011-2013 strategic program of public debt management obliging the Minister of Finance to include it in the aforementioned program of medium-term expenditures.
The Government agreed to the proposal on signing an agreement between the Government of the Republic of Armenia and the Government of the People’s Republic of China on mutual recognition of higher education certificates, scientific degrees and ranks. The Government also agreed to the proposal on signing an agreement between the Government of the Republic of Armenia and the Government of the Estonian Republic on application of an entry visa-free regime for persons having diplomatic passports.
In conclusion, the Government decided to appoint Sergey Bagratyan to the post of Vaiots Dzor Marz Governor. Tigran Sargsyan congratulated the newly appointed governor and wished him fruitful work.
