Thursday, 24 January 2013
The State To Keep On Backing SMEs
Today’s cabinet sitting approved a small and medium-size business support program and a timetable for 2013.
As Minister of Economy Tigran Davtyan told the news conference which was held later at the government’s press center, AMD 150m will be earmarked for the program in 2013.
According to the minister, taking another step on the way to boosting small and medium-size businesses, the government highlights the role of SMEs in ensuring economic development, generating new jobs, raising the living standards, shaping a middle class, providing for social and political stability in the country.
The program seeks to provide the tools necessary for SME development, revive the economy of remote and border areas through harmonious management, diversify the national economy, boost employment and self-employment in the country.
Tigran Davtyan advised that 92% of the assistance will be funneled toward the provinces.
“The State will keep on backing SMEs in a specific format,” Tigran Davtyan pointed out.
Note that the share of SMEs in GDP is increasing every year. According to experts, it was 43% as of January 1, 2012.
