ARMENIAN GOVERNMENT APPROVES ECONOMIC STABILIZATION PROGRAM IN FRINGES OF RUSSIAN CREDIT

/PanARMENIAN.Net/
26.06.2009 16:47 GMT+04:00

/PanARMENIAN.Net/ The Armenian government at the recurrent sitting in
Syunik region approved a credit program on economic stabilization of
the country by allocating means from the Russian credit, press office
of the government reports.

That program will promote the GDP growth by partially satisfying
needs of business entities in credit means. The total amount of the
program is 90 billion AMD and the funds will be provided through
budget loans. In the framework of that program 60.5 billion AMD will
be allocated to credit banking sphere of the country, 6.4 billion
AMD will support small and medium business entities, 23.1 billion
AMD will be directed to lend infrastructure enterprises.

"The public now pay attention to how the Russian stabilization credit
is used. Another 24 billion AMD will be directed to the earthquake
zone, the rest of the money will remain in the stabilization fund,"
RA prime minister Tigran Sargsyan said.