24 PROJECTS RECEIVE ASSISTANCE OF 17 BILLION DRAMS THROUGH OPERATIVE STAFF OF ARMENIAN GOVERNMENT

NOYAN TAPAN
JULY 9, 2009
YEREVAN

YEREVAN, JULY 9, NOYAN TAPAN. With the aim of overcoming the
consequences of the crisis, the Armenian government is taking measures
aimed at preventing the economic decline and creating some bases for
successful development, RA deputy minister of economy Mushegh Tumasian
stated at the 3-day international conference "The Impact of the Global
Economic Crisis on Armenia: The Shirt-Term and Long-Term Outlooks"
on July 8.

According to him, the anticrisis package includes investment programs
to develop the economy, assistance to businesses and some spheres,
management of big infrastructures and social risks, implementation
of reforms aimed at economic growth. Besides, the reforms of tax and
customs administartion and the identification of new tax revenues
will continue.

M. Tumasian said that the government is also carrying out investment
programs, under which guarantees and subsidies are given to enterprises
that meet the required standards. In his words, the activity of the
Operative Staff set up within the framework of anticrisis measures
is of great importance. In particular, about 300 programs were
examined and 17 billion drams was allocated to 24 projects through
the Operative Staff.

The government is implemenating programs on support of businesses and
some spheres. In particular, the Small and Medium Entrepreneurship
Development National Center (SME DNC) has already made capital
investments of 50 million drams and provided credits of 53 million
drams. The government also plans to subsidize those enterprises which
will initiate big infrastructure-related programs in 2009-2011.

M. Tumasian underlined the necessity of taking such steps that will
allow "receiving benefits from the crisis". "These steps should
ensure development of new quality in Armenia in order to enhance the
competitiveness and transform the economy," he said.

From: Emil Lazarian | Ararat NewsPress