SOCIAL BENEFITS REDUCTION IS NOT EXPECTED

Aysor
Oct 26 2009
Armenia

‘Loan funds received by Armenia’s Government from international
organizations were not used for providing the social benefits,"
said at today’s press-conference head of the State Welfare System,
Vazgen Khachikyan. He also mentioned that Armenian State budget allows
pension payments.

Vazgen Khachikyan said the despite the global crisis and its influence
on Armenian economy as well as on revenues, up to now there were not
confirmed any tension in payment of pension and benefits.

"The loan funds were mainly aimed at revitalizing the economy, and
this has already provided positive trends including bring to a stop
the decline in production," he said expressing a hope that in 2010
Armenia will experience growth by 1-2%.

Due to crisis just a single change related to pension reform has
appeared: "These reforms will be postponed at least a year," said
Vazgen Khachikyan adding that Armenia will move to accumulative
pension system not in early 2010 but in 2011.

He assured that reduction of social benefits and pension is not
expected next year while some increase will probably appear.