Armenian government approves economic stabilization program in fringes of Russian credit

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.