The Armenian Ministry of Economy has officially discontinued a program designed to attract high-level specialists due to its lack of effectiveness, according to a recent clarification issued in response to media reports.

The ministry addressed claims circulating in the press that 3.8 billion drams had been spent under the "High Qualification Specialist Involvement" program, only for it to be deemed ineffective afterward. It confirmed that the program was indeed terminated for this reason.

“The aforementioned program has been operational since 2022 and was initially managed by the National Center for Innovation and Entrepreneurship,” the statement said. “After Gevorg Papoyan was appointed Minister of Economy, the program was transferred to the ministry, and he immediately ordered a review of its effectiveness.”

The review concluded that the program's impact on economic development was significantly below expectations, leading to the decision to terminate it. The minister also directed that the allocated state funds be redirected toward higher-priority areas with greater public demand and proven effectiveness.

As for the funds already disbursed under the program, calculations are currently being revised based on the minister’s instructions.

“We once again reaffirm that for Minister Gevorg Papoyan, the efficient use of public resources is a top priority and is not open to compromise,” the statement concluded.