The Armenian government will cover the 84 million dram profit tax owed by the Armenian National Interests Fund (ANIF), according to a decision made during the May 22 cabinet meeting, CivilNet reports.

The government noted that ANIF lacks the necessary resources to fulfill its tax obligations. The company was originally scheduled to be dissolved by the end of 2024, but the liquidation commission has not yet been formed, and no measures outlined in the corresponding government decision have been implemented.

According to the official justification, the move is in the state’s interest, aiming to optimize public administration and facilitate the separation and privatization of unprofitable and ineffective organizations with no development prospects.

Tigran Avinyan, current Yerevan Mayor and former chairman of ANIF's board of directors, had once described the fund as “a company that laid the foundation for the most important, largest, and most promising projects.” Nonetheless, the government decided to proceed with its dissolution during its May 23, 2024 meeting.