Thursday, July 9 2020 12:59

ArmInfo.  As of today, one  application for participation in the program has been satisfied  subsidizing interest rates on preferential loans attracted by  business entities; two more applications are under consideration. On  July 9, Deputy Prime Minister Mher Grigoryan stated this at a meeting  of the RA Government.

According to him, the program started on June 20. The beneficiaries  of the program may be those business entities that during 2020, the  authorized capital of their companies will increase by 50 million  drams. In this case, they will be able to count on attracting  additional credit resources in the amount of up to 400 million drams  for up to 36 months. And if the authorized capital is increased to  100 million drams, the amount of borrowed funds can be increased to  500 million drams for a period of up to 48 months. In all these  cases, the state will almost entirely finance interest rates.

In addition, as the Deputy Prime Minister noted, tax reform also  plays an important role, one of which is a change in the line of  income tax, which made it possible for business entities to save  about 64 billion drams annually, which they can use to develop their  own industries. Moreover, as Mher Grigoryan noted, this reform is not  anti-crisis in nature, it will be applied continuously.