Armenia`s financial assistance to Artsakh in 2021 reached about $ 415  million

ArmInfo.Armenia will provide another financial assistance to Artsakh in the amount of 13 billion 533 million drams. The corresponding decision was made on November 25  at the meeting of the RA government.

As Minister of Finance of Armenia Tigran Khachatryan stated,  presenting the document, 1.4 billion drams will be directed to cover  utility costs (for gas, electricity and communication services) of  Artsakh residents for December this year (1,446,565.0 thousand drams  will be allocated to the government of the Republic of Artsakh on the  basis of a donation agreement, ed. note).

An amount of 12 billion drams (12,086,747,300 drams) will be  allocated to the Artsakh government as part of an interstate loan at  an interest rate of 0.001% per annum, with a maturity date of January  1, 2025.

In particular, 6,499,700.0 drams will be allocated for the payment of  wages and allowances, 1,226,526.2 drams will be allocated for the  payment of pensions, 349,355.0 drams for benefits, 491,400.0 drams  for subsidies to communities, 1,446,565.0 drams will be used to  subsidize December payments for gas and electricity, 573,308.2 drams  -for healthcare. As well as 587,560.0 drams will be allocated for  social and educational programs, and 680,950.0 drams for cumulative  deductions.

The head of the Ministry of Finance of Armenia said that since the  beginning of this year, Armenia's financial assistance to Artsakh  within the framework of various programs and additional deductions  amounted to about 120bln 400mln drams. In addition, on a monthly  terms, the RA state budget also covered utility costs of Artsakh  residents and the payment of salaries, benefits, pensions, financed  the costs of the healthcare sector and social educational programs.  In total, financial assistance reached 134 billion drams.  

Earlier, ArmInfo reported that in 2022 Armenia will more than double  the size of the interstate loan provided to the Republic of Artsakh on  favorable terms. As stated in the draft law "On the state budget of  the Republic of Armenia for 2022", next year the state treasury of  Armenia will send 144 billion drams or 291.7 million US dollars (the  estimated rate of the Armenian dram to the dollar is 493.6 drams), in  the form of an interstate loan, against 64.8 billion drams (131.2  million US dollars), set by the state budget for 2021.  It should be  noted that the size of the loan for next year in the draft budget for  2022 in the version that was approved by the government on September  30 was registered at the level of 144.5 billion drams.