ARMENIAN GOVERNMENT AIMS TO IMPLEMENT ESSENTIAL INFRASTRUCTURE PROGRAMS

ARKA
June 5, 2009

YEREVAN, June 5. /ARKA/. The RAS Government’s anti-crisis policy
includes new programs of maintaining essential infrastructures,
RA Prime Minister Tigran Sargsyan stated during a lecture entitled
"Armenia’s fiscal and monetary policy before crisis and now" as part
of a series of lectures for young specialists "Crisis as a chance".

"Specifically, the matter concerns the construction of 800-1000km
of highways in 2009-2012 under 100bln AMD worth road construction
projects," he said.

T. Sargsyan also pointed out 75bln AMD housing construction in the
disaster zone (the area destroyed by the Spitak earthquake in 1988),
including the construction of Masters’ Town, renovation of the
irrigation and drinking water systems (100bln AMD), funds from the
WB and the Mortgage Fund (10bln AMD), as well as the construction of
a new nuclear-power plant and railway.

"This all requires considerable investment," the Premier said.

T. Sargsyan also said that the RA Government plans selective assistance
to enterprises that encountered difficulties to enable them to remain
economically active, which, in turn, will promote economic growth.

"A task group is working at the Government to support such enterprises
and consider various programs and applications, provide necessary
funds and guarantees," the Premier said.

Am ong the components of the RA Government’s expansionary policy,
Premier Sargsyan included assistance to small-to-medium businesses
through the improvement of business environment and removal of
obstacles to businesses.

"Using the business opportunities of the banking system, the
Government implements credit programs for SMB and provides guarantees
to commercial banks for them to fund investments programs in the
construction sector," T. Sargsyan said.

The Premier pointed out numerous privileges for small-to-medium
businesses aimed to promote the sector’s development.

"We speak of the previously granted tax benefits. Specifically, the
minimum VAT is 58mln AMD, and the SMBs with turnovers within this
limit are exempted from VAT," Sargsyan said.

From: Emil Lazarian | Ararat NewsPress