Politics
50 million euro budget support loan to build schools, kindergartens, and roads
The National Assembly is debating the draft law on ratifying the "Green Resilient and Inclusive Development Program" loan agreement between the government and the OPEC International Development Fund.
According to Deputy Finance Minister Eduard Hakobyan, the agreement envisages attracting a loan with budgetary support for 50 million euros.
"The funds will be directed to 2023. financing the deficit defined by the law on the budget or meeting the need for financing expenses, for which the National Assembly approved the attraction of 350 million dollars in budget support loans by the state budget."
The deputy minister noted that there is a critical circumstance here. Considering that the planned capital expenditure of 550 billion drams exceeds the 290 billion deficit, these funds will be directed to capital expenditures, including schools, kindergartens, roads, and other infrastructure, which, in turn, have a somewhat positive effect on the economy and a potentiating effect.
The National Assembly adopted the project with 61 votes in favor and 26 against.
