Armenia to compensate AMD 1.6 BLN to former USSR Sberbank depositors in 2013

YEREVAN, October 24./ARKA/. Armenia will allocate 1.6 billion drams in compensations payments to individuals in 2013, whose deposits remained frozen in the former Sberbank of the USSR, Armenia’s Minister of Labor and Social Affairs Artem Asatryan said at the government hour in the parliament Wednesday.

As of October 2012, 53,500 individuals have received compensations, according to him. 

“Over the past six years the state budget expenditures on these compensations totaled 5.5 billion drams,” he said.

The first phase of this program will have been finished in 2013. After this, the responsible bodies will continue its implementation, and the program will expand over the rest of the population.

On 16 March 2006, Armenia’s government approved the compensation program for the former USSR’s Sberbank depositors, who deposited their money till 10 June 1993.

Only those depositors, who were receiving family allowances from 1 July 2005 to 1 April 2006, are eligible for the compensations. Beneficiaries belonging to socially vulnerable groups will receive the compensation earlier than the other groups. Particularly, individuals of over 70 years old, included into family allowance beneficiaries program, will receive compensation payments during the first phase of the program. ($1 – 405.92 drams).—0-