Armenian government to keep on subsidizing diesel fuel price
25.01.2018,
16:27
The government of Armenian will continue to subsidize the price of diesel fuel for Armenian farmers despite its rise, Minister of Agriculture, Ignaty Arakelyan, told journalists on Thursday after the government session.
YEREVAN, January 25. /ARKA/. The government of Armenian will continue to subsidize the price of diesel fuel for Armenian farmers despite its rise, Minister of Agriculture, Ignaty Arakelyan, told journalists on Thursday after the government session.
On January 1, 2018 the excise tax on compressed natural gas used as fuel by almost 70 percent of vehicles in Armenia has been increased from 8,330 drams (about $17) to 25,000 drams (about $ 50) per one thousand cubic meters. The excise tax on diesel fuel was reduced from 32,500 drams ($66) to 13,000 drams (about $ 26) per one ton, but instead VAT was introduced.
"Although the government did not plan to subsidize the increased price of diesel fuel, after analyzing the situation on the market, we decided to continue subsidizing the price for the agricultural sector in 2018," Arakelyan said.
He said the mechanisms and the amount of subsidies are being specified now. In his words, the government will do everything to keep the cost of diesel fuel at 380 drams per liter, ‘but we need to wait for the market to stabilize and estimate the government's resources that it can allocate for this program,’ said Arakelyan. (1 $ - 480.77 drams). -0-
On January 1, 2018 the excise tax on compressed natural gas used as fuel by almost 70 percent of vehicles in Armenia has been increased from 8,330 drams (about $17) to 25,000 drams (about $ 50) per one thousand cubic meters. The excise tax on diesel fuel was reduced from 32,500 drams ($66) to 13,000 drams (about $ 26) per one ton, but instead VAT was introduced.
"Although the government did not plan to subsidize the increased price of diesel fuel, after analyzing the situation on the market, we decided to continue subsidizing the price for the agricultural sector in 2018," Arakelyan said.
He said the mechanisms and the amount of subsidies are being specified now. In his words, the government will do everything to keep the cost of diesel fuel at 380 drams per liter, ‘but we need to wait for the market to stabilize and estimate the government's resources that it can allocate for this program,’ said Arakelyan. (1 $ - 480.77 drams). -0-
