Subsidies to communities, except Yerevan and Tsakhkadzor, to increase in 2024

YEREVAN, January 15. /ARKA/. Subsidies provided by the government to communities except Yerevan and the resort town of Tsaghkadzor will be significantly increased in 2024, Armenian Prime Minister Nikol Pashinyan said today. 

According to the Prime Minister, the capital Yerevan and Tsaghkadzor have a huge potential for the growth of their own revenues. 

'Despite this, we will provide equal support to Yerevan and Tsaghkadzor within the framework of specific programs," he wrote on his FB page.

According to the video on the PM's page, the volume of subsidies allocated to Tsaghkadzor in 2024 will amount to over AMD 58.4 billion (a 43.2% decrease from 2023), and to Yerevan - over AMD 8.4 billion (a 37.2% decrease).

In 2023, subsidies worth about AMD 70 billion were allocated to Armenian communities, while the volume of subsidies envisioned for 2024 is more than AMD 85 billion.

Last November, the Armenian parliament adopted the law "On Financial Equalization" in the first reading. The amendments are aimed at changing the system of community financing.

According to the proposed amendments, remote communities will be able to receive more money from the subsidy fund. In addition, an additional 5 million drams - will be allocated to each border settlement. ($1 - 405.35 drams)-0