Nearly 4,000 Armenian citizens took advantage of social credit system to receive compensation for education and medical expenses

YEREVAN, February 17. /ARKA/. The system of social refunds (so-called “social credits”) is applied in Armenia in parallel with the introduction process of universal income declaration system, Armenian Deputy Finance Minister Arman Poghosyan said.

“This system envisages compensation of citizens' expenses in two main directions - education and healthcare by refunding a part of income tax paid by them,” Poghosyan noted at a press conference on Monday.

The deputy minister said that at the moment the education component covers all levels of education - preschool, school, university, and postgraduate institutions, while the healthcare component will include a health insurance policy.

“The amount of refundable funds respectively in education - up to 100,000 drams per year, health care - 50,000 per year, but with the condition that eventually the maximum threshold will be 100,000 drams,” Poghosyan said.

According to him, it was decided to expand the scope of reimbursement to include sports, music, dance centers, extra education institutions, school textbook rentals and dental service. Some 3,800 people used the social credit system during 2024 and 340 million drams were returned to them,” Poghosyan noted. ($1 - 398.27 drams).