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Government Is In Panic

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  • Government Is In Panic


    Those beneficiaries of benefits for civil servants who want to spend
    the benefit on travel will have to borrow money. Civil servants and
    employees and teachers complained to that they were informed
    that in order to use their benefit on travel, they will have to borrow
    the money from banks.

    Note that the benefit of civil servants is an annual lump-sum payment
    of 132,000 AMD. Half of the sum is for mandatory medical insurance.

    The rest can be spent for three purposes. The money is not disbursed
    to the beneficiary. The three purposes are a mortgage loan installment,
    tuition fee and a trip to Armenia or Artsakh.

    The minister of finance Vache Gabrielyan said at the beginning of this
    year that the policy has been improved, and the amount of beneficiaries
    has increased by 30,000. The beneficiaries receive 11,000 AMD to their
    bank accounts every month. If the beneficiary does not spend the money,
    it is rolled over to the next year, as the government promised. Vache
    Gabrielyan says this year 21.1 billion AMD will be directed to the
    program instead of last year's 15 billion.

    The beneficiaries who receive approximately 50 to 120 thousand AMD
    per month are dissatisfied with the policy. They note that they are
    forced to borrow money from banks for their holidays.

    We learned from a government official that those people who want to
    spend the money for their holidays will have to borrow money from the
    bank because tour operators do not accept the government's condition
    to disburse money in monthly installments.

    Usually, people go on holiday in July-August when only part of the
    benefit has been transferred to people's bank accounts. So people
    will have to borrow money to go on holiday which will later be repaid
    by the government but interest will have to be paid either by the
    government or by the beneficiary.

    Our source said that according to the agreement with the banks,
    the interests should be the lowest - 12-14%. Negotiations with tour
    operators are still going on. The government hopes they will agree
    over monthly payments.

    By the way, our sources say that this issue has sent the government
    into a panic. The authors of the benefit are trying to return the
    previous arrangement of lump-sum disbursement.

    Roza Hovhannisyan 16:41 24/06/2013 Story from News: