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Total Amount Of Financial Equalization Subsides For Armenian Communi

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  • Total Amount Of Financial Equalization Subsides For Armenian Communi

    TOTAL AMOUNT OF FINANCIAL EQUALIZATION SUBSIDES FOR ARMENIAN COMMUNITIES TO MAKE 32.5 BILLION DRAMS IN 2010

    NOYAN TAPAN
    NOVEMBER 2, 2009
    YEREVAN

    YEREVAN, NOVEMBER 2, NOYAN TAPAN. The total amount of financial
    equalization subsides for Armenian communities, including state
    compensation to communities under the RA Law on Local Self-Government,
    will make 32.488 billion drams in 2010, which exceeds the amount
    approved by the 2009 state budget and the respective annual consumption
    index by 4.65 billion drams or 16.7%. First Deputy Minister of Finance
    Pavel Safarian announced this at the November 2 joint sitting of the
    RA National Assembly Standing Committees.

    It is envisaged distributing subsidies of a total of 32.41 billion
    drams to communities by the financial equalization principle in
    accordance with the RA Law on Financial Equalization. A new system
    of financial equalization will be introduced in order to improve the
    efficiency of state financial assistance to the budgets of Armenian
    communities and to mitigate the current polarization among communities
    with various financial capacities.

    The 2010 draft state budget envisages environmental subventions of
    201.4 million drams for communities and subventions of 6.4 billion
    drams to assist with the implementation of projects of the Yerevan
    city community.

    Environmental subventions of 201.4 million drams will be given to a
    number of urban and rural communities in Syunik, Lori, and Kotayk
    Marzes which are subjected to harmful impact as a result of the
    operation of Zangezur Copper and Molybdenum Enterprise CJSC, Agarak
    Copper and Milybdenum Enterprise CJSC, Armenian Copper Program CJSC,
    Mika Cement CJSC, and Dzulakentron OJSC in Charentsavan.

    The draft budget calculations are based on the settlement exchange
    rate of 376 drams per dollar.

    From: Emil Lazarian | Ararat NewsPress
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