Armenian government to allocate AMD 870 mln to subsidize grape purchases

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19.10.2023, 18:00

The Armenian government decided today to allocate 870 million drams for subsidizing grape purchases.

Armenian government to allocate AMD 870 mln to subsidize grape purchases

YEREVAN, October 19. /ARKA/. The Armenian government decided today to allocate 870 million drams for subsidizing grape purchases.

The funds will be provided to the Ministry of Economy to subsidize purchases of grapes by economic entities which bought from 6,000 to 9,000 tons and from 15,000 tons and more.

According to the Ministry of Economy, the surplus grapes in Armavir and Ararat provinces this year is estimated at about 65 thousand tons.

Also, the government will provide Hay-Almast CJSC a budgetary credit of 2 billion drams for purchasing up to 1 million liters of Armenian brandy alcohol of at least five-year ageing. The loan is granted for two years at 0.01% per annum. -0-

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