YEREVAN. – Over the past 1.5 years, the Government of Armenia has drawn in $1.5 billion for long-term development of the country.

Deputy Prime Minister Vache Gabrielyan, who is also the Minister of International Economic Integration and Reforms, on Tuesday stated the abovementioned in the National Assembly.

But he stressed that this amount of money refers to the agreements, and not all of these funds have yet been received.

Nonetheless, as per Gabrielyan, the Armenian economy has already used $146 million of this amount, and these funds were channeled toward the implementation of long-term programs.

“We have funds for the current expenses,” the minister added.

He noted that the abovementioned $146 million were used toward project funding and budget support.

“On what were they specifically spent?” Vache Gabrielyan asked and continued: “On roads, electric [power] transmission lines, [and] irrigation systems; this is the best way to stimulate the economy. The inclusion of these means bespeaks the international financial organizations’ high trust in Armenia.”