From now on, the equalized subsidies provided to communities in 2017 and the years that followed will be calculated and allocated according to the amounts provided in 2016, but not less than those amounts. This is what Deputy Minister of Territorial Administration and Infrastructure of Armenia Vache Terteryan said during a discussion on the bill on making amendments to the Law on Financial Equalization held as part of today’s session of the Standing Committee on Territorial Administration, Local Self-Government, Agriculture and Nature Protection of the National Assembly.

The deputy minister particularly stated that the bill doesn’t envisage any change in the government’s policy on financial equalization.

“The sector-specific policy is targeted at the financial equalization of communities and their proportionate socio-economic development. Implementation will ensure proportionate distribution of subsidies to all communities of the country,” Terteryan clarified.

After the discussions, the bill was approved by the standing parliamentary committee.