YEREVAN. – The state budget will аллоцате AMD 10.3 billion ($27.5) for scientific research for the next year instead of AMD 9.4 billion this year, Head of State Committee of Science adjunct to the Ministry of Education and Science Samvel Harutyunyan said at a press conference on Monday.

As a result of additional financing, salary will rise by 7%, international programs will receive support.

Harutyunyan said that investments of the private sector should grow. In comparison with developed states, private sector finances science by 75%, while in Armenia state does it by 70-75%.

Armenia held contest for the first time this year, where 43 innovation projects participated. Majority of them were finances by the private sector.

“The more the state invests in science the less it is developed,” Harutyunyan said.