YEREVAN. – The Government of Armenia will increase the 2016 State Budget expenses by 8.8 billion drams (about $18.5 million), Minister of Finance, Vardan Aramyan, said at Thursday’s Cabinet session.

“Within the framework of targeted loan and grant programs, the government will increase the co-funding by 4.6 billion drams [(about $9,579,000)], which will partly be returned one way or another, in the form of taxes,” added the minister.

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Furthermore, the annual amount envisioned by the expenditure plan for the reception of foreign delegations is planned to be increased by 30 million drams (about $62,000), and by way of redistribution.