YEREVAN. – Pursuant to the draft budget of Armenia, the state apparatus expenditures will be reduced by 300 million drams (about US$360,000).

Finance Minister Vardan Aramyan on Tuesday announced the aforesaid at the National Assembly, as he presented the revised bill of the 2017 State Budget.

Consumer loans without collateral up to AMD 2,000,000 Up to December 30 consumer loans without collateral up to AMD 2,000,000 will be granted only with annual interest rate of 19-20%

He recalled that it has officially been decided to shut down four project implementation units (PIUs) in Armenia.

But, as per Aramyan, this progress is still in progress, and, simultaneously with the closing of other PIUs in the country, savings will increase and formally be included in the budget.