YEREVAN. - The Armenian authorities should save farmers from a debt pit.

Head of the Armenian National Congress (ANC), Levon Zurabyan, stated the aforementioned in the National Assembly (NA) Tuesday.

In his words, tens of thousands of farmers cannot square accounts with banks, which have pinned extortionate interests on them. The debt of some farmers already exceeds the main amount of their loan by 2-3 times. There is also little hope on the sale of the harvest. Here monopolists dictate prices to them, buying everything at half prices and thus making a fortune. “To prevent new days of impoverishment and deflux of people from the country, the ANC demands that the authorities redouble the subsidies for farmers’ loans. All the currency loans should be converted into dram ones. As to all the farmers’ loans, they should be restructured and the period of their extinguishment should be set for 5 years.

In fact, the interest payments in case of overdue loans should be entirely cancelled, with 8 percent lending ceiling being set for all the rest,” Zurabyan noted.