YEREVAN. – At Thursday’s Cabinet meeting, the government of Armenia approved the 2018-2021 plan for the sale of the precious items in the government reserve fund.
The Minister of Finance, Vardan Aramyan, introduced the respective draft decision.
In the minister’s words, the precious stones and state treasures have not been sold since 1996, and as a result, quite a large number of jewelry has accumulated in the government reserve fund, and they are losing their relevance and value, over time.
“Besides, storing these goods is too costly,” Aramyan added. “For that reason, there is a need to organize public auctions to sell the loose reserves of the reserve fund [of the Armenian government].”
As a result of the implementation of this plan, the state treasury of Armenia will get high-liquidity bullions, which do not lose their value.