YEREVAN. – According to the draft budget of 2020, it is envisaged to allocate 33.3 billion drams for the needs of the Ministry of Finance of Armenia, against the 25.9 billion drams in 2019. This is stated in the draft state budget for 2020.
These funds will be directed towards agricultural programs, tourism development, especially infrastructure improvement. In addition, funds will be allocated to industry, and small and medium-sized business development programs.
At the same time, about 18 billion drams will be allocated to agriculture programs, and 6.3 billion drams to tourism development. It is planned to fund and implement 12 events in 5 projects with a total cost of 8.9 billion drams.
Out of the abovementioned 33.3 billion drams, 17.8 billion drams shall be co-funded by external sponsors, and the rest will be provided through tax revenues from the state budget.