On his Facebook livestream, Armenian Prime Minister Nikol Pashinyan provided details on the purpose of allocating 271 million drams for the organization of New Year events.

According to him, the first goal is for as many Armenian citizens as possible to celebrate the New Year in Armenia.

"You know that many citizens of the Republic of Armenia, according to the long established tradition, celebrate the New Year outside the Republic of Armenia, which is a very serious problem because the money is flowing out of our country," he said. "We have set the task for as many citizens as possible to celebrate the New Year in Armenia."

Another respective task is to boost tourist flow to Armenia, the PM says.

"Now, thank God, there is quite a lot of tourist interest in Armenia," he said. "And with this investment we want to boost the flow of tourists so that Armenia does not have seasonality for tourists."

He also stresses that the content of the New Year and its social impact should be corrected.

According to him, New Year events will be held in downtown Yerevan from December 21 to January 5.

Nikol Pashinyan also said that a new Armenian song should become popular.

"Yesterday I learned that there is a new song on New Year's that will be presented at Republic Square," he said. "We have to continue the process long enough for a song to be born in Armenia, which in its popularity will win with global songs and compete with 'Jingle Bells,' or 'Happy Birthday.’"