YEREVAN, December 29. /ARKA/. The Central Bank of Armenia said it will auction 5 billion drams worth mid-term government (bullet) bonds of AMGN60294166 and AMGN36294142 issues each 2.5 billion drams on January 10 and 17, 2012.
The average yield on a bond is set at 11%. The maturity period is 5 and 3 years respectively. Coupon payments will be made once every six months. M.M. -0-
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ARMENIAN GOVERNMENT APPROVES FIRST-EVER PACKAGE OF SOCIOECONOMIC BENEFITS FOR 120, 00 CIVIL SERVANTS
YEREVAN, December 29. /ARKA/. The Armenian government has approved Thursday the first-ever package of socioeconomic benefits for 120,000 civil servants and members of their families.
Finance minister Vache Gabrielian said the amount of the package for a servant is 132,000 drams. The list of beneficiaries does not include high-ranking officials and technical staff. He said civil servants may use the money to pay for their medical insurance, education of their children and recreation in Nagorno-Karabakh as well as subsidize mortgage loans borrowed from commercial banks. The government’s budget for 2012 sets aside 18 billion drams ($47.6 million) for that purpose.
The minister said medical insurance will be mandatory and amount to 52,000 drams. It is supposed to be enforced from February 1.
Some 48% of next year’s budget is earmarked for social security, health, education, science and culture sectors; some 17 billion drams will be spent on payment of raised pensions and social benefits, the minister said. -0-
