YEREVAN, July 24, /ARKA/. The Armenian government is expected to allocate 205 million drams to continue a program designed to stimulate the economic activity of individuals with bad loans in June and July of 2025. The decision was made at a government meeting on Thursday.
The program provides support to individual borrowers whose loans have been classified as bad for three or more years, provided that the debt on the principal amount does not exceed one million drams or the equivalent in foreign currency.
Beneficiaries receive financial support equivalent to 100% of the income tax calculated from their salary and other income (including that received under civil contracts). These funds are used to pay off bad loan debt.
Support is provided for a period of no more than 24 months, starting from the first day of the month following the recognition of the person as a beneficiary, but no longer than until the full repayment of the bad loan, termination of support on the grounds established by the decision, or termination of the obligation on the grounds provided by law.-0-
