YEREVAN, December 11. /ARKA/. During a meeting on Thursday, the Armenian government decided to extend the program aimed at boosting the economic activity of those with bad loans. It has been suggested to allocate 278.2 million drams (around $730,000) to fund the program in November and December 2025.
A total of 1,896 individuals were identified as beneficiaries of the program based on applications submitted in February 2025, with numbers increasing to 2,295 in March, 2,866 in April, 3,193 in May, 3,686 in June, 3,530 in July, 3,652 in August, and 3,842 in September.
The program offers assistance to individual borrowers whose loans have been classified as bad for three years or more, and whose principal debt does not exceed 1 million drams (or its foreign currency equivalent).
This initiative allows recipients to utilize 100% of their income tax calculated from their salary and similar payments (income received under a civil contract) to pay off bad loans.
Support is available for a maximum of 24 months, starting from the first day of the month following the individual’s recognition as a beneficiary, but it cannot extend beyond the full repayment of the bad loan, the termination of support based on a formal decision, or the conclusion of the obligation as specified by law.
Applications for participation in the program can be submitted until January 31, 2026.-0-
