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GOVERNMENT IS IN PANIC
Those beneficiaries of benefits for civil servants who want to spend
the benefit on travel will have to borrow money. Civil servants and
employees and teachers complained to Lragir.am that they were informed
that in order to use their benefit on travel, they will have to borrow
the money from banks.
Note that the benefit of civil servants is an annual lump-sum payment
of 132,000 AMD. Half of the sum is for mandatory medical insurance.
The rest can be spent for three purposes. The money is not disbursed
to the beneficiary. The three purposes are a mortgage loan installment,
tuition fee and a trip to Armenia or Artsakh.
The minister of finance Vache Gabrielyan said at the beginning of this
year that the policy has been improved, and the amount of beneficiaries
has increased by 30,000. The beneficiaries receive 11,000 AMD to their
bank accounts every month. If the beneficiary does not spend the money,
it is rolled over to the next year, as the government promised. Vache
Gabrielyan says this year 21.1 billion AMD will be directed to the
program instead of last year's 15 billion.
The beneficiaries who receive approximately 50 to 120 thousand AMD
per month are dissatisfied with the policy. They note that they are
forced to borrow money from banks for their holidays.
We learned from a government official that those people who want to
spend the money for their holidays will have to borrow money from the
bank because tour operators do not accept the government's condition
to disburse money in monthly installments.
Usually, people go on holiday in July-August when only part of the
benefit has been transferred to people's bank accounts. So people
will have to borrow money to go on holiday which will later be repaid
by the government but interest will have to be paid either by the
government or by the beneficiary.
Our source said that according to the agreement with the banks,
the interests should be the lowest - 12-14%. Negotiations with tour
operators are still going on. The government hopes they will agree
over monthly payments.
By the way, our sources say that this issue has sent the government
into a panic. The authors of the benefit are trying to return the
previous arrangement of lump-sum disbursement.
Roza Hovhannisyan 16:41 24/06/2013 Story from Lragir.am News:
http://www.lragir.am/index/eng/0/country/view/30264
Those beneficiaries of benefits for civil servants who want to spend
the benefit on travel will have to borrow money. Civil servants and
employees and teachers complained to Lragir.am that they were informed
that in order to use their benefit on travel, they will have to borrow
the money from banks.
Note that the benefit of civil servants is an annual lump-sum payment
of 132,000 AMD. Half of the sum is for mandatory medical insurance.
The rest can be spent for three purposes. The money is not disbursed
to the beneficiary. The three purposes are a mortgage loan installment,
tuition fee and a trip to Armenia or Artsakh.
The minister of finance Vache Gabrielyan said at the beginning of this
year that the policy has been improved, and the amount of beneficiaries
has increased by 30,000. The beneficiaries receive 11,000 AMD to their
bank accounts every month. If the beneficiary does not spend the money,
it is rolled over to the next year, as the government promised. Vache
Gabrielyan says this year 21.1 billion AMD will be directed to the
program instead of last year's 15 billion.
The beneficiaries who receive approximately 50 to 120 thousand AMD
per month are dissatisfied with the policy. They note that they are
forced to borrow money from banks for their holidays.
We learned from a government official that those people who want to
spend the money for their holidays will have to borrow money from the
bank because tour operators do not accept the government's condition
to disburse money in monthly installments.
Usually, people go on holiday in July-August when only part of the
benefit has been transferred to people's bank accounts. So people
will have to borrow money to go on holiday which will later be repaid
by the government but interest will have to be paid either by the
government or by the beneficiary.
Our source said that according to the agreement with the banks,
the interests should be the lowest - 12-14%. Negotiations with tour
operators are still going on. The government hopes they will agree
over monthly payments.
By the way, our sources say that this issue has sent the government
into a panic. The authors of the benefit are trying to return the
previous arrangement of lump-sum disbursement.
Roza Hovhannisyan 16:41 24/06/2013 Story from Lragir.am News:
http://www.lragir.am/index/eng/0/country/view/30264