Pashinyan: capital expenditure efficiency is the key to curbing the crisis

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YEREVAN, April 30. /ARKA/. Armenian Prime Minister Nikol Pashinyan chaired a consultation today, convened to discuss progress in infrastructure and house-building-related capital programs, the government press office said.

It said the Prime Minister stressed that capital programs are of special importance this year, and therefore they need to comply with the government’s target.

“Why do I say that this year is different from the previous ones? Our past experience has shown that capital expenditures used to be under-fulfilled in Armenia. We boasted an unprecedented level of economic activity in 2019 despite the fact that capital expenditures fell far short of the target. Capital expenditure efficiency is the key to curbing the current crisis. We consider that this year each under-fulfilled capital expenditure means missing jobs, families deprived of legitimate income, businessmen who should have made a profit. This in turn can aggravate the difficult social situation. In this respect, capital expenditures really need special focus and care,” the Premier said, reminding that the bulk of capital expenditure is carried out by the Ministry of Territorial Administration and Infrastructure.

Minister of Territorial Administration and Infrastructure Suren Papikyan reported that the Ministry has been provided 22,380 million drams from the 2020 State budget for capital expenditure purposes, of which 21 billion shall be used in road construction. 250km-long road sections inclusive of 65 km lifeline roads will be rehabilitated nationwide. 90 km roads will undergo capital repairs as part of loan-funded projects. Preparations are underway and the planned work will start this May 5. The Minister also referred to other types of capital expenditures.

Deputy Urban Development Committee Chairman Armen Ghularyan reported progress in the disaster zone house-building program currently being implemented in Spitak, Vanadzor and Gyumri. Prime Minister Pashinyan told those responsible to implement all these programs properly and in a timely manner. ($1 – 479.52 drams).

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