Armenia: Export-related aspects of Economic Stabilization Programme
Description
An economic stabilization lending program (under the Anti-crisis programme of the Government of Armenia) has been established under a USD 500 MN interstate loan available from the RF government, aimed at boosting the GDP through partial coverage of the needs of economic entities in borrowed funds. The program has an overall budget of AMD90 MN (USD250 MN) and 3 different components:
The first component addresses the banks and lending organizations. It will have a budget of AMD60.5 BN, of which 12 billion drams will go into the mortgage market, 30 billion drams will be used for boosting exports, procuring and processing agricultural produce, implementing air transportation improvements, fostering infrastructure-based tourism, providing loans to consumers, motor-car and housing buyers and, finally, 18.5 billion drams will be available to small and medium-size enterprise.
The second component consists in SME funding. The duly licensed lending entity, founded by the National Small and Medium-Size Enterprise Support Center, will act as the beneficiary of this component. It is supposed to provide for higher efficiency in lending processes. The component will have a budget of AMD6.4 BN.
The third component will provide lending to system-building enterprises. It will be administered by the RA Ministry of Finance under the terms and conditions laid down in relevant government decisions. The component will have a budget of AMD 23.1 billion drams.
Note: 1 Euro = 466.4 AMD
The promotion of exports, described in the first component, may harm the commercial interests of rival firms abroad.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: Yes
Date of inception: 1 Jan 2009
GTA Evaluation: Red
Source:
RA GOVERNMENT’S ANTI-CRISIS ACTION, PROGRESS AND STATUS -http://www.gov.am/u_files/file/home_files/antikrizis-rus.pdf
http://www.gov.am/u_files/file/home_files/hakachgnajamayin/AntiCrizProg-...
Government Response:
- 650 reads
