Why Funds Were Transferred from the Armenia Fund to the State Budget: The Minister Explains

The decision to transfer part of the funds from the "Armenia" All-Armenian Fund to the state budget was made based on the council of trustees' decision. This was announced today by the Minister of Finance Atom Janjughazyan during a discussion of the 2021 budget draft at the National Assembly.

According to him, these funds amounted to 101 billion drams. "These funds were transferred to the state budget from the fund's accounts due to the state of emergency and the resulting new expenses," the minister noted.

He emphasized that since its establishment, the fund's goal has been to create an All-Armenian network. According to Janjughazyan, this task has been successfully implemented, evidenced by the execution of more than 3,000 projects.

"In this context, the All-Armenian Fund is a unique structure, one of whose goals is to support the sustainable development of Armenia, Artsakh, and the Diaspora. However, military operations and the state of emergency have led to additional expenses for addressing social and medical issues, as well as for the maintenance of infrastructure," the minister pointed out.

In turn, the government, through the Ministry of Finance, has committed to use these resources exclusively for their intended purpose. The minister also indicated that there is a clause in the donation agreement stating that the Ministry of Finance provides a report on the implementation of the document's provisions. "That report has been submitted. The funds have been used based on the government's decision and will be included in the report on the execution of the country’s primary economic document," the minister concluded.