Economic policy

Two-day session of Economic Policy Council inspires optimism that we are on the right track – PM Pashinyan • MassisPost

YEREVAN – Chaired by Armenian Prime Minister Nikol Pashinyan, the two-day session of the Economic Policy Council under the leadership of the Prime Minister was summed up on August 7 at the Dilijan Training and Research Center of the Central Bank of Armenia, the government press office reported.

He said that on issues related to the sustainable development of agriculture and the food system, improving the competitiveness of agriculture through land reforms was discussed. Deputy Economy Minister Arman Khojoyan made the reports.

The deputy minister referred to the government’s vision for the sustainable development of the food system, which aims to develop agricultural products with high added value. strategic objectives, priorities, challenges and ongoing programs were presented. He noted that in 2021, the gross agricultural output stood at AMD 933 million, registering an increase.

The effectiveness of the state agricultural equipment leasing program was highlighted, under which equipment is renewed at the rate of 2% per year. today there are more than 26,000 units of agricultural machinery in Armenia, and the increase in productivity in some directions, for example, in the field of export of canned fruits and vegetables, is conditional on the smooth running of This program. The effectiveness of programs for the establishment of intensive orchards and insurance against agricultural risks were also mentioned.

A discussion took place on the government’s agricultural reforms and the toolkit for promoting productivity. Issues related to tax rates applied to food products were discussed, observations and recommendations were presented.

Then, the concept of improving the competitiveness of agriculture through agrarian reforms was presented. It was noted that it aims to overcome the problems of land fragmentation, low availability of irrigation water and financial resources, poorly developed infrastructure and the complexity of the property transfer process. To this end, government support programs are already in place: creation of agricultural cooperatives, subsidization of interest rates on agricultural loans, etc. platform and other tools.

The Prime Minister noted that the main reason for the non-use of land is the absence of a land market and that the agrarian reform should mainly aim at its formation. An exchange of ideas took place around the concept presented. Possible measures for developing irrigation infrastructure, increasing agricultural productivity, increasing the level of land usability and options for solving existing problems were discussed.

After the discussion of the issues on the agenda, the session of the Economic Policy Council under the leadership of the Prime Minister of the Republic of Armenia ended. Summarizing the discussions, Nikol Pashinyan noted,