Cabinet approves government support program for SMEs

At its meeting on Thursday, the cabinet approved the 2011 small and medium-sized enterprise (SME) support program aimed at developing Armenia's economy, opening new jobs, increasing the population's life standards and creating a middle class of the society.

Addressing the document, Prime Minister Tigran Sargsyan attached importance to combining this and other projects concerning the SME sector.

He said 2011 is going to mark exceptional developments in the country's economy. In that connection he added that the banks have decreased interest rates by 2-3% and increased the amount of the loans as they are more interested to attract creditors.