Armenia explores Russian loan system

The government of Armenia has provided $13.5 million from a Russian loan for financing the first stage of a program of the stabilization of the economy, Panorama.am reports, citing the government press-service.

Premier Sarkisyan said that Armenia had developed clear conditions for a program aimed at stimulating export and tourism development.

He said that the program was a success, and the economy grew by 8.8%. Which, he said, was the reasoning for the $13.5 million loan.