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Safaryan says funds from sale of Armenian eurobond should be used to boost industry

11.10.2013 15:14

Safaryan says funds from sale of Armenian eurobond should be used to boost industry

YEREVAN, October 11. / ARKA /. Vazgen Safaryan, the head of the Union of Domestic Manufacturers, says the funds raised from the sale of the first ever Armenian Eurobonds should be used to boost the industrial sector.

Speaking at a news conference he said the funds should be channeled in the first place into construction of the second unit of the Yerevan Thermal Power Plant that will enable to substantially cut the price of electricity supplied to consumers.

Besides, according to Safarian, part of the funds should be used to expand the Zangezur copper- molybdenum plant. He argued that this will secure additional revenues to the state budget, which will allow the government to increase support to SMEs.

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