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From December 28, 2019 to January 6, 2020 Armenia saw an additional money turnover of 9 billion 307 million drams from the same period of the previous year, Prime Minister Nikol Pashinyan said in a video livestreamed on Facebook.

He reminded that the government had allocated 271 million drams to the Yerevan Municipality for New Year celebrations in an effort to have more tourists and Diaspora Armenians spend the holidays in the country.

“We can assume that the extra 271 million drams we have spent has helped us secure 9 billion drams more money turnover. Out of those 9 billion drams, about 4 billion was recorded in Armenian regions,” the PM said.

According to Pashinyan, some of this sum has been directed to the owners of small stores and taxi drivers, who helped those running small businesses generate additional revenues

The Armenian leader highlighted according to estimates the additional money turnover of 9 billion drams will generate at least 325 million drams in taxes.

“In other words, the 271 million drams we spent in December will fully return to the state budget and even more. Many businessmen and private entrepreneurs have benefited from this turnover,” he stated. “By recording this data I think next year we will spend more funds on the New Year celebrations to generate more taxes and to open up more opportunities for Armenian citizens to work and earn their own living.”