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At a meeting on Thursday, the Armenian government made a decision to extend the terms of granting loans for the purchase of grapes, as well as the grace period.

Armenian Minister of Economy Vahan Kerobyan, presenting the draft decision at a government meeting on Tuesday, noted that this decision concerns the conditions for granting subsidized loans by the executive body for procurement. According to him, the most significant change is the extension of the terms of loans provided for the purchase of grapes from 1 to 3 years, and the grace period from 3 months to 1 year.

“These changes will enable our buyers of grapes, on the one hand, to buy more, on the other hand, to be able to pay farmers for grapes faster, and also, by maximizing harvesting volumes, to be able to export more in the future,” he explained.

Kerobyan stressed that today the indicators of agricultural products produced have exceeded the indicators of 2019, reaching about 145 thousand tons, and in general the agricultural year is going well.