Nikol Pashinyan proposed a new mechanism for the provision of housing  for military personnel

ArmInfo. The monetary compensation for renting housing to contract servicemen in 2019 will  increase by 915 million drams. On November 22, the Government of  Armenia approved the procedure, as well as the size of the monetary  compensation for the rent paid to the contract servicemen, if it is  impossible to provide a service apartment.

As Deputy Minister of Defense Gabriel Balayan stated when presenting  the bill, these legal relations were previously regulated by a  government decree of November 2000, which lost its force in August of  this year.  The new regulatory act increases the amount of monetary  compensation.

Thus, a family consisting of 4 people for renting housing in Yerevan  will receive 65 thousand drams per month. If there are 4 or more  people in a family, then the family - the beneficiary of the program  - will receive 85 thousand people. In other cities of Armenia, a  family consisting of 4 people will receive 38 thousand drams, and for  a family consisting of 4 or more people, the state will allocate 50  thousand drams monthly. In other settlements in the first case 20  thousand drams will be allocated, in the second - 25 thousand drams.

As a result, as the deputy minister said, the budget of monetary  compensation will increase by about 915 million drams - from the  current 2 billion 307 million 42 thousand drams to 3 billion 222  million 852 thousand drams.

However, the. Armenian Prime Minister Nikol Pashinyan urged to think  about sending part of these funds to pay off mortgage loans. He  proposed to develop a mechanism for the servicemen to pay  compensation not for renting housing, but to help in buying an  apartment and in paying off mortgage interest. "Plus, if there is an  opportunity to use such a tool as the return of income tax, it turns  out that we will provide these families with our own housing," he  said.

According to Pashinyan, if you count the annual budget allocations  for these purposes in the context of 10 years, you will receive an  amount of about 30 billion drams. If we add 19 billion drams to this  sum, then, as the acting president indicated. heads of government, in  the end we get an amount of about $ 100 million, and this is a real  opportunity to provide housing for many military. Nikol Pashinyan  instructed the heads of the Central Bank of Armenia and the Ministry  of Economic Development and Investments to make appropriate  calculations and find ways to solve the issue.

According to the data of the Financial Rating of Banks of Armenia as  of July 1, 2018, prepared by ArmInfo IC, the volume of mortgage  lending amounted to224.2 billion drams or $ 464.8 million. The annual  growth rate of this indicator accelerated from 13.3% to 14.8%. In the  total loan portfolio of the banking system, the share of mortgage  loans exceeds 7.3%. In addition to banks, mortgage companies "First  Mortgage Company", "Fides", as well as refinancing "National Mortgage  Company" and "Affordable Housing for Young People" specialized in  mortgages, providing a total of 168.7 billion drams or $ 349.9  million from July 1, 2018 annual growth of 10.4%. All 17 banks are  working in the mortgage market of Armenia.  ARARATBANK, along with  classic mortgage lending, issues energy efficient mortgage loans for  the purchase / repair of housing, incl. in the residential area  "Eraz".