Prime Minister Nikol Pashinyan held a consultative meeting to discuss the draft law On Non-Cash Transactions.

Opening the meeting, the Prime Minister noted: “We have repeatedly stated that we would be consistent in reducing the scope of cash transactions, since this issue is important for us not only in economic terms as a tool for curbing corruption, but also as a matter of civilization. And I want to emphasize once again that the issues that have a component of civilization will always be the focus of our attention. In this regard, shrinking the scope of non-cash transactions and the digitization of electronic transactions and functions as a whole is a priority that should lead to serious changes in terms of civilization, which is important not just as a statement, but as a process that will lead to serious changes in the quality of life of our citizens.

We have recently discussed such issues. In this regard, the problem of slaughterhouses and cash flow reduction is important. A few days ago we discussed changes in the real estate taxation system, which appears to be crucial from the perspective of living standards and citizens’ participation in decision-making and in the management of national wealth. Therefore, the focus on civilization is of strategic importance. It calls for serious effort, but the government has the political will and the necessary skills to make this effort and succeed.”

A number of proposals and recommendations were voiced during the exchange of views that followed. The speakers noted that non-cash transactions have multiplied over the past two years, including through foreign bank cards. This is also due to positive developments in the tourism sector.

The meeting next discussed measures aimed at stimulating non-cash transactions, providing appropriate infrastructures, and the proposed steps in this direction. The bill was said to have been developed with due consideration of international experience.

The Premier highlighted the need for promoting non-cash operations both in terms of civilization and as a means to fight the black economy. The Head of Government told the heads of relevant government departments to finalize the bill taking into account the proposals and recommendations voiced at today’s meeting.