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Regional

Armenian Deputy Minister of Finance: The stadium will not pay off all debts of Armavia

  • by Alexandr Avanesov

  • Thursday, August 28, 21:21

 Placing the Mika Stadium on auction will not pay off all the debts of Armavia air carrier, Pavel Safaryan, Deputy Finance Minister of Armenia, told journalists on Thursday. 

When asked why only 9 bln out of 24 bln of debt is being paid off now, Safaryan replied that the rest of the amount will be collected in accordance with the law. "I cannot say exactly if the owners of Armavia have got other property that could be placed on auction. This issue is under jurisdiction of other structures. But part of the debt will be paid off", Safaryan said. 

To note, the Mika Stadium in Yerevan has been placed on auction by the Judicial Acts Compulsory Enforcement Service (JACES) of the Armenian Ministry of Justice. The stadium is put up for sale for 9 billion drams. The closing date of the auction is September 4. It was previously reported that the state is not going to forgive the debts of Mikhail Bagdasarov, who owned several enterprises, including Armavia and Mika Stadium. As it was reported earlier, Armavia owes 24.2 billion AMD (about 58 million US dollars) to the Armenian state budget, including 6.9 bln AMD in taxes and 17.3 bln in fines. 

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