ArmInfo. The RA government will allocate an additional 10 billion drams to pay cashback on non-cash purchases for pensioners. The decision was made at the Cabinet meeting on June 25.
The rationale for the draft decision notes that the budget initially allocated slightly over 20 billion drams for cashback payments for 2026, which was subsequently increased to 25 billion drams. However, from January to April of this year, 11.8 billion of the 25 billion drams were already spent. Specifically, in April alone, the number of pensioners using the program increased from the expected 435,000 to almost 490,000, as the government transitioned pension payments entirely to bank cards on April 1. Previously, pensioners with mobility issues received their pensions in cash. For this reason, the decision was made to increase the cashback budget by 10 billion drams.
As a reminder, under the program, pensioners receive a 20% cashback on non-cash purchases during the month, excluding utility bills. The cashback amount cannot exceed 10,000 drams. The cashback program was introduced in July 2022 to stimulate cashless trade and reduce informal transactions.
