Surena Papikyan Received More Bonuses than Salary in 2020

The Minister of Territorial Administration and Infrastructures, Suren Papikyan, received bonuses exceeding his salary during 2020. This information is revealed from Papikyan's declaration submitted to the Corruption Prevention Commission.

According to the law of the Republic of Armenia on the remuneration of public officials, the coefficient for calculating ministers' salaries is set at 12.00, meaning that their monthly salary amounts to 793,680 AMD. Thus, Suren Papikyan's annual salary totals 9,524,160 AMD.

In 2020, Papikyan declared a total of 20,792,956 AMD as compensation for his work, indicating that he received 11,268,796 AMD in bonuses.

At the beginning of the year, Papikyan reported having 12,996,208 AMD in his bank account, which decreased by the end of the year to 8,368,988 AMD. He also declared 4,901 USD and 4,432 EUR at the year's end.

As for cash holdings, Papikyan declared 5,000,000 AMD, 8,000 USD, and 1,000 EUR at the end of the year. Beyond his salary, he received an additional income of 1,938,796 AMD from the Ministry of Finance.

Papikyan took out two loans: one from Ardshinbank in the amount of 18,167,377 AMD, and another from VTB Armenia Bank for 874,895 AMD.

It is worth noting that Papikyan is also the chairman of the Executive Body of the Civil Contract party.