No Cash Transactions for Pensions Starting January 1, Says Pashinyan

In Armenia, all auctions, sales, and even pensions for the elderly must be conducted exclusively electronically. This announcement was made by Prime Minister Nikol Pashinyan during today's government session. He gave the representatives of the executive body two weeks to resolve the issue definitively and transition to an exclusively electronic system by January 1, completely eliminating cash circulation.

“Even if there is a power outage, it’s fine, let the property be sold a week later. The global internet is disconnected, it’s okay, let that property not be sold. Only and exclusively through electronic means. It doesn’t matter if the property isn’t sold, if we have managed until now, we can endure some more; let the property not be sold, let a crisis be created, I take responsibility for that, a solution will be found. But it must be electronic sales,” he declared.

Addressing the issue of pensions, the Prime Minister mentioned that it remains unclear to him why cash payments are made for those over 75 years old. “Starting January 1, no cash transactions for pensions will take place in the republic. Everyone, without exception, will receive their pensions electronically,” he announced. He gave the relevant authorities two weeks to resolve the issue of transferring pensions exclusively through cards.