Government to release 108.25 million drams to viticulture and winemaking development fund

The Armenian government on Thursday decided to release 108.25 million drams to Viticulture and Winemaking Development Fund.

YEREVAN, December 22. /ARKA/. The Armenian government on Thursday decided to release 108.25 million drams to Viticulture and Winemaking Development Fund. According to Agriculture Minister Ignatiy Arakelyan, the money will be allocated from the reserve fund of the government to ensure the stable operation of the structure.

The Viticulture and Winemaking Development Fund was established by the government in June of the current year for the development and promotion of Armenian wines. The Fund is engaged in the creation of Armenian wine brand, development and diversification of markets, organization of participation of Armenian wineries in various exhibitions.

According to the National Statistical Service, production of wine in January-October 2016 increased by 12.4% compared to the same period of 2015 to more than 5 million liters. ($ 1 - 481.77 drams). -0-