The government has announced an increase in financial support for athletes who have achieved specific results in competitions. Starting from July 1st, provincial athletes will see their sports allowance increase from 300,000 drams to 1 million drams. This move aims to provide further motivation for their participation in the Olympic Games, as they will no longer receive additional financial support from the “Paris 2024” Olympic Games fund. The summer Olympic Games in Paris are scheduled to take place from July 26 to August 11, 2024.

Under the proposed plan, athletes participating in and winning national sports competitions will continue to receive the allowance until the conclusion of those competitions, unless they receive other forms of compensation. The preparations for the Summer Olympic Games are also supported through a state budget allocation of 297,062,500 AMD.

Currently, the Sports Department of the Republican Sports and Health Organization provides assistance to Olympic Games, world and European champions, athletes participating in the Olympic Games and placing fourth to eighth, as well as national team coaches and doctors involved in the program. A budget of 23,450,000 AMD per month has been approved for the National Olympic Committee and the Ministry of Education, Science, Culture, and Sport. This totals 187,600,000 AMD for eight months.

At present, the 11 provincial athletes receiving the sports allowance will receive a total of 5 million AMD, including taxes and deductions. From July 1st, this number will increase, with the 13 provincial athletes receiving an additional 8,750,000 AMD per month for the next three months, resulting in a total amount of 26,250,000 AMD.

If no new allowance is awarded, additional funds will not be provided. However, sports competitions will continue, and the remaining amount will be evaluated until mid-July.

Source: News.am