Brief overview of main economic events of 2012 in Armenia
December 28, 2012
In 2012, Armenia faced several significant economic events which may have further positive influence on the development of this sphere and the country in general. PanARMENIAN.Net provides a brief overview of the developments of this year.
How the idea of establishing Free Economic Zone in Armenia emerged
October 25, 2012
Currently there are approximately 1200 free economic zones (FEZ) operating worldwide, the most successful ones being the Special economic zones in China, about ten in number. These are quite efficient since the Chinese market is huge, and the labour force is cheap there; this attracts big brands to these zones.
CBA issued a response to Reuters article, which claimed Iran expands presence in Armenian banking system.
August 25, 2012
Central Bank of Armenia (CBA) Financial Monitoring Center has actively cooperated with such international institutions as Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) and Egmont Group of Financial Intelligence Units.
Armenia has managed to reduce poverty, slash inflation, stabilize its currency, and privatize many business enterprises.
May 25, 2012
Financial markets are keenly focused on the continuing travails in Europe, but peripheral countries near to the Eurozone cannot wait for their lead. Armenia, for one, has suffered through a debilitating recession, but, through the efforts of its domestic institutions and businesses, it has carved out a respectable recovery track record, sporting GDP growth in excess of 4% a year after the fall in 2009.
International agencies hailed Armenian government’s efforts to coordinate monetary-credit and tax and budgetary policy.
May 20, 2012
International institutions, in particular, the International Monetary Fund (IMF) are optimistic about economic growth worldwide, given the efforts of European states to tackle the debt crisis and increased rates of economic growth in U.S. Commenting on report on “Perspectives of global economy development”, IMF Economic Counsellor and Director of Research Department Olivier Blanchard said that the international economy has faced ups and downs over the past six months and now sees comparative stability.
International organizations also state that agriculture has a key role in development of a country’s economy.
March 31, 2012
Even developed countries have to tackle food security problems today, therefore these issues have appeared in EU spotlight in the past three years. Same is the situation in CIS states. Though development of the Convention on Food Security was a step forward for Armenia, the level of food security still lags behind the international average. So the government needs to put a stronger focus on these issues.
The newly-adopted budget doesn’t look reassuring, nor does it prove Armenia’s past the crisis and instability, according to Stepan Safaryan.
December 10, 2011
On December 8, Armenian National Assembly adopted 2012 state budget with 66 votes in favor and 2 against. Heritage and ARF Dashnaktutyun parliamentary groups did not vote.
Samvel Chazmachyan is sure that the level of liquidity of the Armenian banking system will allow it firmly resist the recession.
November 12, 2011
Russian economic Nikolai Kondratiev, known for his analysis and theory of business cycles, predicted the global financial crisis back in 1920s. The current situation, according to Kondratiev, is the “winter of economy”, which can last for some 20 years.
Vice president of the European Bank for Reconstruction and Development calls “not to succumb to panic” but be cautious with fiscal policy.
November 5, 2011
Economists’ apprehensions of the second wave of global recession are growing. The crisis that befell Europe is threatening while no perfect solution is found to overcome it. 2012 promises to be a hard year for the global economy. Italy, Portugal and other European states may have Greece’s fate. Politicians are searching for a way out; developments are unpredictable; markets are too sensitive.
According to Gagik Gevorgyan, AJA plans large-scale training programs “to prepare designers to be the pride of our nation.”
September 24, 2011
Jewelers from the Armenian Diaspora gathered in Armenia in the framework of celebrations dedicated to the 20th anniversary of the republic’s independence. United by the Armenian Jewelers Association (AJA), many of them head the associations of jewelers in the countries they live.