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Armenia discusses report on 2010 budget

Prime Minister Tigran Sargsyan believes that 2010 was the year of sustainable recovery for Armenia.

May 14, 2011
Prime Minister Tigran Sargsyan believes that 2010 was the year of sustainable recovery for Armenia, with the government continuing the anti-crisis program which already started yielding results.

Armenian banks need 2 years to restore pre-crisis revenues

According to chairman of the Union of Banks of Armenia, the interests rates in Armenia are lowering and the tendency will be preserved in the future.

April 30, 2011
To better familiarize himself with the problems of the banking sector, Armenian President Serzh Sargsyan held a working meeting that brought together heads of 21 commercial banks operating in the Republic of Armenia.

Armenia, Russia deepening economic ties

Currently, there are 1400 enterprises with Russian capital operating in Armenia with US$3 billion investment portfolio, which tends to increase.

April 23, 2011
This week Yerevan hosted the first-ever interregional Armenian-Russian forum which brought together officials from Armenian provinces and Russian administrative centers.

Armenian banks seem to display interest in agriculture

Armenian Ministry of Agriculture is facing a challenge. Time will show whether it will succeed.

April 9, 2011
Armenian banks seem to display interest in agriculture
Agriculture seemed to be forgotten over the past years in Armenia and only in 2010, when unfavorable weather conditions resulted in a significant slump, the authorities came to senses and addressed the pressing problems.

Mitigated gas prices for poor Armenian families to alleviate inflation damage

60 thousand needy families will pay a lower price for the natural gas from April 1, 2011.

April 2, 2011
Challenged by high inflation rate, the Armenian government has launched various agricultural programs and resolved to bring down the gas prices for poor families. Thus, from April 1, 2011, 60 thousand of needy families will pay a lower price for the natural gas. The measure has become possible due to the changes effected in the energy system, specifically modernization of the Yerevan heat power plant. The consumers who use up to 300 cu m of gas will be given special coupons which will allow then to pay AMD 100 for a cu m. Those consuming more than 300 cu m will pay the standards price set at AMD 132.

Armenian government is tackling agricultural problems

Eighty thousand rural residents will be beneficiaries of a new program with total cost of $21,3 million.

March 26, 2011
In a hurry to make up for lost time and mend the agriculture gaps which suffered bad damages last year, the Armenian government announced the field to be a priority in 2011 and launched various projects to improve the situation.

European Union gives green light to Armenia

All EU panels are ready to provide Armenia with comprehensive consultations to promote implementation of reforms and improvement of the quality of life in the country.

March 19, 2011
All EU panels are ready to provide Armenia with comprehensive consultations to promote implementation of reforms and improvement of the quality of life in the country, Armenian Prime Minister Tigran Sargsyan stated, summing up the results of his 3-day visit to Brussels.

Armenia will discuss NNP safety with international experts amid nuclear concerns

Being located in a seismic zone, Armenia should learn a lesson from the situation Japan came to face after the earthquake.

March 19, 2011
Japan disaster reminds that provision of nuclear power plant safety in Armenia, as well as infrastructures, securing its uninterrupted work must be in the focus of attention, according to Armenian Prime Minister Tigran Sargsyan, who said a discussion involving international specialists will be held, to obtain expert advice on efforts to be taken to provide the nuclear power plant safety.

Armenian government to suggest legislative initiatives aimed at tackling inflation

The government will submit a Program of Sustainable Economic Development soon, which includes also poverty reduction.

March 5, 2011
Predictably, the inflation rate continues growing in Armenia and, according to forecasts, it will approach 10% in the first half of 2011. According to the updated statistical data, 1.9% inflation rate was recorded in Armenia's consumer market in February compared to January 2011. The inflation is basically conditioned by 1.5% and 3.4% growth in prices for foodstuff (including alcoholic beverages and cigarettes) and tariffs for services respectively. Prices for non-foods also grew by 0.6% during the reporting period.

Registration of business in Armenia to take 3 days from Match 7, 2011

According to the Grant Thornton International Business Report (IBR), Armenian businessmen have shown an increase in the level of their optimism for the year 2011, showing a significant positive swing equal to +48% against the last year’s +32%.

March 2, 2011
According to 2010 Investors Without Borders, it will take 18 days to register business in Armenia while neighboring Georgia offers 4 days to accomplish the procedure, attracting more investors. Besides, Georgia is described as a country completely open for investments.