European vegetables not favored, local vegetables will be cheaper soon

The prices for the vegetables and fruits are expected to go down in June. At that, the harvest will not only satisfy the needs of the Armenian market but will be imported as well.

June 4, 2011
Following Russia, Armenia has banned import of vegetables, specifically cucumbers and pepper in an attempt to prevent penetration of the E. coli bacteria that killed over a dozen of people in Europe. At that, Agriculture Minister Sergo Yeritsyan assured that the deadly bacteria doesn’t threaten Armenia, as vegetables and fruits from Europe has not been imported.

IAEA: Armenian nuke plant poses no danger

“There is no industrial activity that does not pose any risk, but I think the results of our inspection show that this risk at Metsamor is acceptable,” Gabor Vamos said.

June 4, 2011
IAEA: Armenian nuke plant poses no danger
The IAEA's 11-member Operational Safety Review Team (OSART) for Armenia, which inspected the Armenian nuclear power plant (NPP) safety from May 16 to June 2, concluded that the plant does not pose any danger. “There is no industrial activity that does not pose any risk, but I think the results of our inspection show that this risk at Metsamor is acceptable,” Gabor Vamos, head of the OSART, said upon completion of the monitoring.

Armenian leader decides to tackle shadow economy

The tax revenues totaled AMD 240.4bln in January-April 2011 in Armenia, including social payments at the amount of AMD 40.2bln.

May 28, 2011
The Armenian President recalled recently that the share of shadow economy is great in the country, since many entrepreneurs, specifically, large businesses, avoid payment of taxes and, what affects the state budget.

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.