Armenia overcame crisis with minimal lossesThe government believes that the 2010 indices will exceed expectations. With a single vote against, the Armenian National Assembly approved June 10 the report on 2009 national budget execution. “The year 2009 was a serious challenge for our economic and financial system,” Armenian Prime Minister Tigran Sargsyan said in his remarks during the discussion of the 2009 national budget execution. June 12, 2010 PanARMENIAN.Net - “Despite a 14.2% economic slump, our anti-crisis measures produced results and helped alleviate social hardships and secure job opportunities. True, Armenia’s state debt increased, reaching 36% of the GDP. The funds were spent to cover budget expenses, implementation of social reforms and improvement of business environment. The crisis helped reveal the drawbacks of Armenia’s economy, specifically, the low level of diversification. Other important tasks for the government are to secure competitiveness, to accomplish tax and customs reforms and to create free trade zone at Zvartnots International Airport,” he said. “Reforms are essential to modernize our economic system. Establishment of the institute of statutory audit for major companies will make our economy more transparent and will facilitate the activity of the State Revenue Committee. Moreover, introduction of ‘one-desk’ principle for enterprise registration will considerably improve the business environment,” the Prime Minister said. He also pointed out to the projects to be implemented in the real sector, these including construction of a new unit of the nuclear power plant, North-South highway, Meghri hydropower plant, establishment of an oncological center and reconstruction of Tatev monastery. PM Sargsyan concluded saying, “The above-mentioned projects will help resolve problems detected in 2009. A 7.2% economic growth was already fixed in January-April 2010. The government believes that the 2010 indices will exceed expectations.” Victoria Araratyan / PanARMENIAN News Most popular in the section Armenia’s “useless” manpower Small and medium sized businesses weigh in on consequences of war Hybrid banknotes New markets opening for home-grown products More articles in this section 4 rules for business success An ultimate guide Reduction of personnel and tax collection growth State Revenue Committee changes its policy Countries and goods that boosted Armenian export in 2016 Record figures | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |