Armenia’s 2012 state budget – ‘social’ or ‘pre-electoral’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. Armenian banks to conservative in 2012Samvel 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. No Armageddon for Armenian economy in 2012Vice 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. Diaspora jewelers dream of free economic zone in ArmeniaAccording 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. Armenia tackles industry problemsAccording to Economy Minister Tigran Davtyan, his ministry has developed a ‘strategic expert-oriented policy’. August 27, 2011 Deriving lessons from the crisis, when the engine of Armenia’s economic growth – the construction industry – suffered worst losses, the Armenian government remembered that Armenia “was and will be an industrial country.”  When will Armenia’s business sector show progress?“A smaller country may easier adapt to new conditions,” Deputy Director of Association of Russian Banks analytical department said. July 23, 2011 Improvement in business climate may become possible through raising the level of property rights protection in the country to stimulate capital inflow and simultaneously reduce its outflow, according to Sergey Grigoryan, Deputy Director of Association of Russian Banks analytical department. Armenia expects inflation decreaseThe government’s relative calmness can be explained by the fact that most of the economic programs that were subsidized are being successfully implemented.  July 2, 2011Armenian Prime Minister was waiting for a guest meeting of the government in Vayots Dzor province to tell that the country is entering a deflation period. Armenia’s economy insufficiently diversified, PM admitsA joint OECD and FAO report forecast that food prices will be high and volatile for the next decade, driven by rising incomes in emerging nations and demand for biofuel. June 18, 2011 The first difficulty that Armenia encountered in the post crisis period is the insufficiently diversified economy, according to Prime Minister Tigran Sargsyan. “Reacting on crisis, Armenia focused on three directions: diversification, improvement of infrastructure and business environment,” the PM said in an interview with CNN. “Further we hope to boost business environment and overcome consequences of crisis by means of consecutive efforts directed at implementation of reforms,” he said. Shadow economy remains among Armenia’s pressing problemsArmenia needs to diversify export-oriented production, executive director of the Union of Armenian Manufacturers and Businessmen says. June 11, 2011 Currently import to Armenia exceeds export by 20-25%, and this trend has been maintained for the past 5-6 years. At that, 80% of exported products from Armenia are represented by 15 goods, including output of the mining industry, brandy, gold, etc. As for import, 25 goods make around 50% of imported products to the country. Number of natural gas vehicles in Russia increasing, Armenia ready to share experienceIn 2008-2009, 18 cars exploded at gas-filling station in Armenia, two of which with deadly outcome. June 6, 2011  Gazprom plans to amend the legislation in favor of natural gas vehicles. According to the company forecasts, by 2020 there will be about 30% natural gas vehicles in Russia. Besides, autonews.ru says that Gazprom considers it necessary to approve a governmental program on replacing petrol with natural gas. It is to include new legislation on energy safety and federal target programs on using natural gas vehicles in construction, agricultural and municipal transport industry. |  Most popular Other articlesArts & Showbiz: The Armenian girl and her Resignation Syndrome IT & Technology: Revolut launches in Armenia  Interviews News from the section Up to 1% cashback when shopping on Wildberries with IDBank cards  IDBank is launching an exclusive campaign on Wildberries for online shopping enthusiasts.International transfers from card to card with IDBank VISA cards If you are an IDBank Visa card holder, you can already transfer money to international VISA cards through the VISA Direct service.Idplus bonuses now in Idram&IDBank app Idplus bonuses are already closer to customers who can now their bonuses directly in the Idram&IDBank app. |
