Armenian government takes anti-crisis measuresFebruary 12, 2009 - 20:26 AMT PanARMENIAN.Net - The Armenian government passed Thursday a number of decrees aimed at the extension of local production and increase of import to lessen the impact of financial crisis on the country's economy. Among anti-crisis mechanisms, the government discussed the mechanism of subsidizing farmers to be worked out jointly with the Ministry of Agriculture. Minister of Economy Nerses Yeritsyan mentioned about joint governmental program where $3.4 million budget guarantee was provided to Tamara Fruit Company. He also noted that alterations will be made in the Armenian legislation to enable changes in companies' tax systems and secure increased job opportunities and social improvements. The companies wishing to make major investments of over AMD 300 million in 2009 -2010, will receive postponement of VAT repayment period for imported equipment and technologies. "This period is sufficient for realization and recoupment of investments to enable companies to make investments without major initial expenditures," Nerses Yeritsyan said. For his part, Armenian Prime Minister Tigran Sargsyan commented on property of national culture (carpet manufacturing) and suggested its exemption from VAT and profits tax. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |