Financial crisis has already affected 90% of Armenian companiesMay 6, 2009 - 21:41 AMT PanARMENIAN.Net - A poll, involving 60 small and major companies in Yerevan and RA regions, showed that the crisis has affected 90% of them, Economy and Values Research Center stated.According to Economy and Values Research Center Chairman Manuk Hergnyan, 70% of organizations' main issues are caused by reduced sales volumes, untimely payments and even non-fulfillment of payments. "35-40% of companies had difficulties in attracting financial means, " he said, adding that majority of companies plan to cut administration expenditures and delay planned investments. 40% of organizations polled plan job cuts, and 20% - salary reductions, especially in industrial spheres. On the other hand, the crisis has had a positive influence on a number of Armenian companies, as far as competitors' weakened positions, raw material and equipment price reductions are concerned. "Around 80% of entrepreneurs polled believe that the crisis will exacerbate in 2009," Hergnyan reported. 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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. 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. |