Gagik Minasyan: 2011 to be year of Armenia’s sustainable developmentDecember 28, 2010 - 18:06 AMT PanARMENIAN.Net - Chairman of the RA National Assembly standing committee on finance, credit and budgetary affairs Gagik Minasyan said that 2011 will be a year of Armenia’s sustainable development based on economy’s diversification. “1.2% growth was envisaged under the 2010 state budget, while 4.6% growth is foreseen under the 2011 state budget. Industrial investments will be prevailing, increasing by 4.6%,” Minasyan told a press conference in Yerevan on December 28. He noted that the Armenian government will focus on industry, where new capacities have been already introduced. Besides, legislative privileges are effective in the field of import. Minasyan attached importance to stimulating small and medium enterprises, specifically, to postponement of VAT payment in case of modern equipment import, as well as to the legislative initiative limiting large businesses penetration into the field of small business through dividing companies and using privileges of SME. Minasyan noted that the economic growth in 2011 will be secured due to development of traditional fields, such as mining industry, construction, as well as processing industry. As for the development of agriculture, he said that it needs huge investments and unification of efforts. 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 | Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem." U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says. Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |