Vache Gabrielyan: No economic growth is forecasted in Armenia in 2009July 9, 2009 - 15:28 AMT PanARMENIAN.Net - CBA experts forecast no economic growth in Armenia in 2009, Deputy CBA Governor Vache Gabrielyan told at the discussion entitled "Impact of the Global Financial Crisis on Armenia: Empirical Evidence". According to him, this does not mean separate segments will not see the economic growth. As for world economy growth, Deputy CBA Governor believes it will be registered in 2010-2011. Commenting on the statement of King Banaian, AIPRG fellow, chairperson at St. Cloud State University, USA, on Armenian's dependence on transfers from Russia, Vache Gabrielyan explained that there are a number of concomitant reasons, knowledge of language and free visa regime included. "There's a history of long-term relationship between Armenia and Russia, most of Armenia's migrants reside in Russia, so the reduction of transfer flow couldn't but have a negative effect Armenia's economy," he said. He agreed that Armenia has to diversify its economy to reduce its dependence on foreign transfers in future. On June 7-8, Yerevan hosted '' Impact of the Global Financial Crisis on Armenia: Short- and Long-run Perspectives'' international scientific conference, organized by Armenian International Policy Research Group (AIPRG). 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. |