BUSINESS & ECONOMY
Car loans and card credits decreased by 38,8% and 2,2% respectively. The overwhelming share in the consumer crediting structure consist of card (36,1%) and gold deposit loans (23,8%).
Armenia will soon propose China the unilateral GSP (generalized system of preferences) system for important Armenian products, Hovhannes Azizyan, deputy minister of economic development and investments of Armenia said during the May 27 EEU-Armenia Cooperation business forum.
“Armenia” airline will launch regular flights en route Barcelona from July 12. “Flights will be operated on Wednesdays. Flight duration – 5 hours. Have a nice flight and soft landing”,,Gevorg Khachatryan, deputy director of Armenia airline said on Facebook.
“These are important, because problems might occur for exporting products to EEU markets, and in this event insurance is very important in both nancial terms, and in case of force majeure situations,” he said.
And in case of Georgia WB has taken the number of visitors. To be clear how these figures differ, exact data should be brought. In 2016 total 2.9 million visits to Armenia have been recorded (source: volumes of RA border crossing per RA border checkpoint), from which 1.26 million comprised tourist visits. In 2016 Georgia recorded 6.3 million visits, from which tourist visits comprised 2.7 million.
The operation of new flight became possible thanks to the meeting between Ambassador of Kazakhstan to Armenia H.E Timur Urazayev and Minister of Transport, Communication and Information Technologies Vahan Martirosyan. At the meeting the sides announced opening Astana-Yerevan direct flights.
The price of a round-trip ticket will start at €226, taxes and duties included. Belavia is Belarus’ largest air carrier performing regular flights to 49 airports in 27 European and Asian countries.
In a meeting with journalists on May 24 Mher Abrahamyan said that those announcements are so far away from the reality that they have started to take such announcements with humor. According to him, those publications have nothing to do with the reality.
The President’s budget maintains military parity between Armenia and Azerbaijan, at $600,000 for International Military Education and Training (IMET), but does not recommend Foreign Military Financing (FMF) to either country.
Armenia’s economic activity index (EAI) in January-April 2017 compared with the same period of the previous year comprised 105.7%. Note, in January-March EAI rate was higher—6.6%.
“There are excellent opportunities for economic cooperation between the two states. I hope in the future we will witness growth in trade turnover and the two peoples will feel the great achievements in those spheres,” Mahmoud Hojjati said.
The World Assembly of OIE Delegates will examine, with a view to adopting, a number of new intergovernmental standards covering animal disease control methods, including those for controlling diseases transmissible to humans, the safety of international trade in animals and animal products, as well as animal welfare.
Armenia’s economic activity index for JanuaryApril 2017 surpassed the index of the same period of the previous year by 5.7%. The National Statistical Service has introduced the current-operative preliminary main macro-economic indicators characterizing the socio-economic situation of Armenia.
SAS Group Armenia runs one of the fast growing and leading supermarket chains – SAS Supermarkets.
Decrease of growth temp is conditioned by April’s index. This April compared with previous year’s April economic activity grew by 3.7%. Meanwhile in March, compared with previous year’s March, activity growth comprised 6.8%.
The community has over 5 thousand hectares of land which can be cultivated, half of which is in a dangerous zone. In some years, the Azerbaijanis had cultivated lands from their side and then quickly set it ablaze, and the re spread in the Armenian direction. The first ‘solar village’ is considered to be Lernamerdz community of Armavir.
“Currently there are energy production capacities in Armenia, which means Armenia’s market is enlarging and already regional considerations may be examined here. These opportunities include both traditional energy production and use of new—renewable green energy sources,” the Ambassador said, stressing that purpose of the conference is introduce existent opportunities in energy sector.
Firstly, Yerevan City Council elections were marked with rather low participation. Only 345 thousand out of 840 thousand eligible citizens have gone to the polling stations. Participation level comprises 41 percent.
On May 16 the Board of the Central Bank of Armenia (CBA) made a decision to keep the refinancing rate unchanged, setting it 6.0%, press service of the CBA told. In April, 2017, 1.0% ination was registered compared to 0.3% deation of April, 2016 which was mainly related with the formation of higher levels of prices of agricultural products.
On the other hand, SRC activeness contains risk for itself as well. If in the second quarter tax entries are over-fulfilled not by 12 billion, but e.g. 20 or 25, the Government may change its mind and raise the benchmark, demanding e.g. 80-100 billion extra taxes.
“By working with the Armenian government, we try to ensure favorable conditions in order for the business environment to be interested in making investments,” he said.
The EU-financed ‘Assistance for migration and border management in Armenia’ program began modernization works of border checkpoints in southern Armenia with the UNDP and state structures of Armenia.
Starting May 20, Armenia Airlines will operate the Yerevan-LondonYerevan regular flight with a stopover in Tbilisi, Georgia, Armenia Airlines told.
“It’s a matter of responsibility toward the homeland. However, let me say both I and many of the group members have pondered for weeks prior to joining: which is correct—keeping distance or involving in it?”
Growth temp of Armenia’s economy based on World Bank (WB) anticipations will comprise 2.7% in 2017. It’s enshrined in “Trade in Transition” report issued by the WB.
94.5% of the state budget has been formed at the expense of tax revenues and state fees, over 4.7% at the expense of other revenues, 0.8% at the expense of official grants. In the first quarter of 2017, the state budget entries amounted 255.5 billion AMD tax revenues and state fees, exceeding the quarterly program by 4.2%.
In the analytical part of recent economic development in Armenia it’s stated that the Russian recession continued to negatively impact remittances, which fell by 35 percent in 2015 and a further 10 percent in 2016.
“The bribed customs officers aren’t the only ones who have a share of guilt, but also the briber, smuggler, and seller of those apples. We have our share of guilt, and I announce that these people will be punished,” Harutyunyan said. Harutyunyan vowed to fight against corruption occurrences.
All flights will be operated by Boeing-737 aircrafts. The citizens of Armenia will already have a chance to arrive in Astana every week on Wednesdays and Saturdays starting from May 31.
Based on the information as a result of persistent work, targeted at reduction of shadow, average monthly shadow of taxpayers, assessed as risky by tax inspection agency for controlling large taxpayers, reduced by 32%.
European main indexes values for 10 May: the value of German DAX up by 0.07% to 12757.46 points, French CAC 40 up by 0.05% to 5400.46 points, British FTSE up by 0.59% to 7385.24 points, Russian MICEX up by 1.29% to 2028.21 points, and RTSI up by 2.39% to 1111.64 points.
The Nuclear Power Plant of Armenia will be removed from the energy production network on May 10 for carrying out regular planned reparation and refueling works, press service of the Armenian Ministry of Energy and Natural Resources told.
Starting from April 25, 2017 allocation and buyback auctions of Armenian government treasury bonds were transferred from Central Bank to “NASDAQ OMX Armenia” OJSC platform, “NASDAQ OMX Armenia” OJSC informed.
In January-March 2017 volume of passenger transportation in Armenia comprised 47.1 million persons. Compared with the same period of the previous year passenger transportation decreased by 6.1%. the information is provided by the National Statistical Service of Armenia.
“Thus, there is no economy, they only solve the issue of occupation. 90% of tax burden is on SMEs, i.e. we have an immense number—65 thousand of householders, however, economically we have a rather weak group of employers.”
Touching upon hidden threats of Azerbaijani apples, the 5th in the list should also be attached attention to—fresh or dried citruses. Around 7 thousand tons of fruits with USD 4.65 million have been imported in 2016.
State Revenue Committee of Armenia has published the list of largest taxpayers of the first quarter 2017. 1000 largest taxpayers of the Republic altogether have paid taxes and fees amounting around AMD 175 billion in the first quarter of ongoing year.
During the conference the Armenian companies established ties with startup companies and investors from Spain and other countries. The Armenian startups had a unique chance at the event to be involved in the European startup ecosystem.
“Now we are holding talks with other companies as well so that the number of financial structures engaged in the project will increase. The market is open, and the more the suppliers and financial structures, the more affordable for our farmers, rural entities to acquire the machinery,” Deputy Minister Robert Makaryan said.