BUSINESS & ECONOMY

Consumer loans in Armenia grow by 4.3%

Consumer loans in Armenia grow by 4.3%

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%).

Georgian visitors “against” tourists arriving in Armenia

Georgian visitors “against” tourists arriving in Armenia

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.

Kazakh airline to operate flights to Yerevan

Kazakh airline to operate flights to Yerevan

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.

Belavia airline resumes flights to Yerevan

Belavia airline resumes flights to Yerevan

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.

Why did economic activity slow down?

Why did economic activity slow down?

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%.

Armenia’s economic activity rate rises

Armenia’s economic activity rate rises

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.

Growth temp slows in April

Growth temp slows in April

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%.

Armenia’s Noyemberyan community transitions to solar energy

Armenia’s Noyemberyan community transitions to solar energy

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.

Armenia may become a good market: American investors interested in Armenia’s energy sector

Armenia may become a good market: American investors interested in Armenia’s energy sector

“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.

Yerevan’s predictable elections

Yerevan’s predictable elections

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.

CBA keeps refinancing rate unchanged, sets it 6%

CBA keeps refinancing rate unchanged, sets it 6%

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.

How far will SRC go?

How far will SRC go?

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.

Armenia’s state budget revenues increase in the first quarter

Armenia’s state budget revenues increase in the first quarter

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%.

Poverty rate grew in Armenia in 2016: World Bank

Poverty rate grew in Armenia in 2016: World Bank

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.

Shadow of large taxpayers

Shadow of large taxpayers

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 Stocks up

European Stocks up

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.

Number of taxi users decreases in Armenia

Number of taxi users decreases in Armenia

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.

Taxpayers paying billions

Taxpayers paying billions

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.

AGBA Leasing CJSC joins agricultural machinery leasing subsidization program

AGBA Leasing CJSC joins agricultural machinery leasing subsidization program

“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.