“After establishment of EAEU it was generally stated that numerous countries attempt to cooperate, sign a free trade agreement with that union, however, until now only 1 country has signed it—Vietnam, which signed it with exceptions. Names of more than 40 countries have been given, neither of which has signed it.”
Economic year of 2016 wasn’t successful—weak economic activity was recorded—0.5%, and instead of anticipated 2.2% real GDP growth it comprised only 0.2%.
While summing up economic year in January and introducing anticipations for the upcoming year Azerbaijani president stated that “The biggest blow to the national economy was recorded from the side of the banking system.”
“Investors’ Club of Armenia”, created by the initiative of Prime Minister Karen Karapetyan and President of “Tashir” group of companies, famous businessmen Samvel Karapetyan, plans to make 300 million USD investment programs in Armenia in 2017, Ashot Manukyan – Minister of Energy Infrastructures and Natural Resources, said at the Government session.
As result, around 18 tons of agricultural products, mainly tomatoes, were discovered. The smugglers attempted to transport the products in hidden storages of vehicles. All attempts were prevented, the SRC told.
During the reporting period, the balance of loan and grant resources from external sources was added by 1,6 billion drams – instead of using the planned 4,6 billion drams under the first quarter. Armenia’s net external financial assets comprised -10,9 billion drams in January-February (104,8% of the quarterly program) in comparison to the planned 10,4 billion.
Economic growth of the first two months of ongoing year was impressive-about 6%. Double digit growth indices for industry and services, foreign trade were impressive as well. However, there is one index, which doesn’t comply with the temp of economic activity. It refers to real estate market.
According to the data of the Eurasian Economic Commission, the prices in Armenia’s consumer market decreased by 0.9% in February compared to January, whereas compared to February 2016, the decrease was 0.4%.
Azerbaijan has raised hysteria after Karabakhi vodka appeared in Duty Free. The Moscow office of the Azerbaijani haqqin.az news agency has “emotionally” responded to the sale of grape and apricot, as well as other types of “Karabakh” vodkas in St. Petersburg’s Pulkovo airport’s Duty Free zone.
Around 7500 hectares area of Ararat Valley will be soon provided by reliable irrigation system: construction of Vedi reservoir has been launched. With 29 million m3 total capacity, this reservoir is the first to be built from zero in the history newly independent Republic of Armenia.
