“Despite difficult external conditions, implementation of the program is quite satisfactory, major part of purposes has been fulfilled,” IMF Deputy Managing Director Mitsuhiro Furusawa explained the resolution of the directors.
“The Government has also defined recommendations to undertake necessary measures and to settle the issue it negotiated with donor enterprises on account of the fact, that involved loans shouldn’t exceed USD 30 million and their return should be implemented in the period of 25-30 years,” the Deputy Minister said.
And this, of course, can’t be positively accepted by the society and the business. This assessment of “positive influence on incomes” or increase of tax burden, basically, was the most sincere confession by the representative of economic bloc. Prior to that, when criticism was heard that the Tax Code doesn’t contribute to the development of economy, but was preventing it, respective bodies disagreed, saying it was a document based on balance model.
Number of vehicles possessing APPA contracts as of 31 April, 2016 comprises 438420, drivers of which paid AMD 8 billion 166 million 367 thousand. As compared to the same period of the previous year increase in number of vehicles is being recorded by about 4500, however, payments by drivers decreased by AMD 270 million.
According to the Deputy Minster, the program consists of two parts: a road with a length of 92km, and 3 tunnels will be rehabilitated, which were constructed in the Soviet period, however, from the very first moment they weren’t meant for lorries, some part (38 km) is totally in poor condition, which will be rehabilitated, in other parts partial improvement will be implemented, and the part near Georgia, rehabilitated by Lincy Foundation, will be changed.
The deputy chairman assured that overwhelming majority of offers by the public sector was approved. In response to discontent, that offers were approved, however, Mirumyan didn’t approve that the National Assembly sent the draft bill upon its initial variant. In his words, agreement was reached around 4 issues.
“This is in spite of a range of past and ongoing initiatives taken by the regulators to reform the sector. These initiatives have, however, been taken without reference to a policy or longer term strategy. The world’s commodity markets are presently depressed, with generally low prices and low demand. “
Overdue loans of Armenia’s banking system continued to grow in April 2016 and reached a risky index—AMD 46 billion 379 million. Upon RA National Statistical data, as compared to March, volume of overdue loans grew by AMD 892 million or 2%, and as compared to January—by about AMD 6.5 billion or 16.2%.
Alina Romanowski, Coordinator for U.S. Assistance to Europe and Eurasia, during the hearings introduced the four main directions of economic assistance in the territory of Eurasia. In particular, they include strengthening of countries’ independence and sovereignty, helping countries to defend from external pressure, fight against corruption and provision of rule of law, strengthening of democracy and protection of freedom of speech, as well as maintenance of peace.
However, it’s worth fixing the following fact: the Government did it upon its own initiative, without pressure of the opposition. Yes, the April war played its role here, which revealed the issue and made urgency of their settlement obvious. However, it’s worth stating once again that parliamentary opposition didn’t have its role here.
