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.
There is another circumstance regarding breaking of vendor-importer connection; when “Carrefour” came to Armenia, we were very delighted and enthusiastic, and the latter is such a firm, it imports and sells its own production. This policy shouldn’t move it out. It’s accepted in the whole world and is an essential factor for price reduction that non-advertised commodities are bought and sold under their brand, or you may attach your brand, raise the price if the advertisement is good. These are trade tricks.
Deputy Finance Minister Pavel Safaryan says the Government will present a program on cutting state spending by the end of June. Currently ministries are engaged in discussions.
The Government has approved the “Local economy and infrastructure development program” loan agreement signed on February 23 with the European Bank for Reconstruction and Development.
“We must create all necessary conditions for the sustainable development of economies of our states. And it cannot be achieved without the creation of favorable conditions for the business. Business must be the key subject and beneficiary of the Eurasian integration”, he said.
