Armenia has produced Eurobonds, and this shift will leave its trail if we try to reproduce them, and we will mandatorily produce them to clear off the previous one. For instance, “Mudis” states that indicator of Armenia’s loan management is rather high, however, regarding budget deficit it’s stated that it increases our risks. And budget deficit isn’t a loan management, it’s management of our expenditures and incomes, and there are some problems here. We succeeded this year to confirm the budget a bit lower than previous year, we restrained budget appetite, but it wasn’t enough.
In case the Government abolishes customs duties for the implementation of investment programs, the investments of companies will reach 50 million USD. Up till now 6 organizations have been exempted from customs duties. As a result, 550 jobs have been created, Minister of Economy Artsvik Minasyan announced after the Cabinet meeting.
The Company anticipates to enlarge export mainly to Russia, EEU member countries, the USA, Canada, EU member countries, UAE, Hong Kong, Mexico, Iraq, Israel, providing annual export volume within USD 9.5 million in near future.
Interview with Jan van Bilsen, IFC Regional Manager for the South Caucasus
“The Armenia Investment Climate Reform Project, implemented by the World Bank Group’s Trade and Competitiveness Global Practice, continues to provide advice to the government on investment policy and inspections reforms. The project is built on IFC’s previous Investment Climate Reform Project (2011-2014), which helped the government of Armenia design and adopt reforms in taxes, trade logistics, inspections, and food safety.”
We won’t make unfounded statement that National Statistical Service is busy with painting, and just consider that conscientiously, through their methodology, not forging anything, they obtained growth index. However, if economy is being activated by 4.7%, and discontent and negative expectations increase, then 4.7% has nothing to do with the reality.
“Is your question correct? Currently I’m in my position, and I work. What does it mean “where do you see yourself?” I don’t know, as soon as it changes, we’ll decide on it together.”
In the wake of last week’s grassroots Fly-In to Washington, Armenian National Committee of America (ANCA) Legislative Affairs Director Raffi Karakashian has submitted testimony to key U.S. House and Senate panels supporting the foreign aid priorities of the Congressional Armenian Caucus and outlining the Armenian American community’s specific appropriations requests for Fiscal Year (FY) 2017, reports ANCA.
The point is, not being an oil exporting country, Armenia is the one dependent from oil. We are deeply dependent form Russia’s economy through money transfers by working migrants. Truly enough, due to decrease in money transfers, the ratio of transfers/GDP has slightly gone down—15%, however, it’s a bothering indicator as well. Regarding dependency from transfers, among CIS member countries, Armenia, perhaps, is back from Tajikistan and Kyrgyzstan.
t’s anticipated that in mid-term perspective a range of new powers will be initiated through application of new and clean (“green”) technologies in energy system, including solar energy as well, which will considerably ease burden of current productive powers, by decreasing dependency from imported hydrocarbon fuels, by which Armenia’s economy will be diversified, from the perspective of provision of alternative ways of power supply (import and/or production) and degree of energy independence will rise.
