Armenian economic activity index for January 2016 surpassed the index of the same period of the previous year by 5.5%. “Armenpress” reports the National Statistical Service of the Republic of Armenia has introduced the current-operative preliminary main macro-economic indicators characterizing the socio-economic situation of Armenia. Trade and foreign trade turnover have dropped.
Tatyana Valovaya, Minister for Development and Integration of Microeconomics of Eurasian Economic Commission, announced on February 9, that charging of 20% VAT from physical persons, importing vehicles to Armenia from EEU member countries by Armenia’s authorities, contradicts legal-contractual framework of the Union
Despite exchange rate of Armenian currency (AMD) was comparatively stable throughout 2015, RA citizens were rather cautious during the year, and preference was given to foreign currency in keeping savings. Data by Central Bank of Armenia, particularly, on level of dollarization, are a proof to that.
Thus, although 2015 was a year of miscellaneous political and economic shifts, especially for countries of the region, Armenia’s economy succeeded in providing EAI by 2.9%. 2015 was also noteworthy, as some strategy documents have been adopted to develop innovation economy and SME, as well as to improve business environment in Armenia (particularly, the draft Tax Code, amendments in the Labor Code and etc.).
The Embassy of Canada in Moscow organized a food promotion event in Yerevan on January 26th, 2016, where representatives of the Armenian HORECA and meat production sector were introduced to Canadian food products such as meat, seafood and wine.
During an official ceremony on January 27, NASDAQ OMX Armenia marked the successful launch of the first securitized bond issuance in Armenia and announced the listing of these bonds at the stock exchange for the secondary market trade.
On the 30-th of December 2015 “Ardshinbank” CJSC and the European Bank for Reconstruction and Development (EBRD) signed an agreement whereby Ardshinbank joined the Trade Facilitation Programme of the European Bank for Reconstruction and Development as an Issuing Bank. Within the framework of the agreement EBRD has provided Ardshinbank with a US $10 million limit to be used for trade finance transactions.
The “Belt and Road” Initiative, first proposed by the Chinese President Xi Jinping in 2013, is a trade and infrastructure network that includes the “Silk Road Economic Belt” and “The 21st Century Maritime Silk Road”.
The European Bank for Reconstruction and Development (EBRD), the Ministry of Finance of Armenia and the Municipality of Yerevan city have signed an agreement to allocate a co-financing grant of €1.9 million to support the modernisation of street lighting in the city of Yerevan.
Geoteam hasn’t started mining in Amulsar yet but the company has made significant social investments. In Armenia the investment of business entities into social projects is often taken with suspicion especially when a company hasn’t seen profit yet. Why would at all a business entity undertake social development projects?
