Prime Minister Hovik Abrahamyan held a government meeting regarding the new Tax Code draft. As “Armenpress” was informed from the Information and public relations department of the Government of the Republic of Armenia, in particular, different issues applicable to various fields related to taxes were discussed. Attention was paid to the possible effects of changes in the Tax Code.
Armenak Darbinyan said that the CBA’s policy seeks to encourage, support and help the banks to attract more resources from international markets. In addition, the Central Bank’s financial education and consumer advocacy department is trying to assist consumers to better orientate among the different credit products, through the abcfinance.am website. “Information about the credit is provided, format of working with the banks is simplified in order for the clients not only to look at the percentage of the loan, but also to choose between different banks, products, be able to plan their budgets, calculate costs and benefits, to avoid facing problems in the future,” the official added.
Minister of Finance of the Republic of Armenia Gagik Khachatryan and World Bank’s Regional Director for the South Caucasus Mercy Tembon signed a loan agreement on February 23. As “Armenpress” was informed from the press service of the Ministry of Finance, the WB will provide Armenia with 55 million USD loan with 25 years maturity date 14.5 of which is a grace period.
At present, if a part of plant’s property is transferred to Nairit-2 for the debt, and is alienated, Nairit Plant will face serious issues. Currently Plant’s main property is venues and facilities, as sale of worn-out equipment isn’t going to provide sufficient amount.
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.
