In the first quarter of 2017 compared with the same period of 2016 number of tourists visiting Armenia has grown by 18.2%. Zarmine Zeytuntsyan, Chairperson of State Tourism Committee of the Ministry of Economic Development and Investments, told about this recently.
Economic year of 2016 wasn’t successful—weak economic activity was recorded—0.5%, and instead of anticipated 2.2% real GDP growth it comprised only 0.2%.
While summing up economic year in January and introducing anticipations for the upcoming year Azerbaijani president stated that “The biggest blow to the national economy was recorded from the side of the banking system.”
Economic growth of the first two months of ongoing year was impressive-about 6%. Double digit growth indices for industry and services, foreign trade were impressive as well. However, there is one index, which doesn’t comply with the temp of economic activity. It refers to real estate market.
Armenia’s state debt as of February 2017 comprised AMD 2 trillion 901.3 billion or USD 5 billion 961.2 million. Compared with the beginning of the year Armenia’s state debt has grown by USD 25.7 billion, from which: government’s external debt in USD expression almost hasn’t changed, it remained within USD 4.3 billion.
Central Electoral Commission (CEC) of Armenia has calculated preliminary results of parliamentary elections held on April 2 based on data received from all 2009 polling stations.
National Statistical Service of Armenia issued statistics of investments for 2016. As April 1 is the silence day of election campaign, we won’t reflect to promises of political powers and their programs. Instead, we’ll introduce what snapshot we had in 2016, how much investments we had, from which countries and in which fields.
Foreign investments have become one of the most contemporary promises of this election campaign. Almost all promise investments, some—many, some—few, some give exact numbers and some—not.
From the beginning of the week abundance of Iranian tourists was observed in the capital. Novruz Bayram—New Year of Iranians has brought them to Armenia, which starts from the fourth week of March and lasts for 13 days. In the period of those two weeks Armenia welcomes 20-25 thousand Iranians.
Based on result of the first two months of ongoing year economic activity index (EAI) comprised 6.2% (compared with January-February of the previous year). On monthly basis February 2017 compared with February 2017 economic activity grew by 6%.
The requirement of mandatory audit for big companies is coming back, i.e. big companies will have to publish their reports after they are inspected by an independent auditor. This is a rather crucial event in the economic life, which remained in the shadow of pre-election turmoil.
This election campaign differs from the previous ones. It varies not only by amended Constitution, but by the very content of the campaign.
5 political parties and 4 alliances, taking part in the upcoming parliamentary elections on April 2, have filled in declarations of property and incomes, which are available on the official website of Central Electoral Commission (CEC).
10 days ago National Statistical Service of Armenia issued initial macroeconomic indices for January 2017, pursuant which Armenia’s economic activity growth comprised 6.5% compared with previous January.
Armenia’s macroeconomic indices for 2016 were mainly disappointing. More or less consoling were data for external trade turnover. In 2016 export has grown by 20%, comprising USD 1 billion 782.9 million. From which: export to Eurasian Economic Union (EEU) member countries has considerably grown.
What do you think: if one of the powers participating in the parliamentary elections states, that coming to power the pension will become AMD 500 thousand, salary of teachers—AMD 1 million, prices of consumer goods will half decrease, and public services (gas, electricity, water) will make free of charge, what will happen then?
First data of 2017 are already known: National Statistical Service of Armenia issued initial macroeconomic indices for January 2017.
During the government’s last session on December 29, 2016 PM Karen Karapetyan, applying to Artur Javadyan, Chairman of the Central Bank of Armenia (CBA), asked whether CBA will constantly reduce refinancing rate.
What effect do elections have on economy? Generally, it’s accepted to consider—not a positive one. To some extent elections mean uncertainty. And uncertainty generates expectant moods.
Upon Numbeo’s freshest data level of crime in Armenia is assessed 27.08 points, i.e. it’s even lower than the lowest dimension. Among observed 125 countries Armenia is ranked the 19th as a safe country.
Decrease in the field of construction has already become usual. The then driving force of economy started to rush down from 2009 and the process continues until now. Upon the data of National Statistical Service of Armenia construction volumes comprise AMD 397.6 billion in 2016, which is less by 10.8% from previous year’s index.
Expenditures in the field of apartment construction and services have decreased the most—18.2%, thus, comprising AMD 16.3 billion. The highest growth—10.7% was recorded in general public services. Expenditures directed to the field of defence have grown by 6.7% in 2016 and comprised AMD 211.8 billion.
Attentive readers, perhaps, may have noticed, that Armenia’s banks have recently activated their ads linked to provision of loans, i.e. they propose loans, as they state, with beneficial, flexible, unprecedented conditions.
Inflow of transfers has reduced by USD 138.4 or 10.4% compared with January-October of the previous year. If the decline temp was maintained in November-December, as of data for 2016, transfer inflow will comprise USD 1 billion 460 million.
However, cargo transporters observe upsetting regularity. Particularly in the last 2 years (after Armenia’s membership to EEU) Lars has become more problematic.
The data issued by the RA National Statistical Service (NSS) yesterday make this upsetting snapshot even more complete. Thus, NSS issued GDP data for the third quarter of 2016 (from 2011 GDP calculations are being introduced once in a quarter). In the third quarter of ongoing year Armenia’s GDP comprised AMD 1 trillion 518.3 billion.
In the period of January-September 2016 export volume from Eurasian Economic Union (EEU) member countries comprised USD 274.1 million. As compared to the same period of the previous year, export from Armenia to EEU has grown by 55.2%. This information was provided by the Eurasian Economic Commission (EEC) database.
Main source of income for households of the Republic of Armenia is hired job. Thus, monthly nominal monetary income of households in 2015 per capita comprised AMD 52377, from which AMD 28800 (55%) comprises hired job. This information was provided by RA National Statistical Service through its report entitled “Food security and poverty 2016.”
Drop of beer production volumes and import growth. What should the state do in such cases? Support local producer/exporter or at least not create issues for them?
Economic Activity Index (EAI) in the period of January-October of ongoing year, as compared to the same period of the previous year, is 100.4. This means, that throughout the first ten months EAI has grown by 0.4% only. On a monthly basis the snapshot is even more disappointing: on October 2016, as compared to October 2015 EAI has decreased by 7.8%, and, as compared to September 2016—by 18.7%.
It may considered that this is natural, however, on the other hand, the snapshot indirectly edifies centralization of economic activeness and resources in Yerevan.
At the joint press conference of PMs of Armenia Karen Karapetyan and of Artsakh Arayik Harutyunyan, launched in Artsakh, as anticipated, the issue of gas tariff review was touched upon again. Reporters asked again: how “Gazprom-Armenia” operating with a loss, reduces the tariff and won’t we withdraw any property to this company in the future?
In short, “Gazprom Armenia” and its owner go against their interests to do something good for the Armenia population. It’s a bit difficult to believe in this. Especially, when “Gazprom Armenia” is a company functioning with a loss: 2015 was terminated with AMD 10.7 billion loss.
As mentioned in the report, advancement by 5 ranks has mainly been recorded on account of recalculation, conditioned by change of methodologies and adding by one economy—Somalia. Besides technical reasons, Armenia has also facilitated doing business in the two fields mentioned in the report—loan allocation and contract enforcement.
Our sworn friend Russia and that much sworn enemies are in active socializations. A few days ago presidents of Russia and Turkey signed a document, the so-called “Turkish flow” on construction of a gas pipeline.
“If any of you opens 10 workplaces, it comprises 1000 workplaces, if you open 1000, I multiple it by 5, imagine, you don’t let people quit Armenia,” Hranush Hakobyan told this to “Russia’s powerful men” (upon her own formulation) during the meeting with presidents of the regional division of the Union of Armenians of Russia.
2.5 months prior to the deadline it became clear that the third bank, quitting Armenian banking system is Areximbank-Gazprombank Group CJSC. Initially Russian press informed that Gazprombank has sold Armenian Areximbank.
The most characteristic phenomenon of recent days of global economy is drop in price for energy. Pursuant the first half 2016 economy of the neighboring country is being developed on account of mining industry by 40% GDP.
Since 2005 specific gravity of deposits in dram started to grow. From 2007 to late 2008 deposits in dram were prevailing with the ratio of 63/37. It was conditioned by constant strengthening of the dram.