‘Economics’ Archives
European Commission adopts € 24 million financing program for Armenia
The European Commission adopted on Monday the second part of the Annual Action Program (AAP) for Armenia for 2011, worth € 24 million. The program will contribute to the improvement of public sector transparency and performance, including the broadening of e-governance systems. Moreover it [...]
Number of poor increased by 270,000 in Armenia
Number of poor people increased by 270,000 in Armenia during the last two years, as a result of the 2008-2009 economic downturn. Currently there are 1.2 million poor people in Armenia, publication on social image of Armenia and poverty by the Armenian National Statistical Service for November [...]
US dollar goes down in Armenia
Following a relatively stable period US dollar went down again on NASDAQ OMX Armenia stock exchange on Tuesday with the exchange rate making AMD367/$1 against AMD368 on Monday. Most likely, the decline is conditioned by growth of supply ahead of new school year. Sales totaled $2.45 [...]
How to defend Armenia from the crisis
Former RA Prime Minister, economist Hrant Bagratyan doesn't exclude the continuation of the global economic crisis and if so, foresees that the crisis will hit Armenia in September-October. According to him, if the government is smart, it will put an end to the devaluation of the euro. "Armenia [...]
Will MP Samvel Alexanian be fined?
RA State Commission for the Protection of Economic Competition (SCPEC) is scheduled to make a decision on the unfair competition and violations committed by Alex Grig Company this week. SCPEC's check-ups revealed that several types of vodka, bottled and sold by Alex Grig, received their [...]
Huawei and ZTE intend to launch activity in Armenia
Armenian President Serzh Sargsian, who is in China for a visit, held meetings with Executive Director of Huawei Corporation and President of ZTE Corporation. Mediamax reports referring the press service of the President that Serzh Sargsian and Head of ZTE Corporation discussed the chances for [...]
Serzh Sargsyan and Hu Jintao discussed Armenia-Iran railway construction
Development of the relations with China is a priority of Armenia’s foreign policy, RA President Serzh Sargsyan said during the meeting with Chinese President Hu Jintao. Serzh Sargsyan arrived in China to participate in the opening ceremony of Expo 2010 Shanghai. According to RA President, high [...]
Armenia’s GDP increased by 5.5% in Q1 2010
RA National Statistical Service (NSS) publicized information about the socio-economic situation in Armenia in Jan-March, 2010. In Jan-March, 2010 Armenia’s GDP increased by 5.5% compared with the same period last year. According to statisticians, GDP per capita made nearly AMD 175.000 ($455 or [...]
Third of commercial banks suffer losses
According to RA National Statistical Service, as of December 31, 2009 of 22 commercial banks in Armenia only 14 operated in the black, generating profit of AMD 12.4 billion. The rest eight banks ended the year in red totaling AMD 3.8 billion. Thus, total profit of Armenian commercial banks made AMD [...]
17.4% increase in Armenia’s budget revenues in Jan-Mar
This January-March, Armenia’s state budget revenues totaled 164.1bn AMD, and on-budget expenditures 170.1bn AMD – 107.8% and 90.5% implementation of the respective government programs for the first trimester. The pres service of the RA Ministry of Finance informed NEWS.am that, during the [...]