‘Economics’ Archives
Dram losing role in Armenian economy, CBA ex-chairman says
As of this January a 25% decrease in the amount of private transfers, one of the movers of economic development, was registered in Armenia, the ex-chairman of the Central Bank of Armenia (CBA) Bagrat Asatryan told reporters on March 30. This year Armenia is likely to receive less funds than [...]
Armenia registers region’s 2nd highest unemployment
A 12.6% unemployment level has been registered in Armenia. Thus, as the Georgian Business Week reports, Armenia has registered the second highest unemployment rate in the region – Georgia has registered the highest unemployment level, 16.3%. Azerbaijan registered 6.1% unemployment, and Russia [...]
12.6% budget expenditure program performance in Jan-Feb
Budget revenues exceeded 103.1bn AMD, and budget expenditures 106.2bn AMD in Armenia this January-February. The press service of the RA Ministry of Finance informed NEWS.am that, during the period under review, the quarterly budget revenue program was implemented 68.3% and the quarterly budget [...]
ADB to extend USD300 million to Armenia
Yerevan Mayor Gagik Beglaryan met with Asian Development Bank delegation (ABD), Mayor’s office reported. In June, ADB board plans to consider the issue of USD300 million crediting for Armenia. The funds will be allocated to large-scale subway construction works, and renewal of city transport. [...]
ANCA thanked Congressmen for additional financial aid
With Congressional appropriators in the early stages of crafting the Fiscal Year 2011 (FY11) foreign aid bill, Congressional Armenian Caucus Co-Chair Frank Pallone (D-NJ) was joined by 27 of his U.S. House colleagues in urging the inclusion of a series of provisions aimed at strengthening U.S. ties [...]
First NPP to cost Turkey $10bn
Estimated cost of the first nuclear plant in Turkey with capacity of 4 GW might make $10bn, reads the Russian Strategy Development journal by RF Energy Ministry. NPP in Turkey is planned to be built near the Mediterranean port Mersin. The offer by consortium includes the construction of 4 [...]
Dram depreciation prevented
Today, March 23, U.S. $3.1m transactions have been effected at the NASDAQ OMX Armenia at an average exchange rate of 395.44 AMD/U.S. $1. The closing rate was 394.5 AMD/U.S. $1, CBA Public Relations department informed. Last week the exchange rate of the U.S. dollar reached 410 AMD. The CBA [...]
Prices of pure metals go up
The Armenian Ministry of Finance has set the state prices for chemically pure metals in the Armenian dram: Gold: purchase price-13361.98 (+383.69), sale price -14523.89 (+417.05) Silver: purchase price- 207.20 (+7.45), sale price - 225.22 (+8.1) Platinum: purchase price - 19429.19 [...]
Unibank plans to increase loan portfolio to AMD 90 billion
Unibank CJSC plans to increase loan portfolio to AMD 90 billion, providing 35% growth of credit investments, the bank’s press service reported. As of February 2010, Unibank loan portfolio comprised AMD 66,5 billion, including AMD 39 bln. 87 mln. of business credits. In 2010, the bank [...]
Petrol Prices in Armenia Just Keep Going Up and Up
Once again, companies that import and sell gas in Armenia connect this usual raising of the cost of petrol (gasoline) in Armenia with the recorded exchange rate fluctuations of the Armenian dram and the US dollar and with the increase in the cost of oil in the global market. Local Armenian [...]