Business & Economy

While the economic officials of Armenia are not losing a chance to brag about our banking system the data of the RA Central Bank witness of the opposite picture. The most important datum is that the 22 commercial banks operating in the territory of Armenia with their 391 branches received three times less profit in …

According to the official information of the state incomes committee, during eleven months of 2009 the largest 325 taxpayers have paid AMD154.8 billion to the state budget, which is less by 37.3bln than the sum paid to the budget in the same period of the previous year. The total amount received from the mentioned companies …

Prior to digesting 2009 already the picture of the current year has been outlined. And the main point of this picture will be the numbers and words in the form of various statutes, strategies and other eloquent words. As a matter of fact, nothing is going to be set as a priority. First let us …

The National Statistics Service has published the annual report on the macro-economic situation, according to which the GDP reduced by 16% druing the period of January-Novermber of this year. Compared to the same period of the previous year the production capacity reduced by 10%, the agriculture sector – by 0.2%, and the sector of services …

The predictions of the government, according to which we will close down 2009 with 15% economic slump, seem to come true. According to the latest publication of the figures of the National Statistics Service of Armenia Armenia’s economic recession in January-November of 2009 totaled 16% compared to the same period of the last year. Yesterday …

In November the number of unemployed in Russia increased by 5% by reaching 6 million 131 thousand. According to the National Statistics Service of Russia over 8% of the workable population of Russia is considered unemployed.

“The economy of Armenia didn’t digest the cement,” two days ago said the head of the Armenian branch of the World Bank Aristomene Varudakis. It is hard to figure out any other way to express the plight of our economy and what had happened to it. It means that the construction balloon, which our statesmen …

Finally the elected elite of the nation adopted the state budget 2010 with 82 for votes, 16 against and 1 abstainer. Having done this they consider that they are done with their duty; they closed the session and went to celebrate their holidays with a peaceful conscience. Let us remember that the final version of …

According to our information, on November 20 during the CIS intergovernmental bank session in Moscow the president of the Armenian Central Bank Artur Javadyan raised the issue of providing additional credit to Nairit Factory CJSC by the Intergovernmental Bank. As the countries of the intergovernmental bank (Russia, Kazakhstan, Ukraine, etc.) have refused to sponsor the …

Former chief of the Central Bank Bagrat Asatryan told our correspondent that if the authorities don’t change their behavior and don’t make reforms in the country, the country will only suffer as a result of developing the relations between Armenia and Turkey. According to him Armenia may suffer economically as well. “For instance, in order …