Business & Economy

– Will the Armenian economy benefit from developing relations with Turkey? – Of course yes. For any liberal economy good relations are a condition for development. Armenia will benefit from it as it will have a door to the European economies. The history of developing of the economies of small countries shows that the small …

On December 7 the president of Armenia visited Gyumri to commemorate the victims of the 1988 earthquake. He put flowers on the monument of the innocent victims and participated in the religious ritual of commemoration. The president also visited the sugar factory of Akhuryan. The construction of this factory started in summer 2006 and will …

Yesterday the National Statistics finalized the preliminary results of the past 10 months economic indices once again confirming that in Armenia the GDP slumped by 17.5%. As we have already written a slump was registered in all the sectors. The worst was hit the construction sector – 41.6%. According to the National Statistics Service (NSS), …

– Mr. Sandoyan, how do you estimate the current state of Armenia’s economy? – The economic growth is a very important factor for the development of society but it’s not sufficient. Even if for a certain period of time we were leading the world list of countries with economic growth and prior to the crisis …

– Are businessmen, small and medium businesses protected in Armenia?  – Generally the interests of employers are abused in all sectors of Armenia, especially in small and medium businesses. Let’s start our discussion from the labor code. There are few provisions in this law aimed at protection of employers’ rights; it seems this law is …

As they say we are there. After having dual digit economic growth for years we reached the point when we get happy with the low rates of economic slump. Armenia’s GDP in January-October, 2009 slashed by 17.5% year-on-year, the country’s National Statistical Service said. Last month a recession of 18.3% was reported in Armenia. According …

The time is an interesting thing. It can change everything, including the attitude of people by 180 degrees to this or that phenomenon. For example, at the end of the last year, the government of Armenia headed by Tigran Sargsyan had an emphasized indifferent attitude to the global economic crisis. He was ignoring this crisis …

One week ago the representative of the International Monetary Fund in Armenia, Ninke Omes, diplomatically threatened the Central Bank of Armenia not to keep the exchange rate of the Armenian dram stabile by selling dollar all the time. The IMF representative says the IMF has foreign currency reserve limits, which should be provided by the …

– Do you think the cargo transportation rates may be decreased after the opening of the Armenian-Turkish border? – We should not expect a big change in the beginning. It does not mean that instead of using the Georgian territory and the ports we will have better conditions offered by Turkey. We know the price policy …

The opening of the Armenian-Turkish border will have a positive impact on Armenia because in this case the transportation costs to Europe and Middle East will be cut by at least 30%. Yesterday during the interview to the A1+ such an opinion was expressed by the former deputy-minister of finances of Armenia Levon Barkhudaryan. “This …