Business & Economy

The world crisis, despite certain assurances, has already had an impact on the Armenian economy. The financial sectors have suffered too; specifically the sectors of crediting and risk increase have suffered. Despite this problem the Armeconombank has increased the capacity of money deposits on part of physical persons by 8.3%, and the capacity of deposits …

Yesterday the Head of Yerevan Office of the World Bank Aristomene Varudakis and the director of the regional office of the International Financial Corporation (IFC) Thomas Lubec held a press conference to elucidate the journalists that during the upcoming 4 years totally 670-700 million USD will be allotted to Armenia. The WB Board of Directors …

The notorious tax package once again returned to the government. On Monday the NA Speaker Hovik Abrahamyan didn’t submit the revised package for voting. And yesterday when addressing a Dashnak MP Vahan Hovhannisyan he said, “This thing needs to be handled with no rush, Mr. Hovhannisyan” and passed the floor to the government representative Souren …

Recently the Russian loan in the amount of 500 million USD given to Armenia remains in the center of people’s attention. Everybody speaks about that but hardly anyone knows how this loan is going to be used. The Russian loan has initially been covered in a “mysterious veil.” First after the agreement with the Russian …

Yesterday the head of the SIL Concern Saribek Sukiasyan made a statement offering two steps of overcoming the global economic crisis in Armenia. “One of the most important questions is the preservation of the present job posts. The state has to encourage the enterprisers not to dismiss their workers. The principle should be the lessening …

“If the state loans of 2008 are successfully acquitted in the US by the fall then the economy will recover over there in the fall. This means that this resurrection of economy will start in Russia in 3-9 months depending on the dynamics of oil price,” told our reporter the former Prime Minister of Armenia …

– Mr. Bagratyan, in the end of 2008 you said that the economy of Armenia would fall rapidly in 2009, however the government forecast 9% growth in the budget of that year. Now the IMF forecasts 5% slump of the Armenian GDP, and even the Central Bank predicts that the GDP will fall by 5.8%. …

The National Statistics Service has published information concerning the existing socio-economic situation in the country. According to this information, the slump of the Armenian economy was 9.7% during the period of January-April of this year. The report writes that all sectors of the Armenian economy have fallen in the mentioned period; specifically the slump in …

In March, 2009, the taxation service of Armenia checked up the activities of 55 companies included in the list of the biggest 325 taxpayers of Armenia, as a result of which the tax services collected additional 207.6 mln dram. This sum is more by 21.7% than in the same period of the past year. This …

The International Monetary Fund forecast earlier this month that the Armenian economy will shrink by 5%. Three days ago the Central Bank of Armenia (CBA) for its part made a further downward revision of its economic outlook ahead of the release of the fresh NSS figures. The CBA said it expects a GDP fall of …