Business & Economy

Experts from HSBC forecast zero economic growth in Armenia in 2009. Tim Slater, chief executive officer of HSBC Armenia, made an announcement containing such forecast. “We think that zero growth of GDP in Armenia will be a rather good result in consideration of the significant slowdown of money transfers into Armenia as a result of …

People say that in addition to the negative affects of the crisis it has a positive thing too, according to which people stop for a moment in order to revise the past and think newly. Now the authorities are indirectly confessing that something has been wrong in their past policy. The country had double-digit economic …

Unlike the assurances of the government and international financial institutions alleging that the policy of floating rate is justified with the purpose of supporting export and domestic production, international centers pledge that this policy has only one purpose and the Armenian government wants to take borrowing. The Bloomberg has discussed this topic too and the …

Armenian media proudly reports that large financial institutions are calling on other countries to follow Armenia’s bright example and adopt the policy of floating rates. In particular Commerzbank AG and UBS AG are calling on Russia, Ukraine and Kazakhstan to stop controlling the national currency exchange rate and for the purpose of protecting their economic …

The panic started in the society due to the devaluation of the AMD several days ago continued yesterday as well. People are most interested in the factual and future increase of prices of certain goods in the stores. In certain marzes bread price also increased. There were rumors about increase of bread price in the …

What happened in the economic life of Armenia two days ago is called shock in one word. Of course, everybody knew that the USD would be devaluated sooner or later but no one would think that the USD would leap that fast. Less than thirty minutes after the press conference of the CB chairman Artur …

The commission on regulating public services approved the applications on increasing the prices of natural gas, electricity and water. The price per cubic meter gas is 96 dollar for those using up to ten cubic meters, and 215 dollar for those using more. The day time price of one kwt energy is 30 dram, and …

The US department of State has published a very interesting report, which clearly shows how much money the post-soviet states have received “to develop democracy”. In 1992 the US Congress adopted a law on “Independence of Eurasia and supporting developing democracies and free markets of Eurasia”. As a result the US provided financial support to …

While the governments of other countries are thinking of resisting the crisis, the Armenian government is “encouraging the sailing of the Armenian ships”. Last week the government adopted a decision at a session and in order to make it easy to understand the foolishness of the decision we are writing the entire text. “The executive …

“We have the economic development information only for November, December and January months, during which the development was positive already. In consideration of the recent negative tendency of the economy, as well as the fact that the economy of Armenia’s major economic partner Russia is falling too, I think that we can’t expect good things …