Business & Economy

Compared to the same period of the last year in the first quarter of 2009 the 22 trade banks of Armenia forecast nearly 64% decrease of credits to citizens. This information is provided by the 4th quarter report of the statistics department of the Central Bank of Armenia. According to this if in the first …

“Regardless of how surprising it may be simple things are needed to overcome this crisis – the criminal must sit in jail, the one, who refuses to pay taxes, must be punished, considered insolvent and his/her property must be confiscated, the corrupt statesman must be fired and punished, the elections must be free and fair, …

Yesterday was the deadline of the auction of Bjni mineral water company. The property and property rights of the company have been put for auction by the justice ministry’s department of mandatory fulfillment of judicial acts since January 23. However, during the past days no one applied for buying the company. The mentioned department of …

Several days ago the deputy-minister of economy Moushegh Toumasyan stated that the ministry is revising the predicted index of GDP for 2009. By saying that Toumasyan agreed with the forecast of the European Bank of Reconstruction and Development (EBRD), according to which the actual GDP growth in Armenia will amount to 5.5%. Reminder: Earlier the …

One year ago an agreement was signed between the Russian Alrosa company and the Armenian government regarding allotting quotas for diamond refinery. However, yesterday the president of the international association of Armenian jewelers Gagik Abrahamyan told us that that Alrosa is a mining company and in accordance with Russian legislation it cannot provide diamonds to …

– What is the plight of real estate in Armenia? – During the last 6 months the on-hold tendency has remained. The buyers are still waiting that hey may purchase real estate at a cheaper price. And the sellers are not rushing to lower the price. Of course, there are also un-delayed transactions. For example, …

It is a fact that Armenia is a part of the deep international crisis. Our country saw what happened in Europe, Russia and Ukraine, and now is looking for ways out of this difficult situation. Europe is cutting down investments in production, construction and research, particularly in fields which “can wait.” Now Europe is looking …

“The tools of loosening the tax burden of small and medium businesses are known. There is no need to invent a bike. First of all we need reduction of income and profit taxes. In different countries the governments currently implement that policy. As for the businesses, which have high incomes and profits the taxes must …

– Can the international crisis drastically affect Armenia’s economy? Will the foreign monetary remittances be decreased or not? – A lot was said about the possible effects of the international crisis in Armenia. Therefore, I’d not like to focus too much on that. As of its volumes I think in this economic quarter the effects …

Robert Faleta, director of Dino Gold Mining CJSC, informed Hetq news agency that if the economic environment gets worse their company may be closed. Concerning the expected recessions he said, “I can’t say what recessions there will be specifically. This fact is not connected with the agreement so much, it is mostly connected with the …