Macroeconomy

 

Armenia’s overall public debt grows by $3.5 million to $6.762.5 billion
/Sept 12/ARKA/

YEREVAN – Armenia’s aggregate public debt at the end of August 2018 stood at $6.762.5 billion, having increased by $3.5 million from the previous month, Armenia’s Ministry of Finance said.
It said as opposed to the beginning of the year the public debt was down by $12.1 million. According to the National Statistical Committee, $6.182.7 million of the total debt were owed by the government, including $4.856.8 billion worth foreign debt ($15.1 decrease from the previous month) and $1.325.8 billion was domestic debt (an increase of $15. 4 million).
The Central Bank's debt at the end of August was $579.8 million (an increase of $1.4 million).
 

‘We succeeded in creating democratic administration system’ – Pashinyan’s interview to French Le Monde
/Sept 15/168.am/

Armenian Prime Minister Nikol Pashinyan was interviewed by the French Le Monde newspaper during his recent visit to France.

In the interview, the PM emphasized that since he took office there are no longer any privileged persons or privileges in Armenia, and that they are fighting an unprecedented fight against corruption and the underground economy [black market].

– What have you been able to change in Armenia after four month since taking office?

– The press is freer than ever now. For the first time in the history of the third republic there are no longer the privileged or privileges. We are fighting an unprecedented fight against corruption and underground economy. Economic monopolies no longer exist. Election of a mayor will take place September 23rd in the Armenian capital, which will become the freest in history. Unlike other revolutions, at least the ones I am aware of, in our case the revolution was not followed by economic decline. On the contrary, the indicators are positive, the capital is returning to the country, real estate prices are growing, bank deposits are growing. We succeeded in creating a democratic administration system.

– You were elected by parliament under public pressure, but MPs who were elected during the tenure of Serzh Sargsyan continue comprising majority there. Is this acceptable?

– When the parliament was electing me Prime Minister, I could only rely on four votes, one of which was mine. This parliament is a black stain in our political reality, but we must see the situation in its balance.
 

Eurasian Week to be held in Armenia this year
/Sept 18/Banks.am/

Initiated by the Eurasian Economic Commission, with the support of the Ministry of Economic Development and Investments and Business Armenia, Eurasian Week international exhibition forum is to be held in Armenia on October 22-24, 2018.

Eurasian Week is the largest international business forum in the Eurasian Economic Union (EAEU). The event focuses on establishing subcontractor relationships, strengthening cooperation in the Eurasian economic space and stimulating trade with third countries.

This year around 2,500 companies from the EAEU region and about 250 from none-EAEU countries will participate in the business forum.

The Eurasian Week will include an expo and the companies from Armenia, Russia, Kazakhstan, Belarus, and Kyrgyzstan will offer their products and services.

30 companies from each country will participate in the international expo representing industries such as food, pharmaceutical, light, construction materials, IT and concrete engineering as well as jewelry.

 “The Eurasian Week is a great opportunity for the economists of EAEU member states to establish new business contacts, sign new export and investment deals,” stated Business Support team leader Hayk Mirzoyan.

 “There will be B2B meetings too. Interested parties need to register on the official website, choose companies and set meetings,” stated the Exporters support manager of Business Armenia Anahit Mkrtchyan.

The deadline for submission of applications is on September 20, 2018.

The collection of applications of Armenian companies is conducted by Business Armenia, the organizing committee of the EAEU confirms the participation.


Individual taxi drivers in Armenia to be exempted from all kinds of taxes – premier
/Sept 19/ARKA/

YEREVAN – Individual taxi drivers in Armenia will be exempted from all kinds of taxes, Armenian Prime Minister Nikol Pashinyan said Tuesday after visiting Artsakh (Karabakh).
“The government is discussing now amendments to the Tax Code, and I can say that we are coming close to a very good decision for private taxi drivers,” he said in a live broadcast on his Facebook page. “We are very close to the decision that exempts private taxi drivers from any tax. They will not pay taxes and will work freely.”
This decision, he said, has also social significance. Many people who work, and work also in government agencies, keep their families also by driving taxis. 
“We hope that this decision will support the people who drive taxis individually, even if a few hours, and nothing will hedge them in working,” he said.
Pashinyan also stressed the importance of ensuring safety to traffic and passengers saying that technical service of taxis will be provided properly. 
“Technical servicing of cars is fictitious in nature, and we will do whatever is necessary to make car maintenance service proper to ensure traffic safety,” he said. 
The premier added that the ridding of individual taxi drivers from all kinds of taxation may also contribute to solution of the city transport problem. 
“We hope that individual taxi drivers will carry passengers at more affordable prices, especially those passengers crowding in evening hours at public transport stops,” he said. 
The prime minister also said that amendments to the Tax Code are very comprehensive and expressed hope that they will give a strong impetus to small and mid-scale businesses for development.

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