Macroeconomy

 

Armenian families’ spending on New Year celebration will increase this year by 10-15%
/Nov 12/ARKA/

YEREVAN – According to approximate estimates, Armenian families’ spending on New Year celebration will increase this year by 10-15%, Hrachya Berberyan, the chairman of a union of farmers, told a news conference today.
He said price rise will affect meat, potatoes and fruits, except for bananas, which have seen an unprecedented drop this year. 
Berberyan claimed this year’s crop of fruits and vegetables will be 300 thousand tons less from the last year. In his words, Armenia has never seen such a drop in the production of potatoes, tomatoes, eggplants and cucumbers in one year. 
Berberyan said according to official data, the land under plants decreased by 6.5 thousand hectares, of which 3.2 thousand hectares were land under potatoes and 1.75 thousand under tomatoes.
“The most amazing thing is that the officials who are responsible for this sector, are not only poorly educated, but are also trying to blame the drop on the summer heat. When Prime Minister Nikol Pashinyan was angered by the news, they blamed the drop in tomato production on moths,” said Berberyan.
He also argued that over the last two years, the livestock of sheep and pigs slashed by 15%. ‘Over the past two years, everything was done to damage cattle breeding and, in my opinion, it was done on purpose. It started when a huge batch of milk powder was imported from Ukraine. The price of milk fell to 80 drams, making cattle breeding unprofitable for farmers, who had to butcher their cows,” he said, noting also that the situation was aggravated by the problem of feed.
He “comforted” the citizens with the news that the rise in prices would not affect alcoholic beverages, since they are already sold in Armenia with super-profits reaching 300-400%.


ԱԺ մշտական հանձնաժողովը դրական եզրակացություն տվեց 2019թ. պետական բյուջեի նախագծին
/Nov 12/Verelq.am/ 

ՀՀ Ազգային ժողովի տնտեսական հարցերի մշտական հանձնաժողովը միաձայն դրական եզրակացություն տվեց 2019 թվականի պետական բյուջեի նախագծին:

Նախագիծը կքննարկվի ԱԺ լիագումար նիստում, ապա նաև ԱԺ արտահերթ նիստում:

Հանձնաժողովի նախագահ Խոսրով Հարությունյանի խոսքով, պետական բյուջեի փիլիսոփայությունը մեծ իմաստով պահպանված է և համապատասխանում է այն մարտահրավերներին, որոնք առկա են: Բացի այդ, նշեց պատգամավորը, առաջին անգամ 2019թ. բյուջեն ներկայացվում է ծրագրային բյուջետավորման ձևաչափով:


State budget revenues to exceed expenditures for the first time in Artsakh – finance minister
/Nov 12/168.am/

Finance minister of the Republic of Artsakh Artur Harutyunyan announced during the working consultation convened by the President of Artsakh that the state budget revenues will exceed the expenditures for the first time in Artsakh.

“We have introduced the 2019 state budget draft to the President, according to which the money in terms of revenues will comprise 112 billion 300 million AMD, and that of the expenditures – nearly 111 billion AMD”, the minister said.

He added that the budget proficit (surpass of revenues over expenditures) comprised 1.3 billion AMD which is unprecedented for the Artsakh Republic.

“We have an increase of expenditures mainly in capital investments – nearly 1.6 billion AMD, healthcare sector – about 770 million AMD and social protection field – 480 million AMD. The expenditures on capital investments will be mainly directed for the economic development, as well as for the implementation of construction programs of several objects with social significance. The increase of expenditures in the healthcare sector is mainly linked with the nearly 15% increase of salaries of the medical staff, as well as with the implementation of several programs. The increase of expenditures in the social sector is conditioned with the introduction of the accumulative pension system in Artsakh from January 1, 2019, connected with the additional revenues paid by the state”, the minister noted.
 

Average price for one square meter in apartment blocks in Armenia up slightly in September
/Nov 13/ARKA/

YEREVAN – The average price for one square meter in apartment blocks in Yerevan provinces went 0.8 percent up in September 2018, compared with the previous month, the Real Estate Cadastre Committee of Armenia says in its monthly report. 
Compared with September 2017, the price rose 10.6%. 
According to the report, the highest prices were recorded in Yerevan’s Kentron (Center) district – AMD 452,800 per one square meter, on average, and the lowest price in the capital city’s Nubarashen district – AMD 156,000. 
The average price for one square meter in apartment blocks in provinces rose 0.2% in September. 
The highest, AMD 285,000 price in provinces was recorded in Tsakhkadzor, a popular resort, and the lowest in Dastakert – AMD 21,400. ($1 – AMD 488.57).


Գազի և էլեկտրաէներգիայի սակագները հնարավոր է իջեցնել Մելքումյան
/Nov 13/Verelq.am/

Գազի եւ էլեկտրաէներգիայի հարցով ԱԺ քննիչ հանձնաժողովը հայտնաբերել է պահուստներ, որոնք թույլ կտան նվազեցնել գազի և էլեկտրաէներգիայի սակագները: Այս մասին ԱԺ հայտարարությունների ժամին հայտարարեց նշված հանձնաժողովի նախագահ, ԱԺ փոխնախագահ Միքայել Մելքումյանը:

Ընդ որում, նա շեշտեց, որ սա պոպուլիզմ չէ.

«Սա պոպուլիզմ չէ: Հանձնաժողովի նիստին ներկա ՀՀ էներգետիկայի նախարար և Հանրային ծառայությունները կարգավորող հանձնաժողովի նախագահը ևս փաստեցին, որ կան գործոններ, որոնց գործադրմամբ դա հնարավոր է»,- ասաց նա:

Մելքումյանը նաև տեղեկացրեց, որ հաջորդ շաբաթ հանձնաժողովը կհրավիրի ասուլիս, որի ժամանակ կներկայացվեն հստակ հաշվարկներ, որոնք թույլ կտան գների իջեցումը: Նա հույս հայտնեց, որ փետրվարից երկրում կգործեն այնպիսի սակագներ, որոնք արտացոլում են առկա իրողությունները:
 

Microbusinesses to be exempt from taxes, says Pashinyan
/Nov 13/168.am/

Microbusinesses will be exempt from taxes in Armenia. In case of having up to three employees in that business, there will be another, mild regime for income tax, acting Prime Minister Nikol Pashinyan said during the debate of the 2019 state budget draft in the Parliament on November 13.

“In the context of the budget, a key task for work promotion is to define a new concept of “microbusiness”. It will be exempt from all taxes. All those who will carry out their activity within 20-24 million AMD, will not pay a tax. Of course, there will be some restrictions linked with the fields.

There will also be a problem of zoning. With this policy we will try to promote the economic activity especially in the provinces”, Pashinyan said. “We open the opportunities so that you can earn your money for your family thanks to a dignified work”.

The acting PM also attached a great importance to the fact that in case of having up to three employees in the microbusiness, there will be a different regime for the income tax. They will not be taxed at a rate of 23% of the salary but can solve the problem of income tax with the fixed payment of 5000 AMD. According to Pashinyan, this will enable to have more beneficial conditions.
 

Վրաստանից Հայաստան ապրանքների ներմուծման գործընթացը կարագացվի
/Nov 14/Verelq.am/ 

Վրաստանում Հայաստանի դեսպանությունը հայտնում է, որ Վրաստանից Հայաստան ապրանքների ներմուծման գործընթացը կարագացվի:

«Տեղեկացնում ենք, որ Հայաստանի և Վրաստանի մաքսային ծառայությունները շուտով կներդնեն տվյալների էլեկտրոնային փոխանակման համակարգ, որը կարագացնի սահմանին բեռների ստուգման գործընթացը։

Վրացի մաքսավորները Հայաստանի սահմանին ապրանքի մասին տվյալներ հավաքելիս դրանք կգաղտնագրեն թվային կոդով և այն կփոխանցեն հայկական կողմին, որը թույլ կտա հայկական մաքսակետում ապրանքը նորից չզննել (կամ զննել միայն ծայրահեղ անհրաժեշտության դեպքում)»,- ասված է դեսպանության հաղորդագրության մեջ։
 

Estonia seeking to intensify trade with Armenia
/Nov 14/Baltic News Service – BNS/

TALLINN – Juri Seilenthal, director of the department for economic and development cooperation at the Estonian Foreign Ministry, said that Estonia is attempting to intensify trade with Armenia.

“The economic relations of Estonia and Armenia have been and are modest at present as well, but our wish is to change that tendency. In 2017, trade between the two countries soared to 4.6 million euros foremost due to the increase in Estonia’s export and, based on the figures for the first eight months of 2018, it will double this year. At the same time, there is still room for development,” Seilenthal said in a press release.

He said that Estonia is interested in developing the economic contacts of the two countries, intensifying trade between the states and facilitating investments in both directions.

According to Seilenthal, the agreement on the avoidance of double taxation that entered into force between Estonia and Armenia in 2003 creates a good premise for active trade and joint projects between companies. “We should inspire both sides to actively take advantage of the possibilities originating from the agreement,” he said.

Seilenthal met with an Armenian business delegation visiting Estonia in Tallinn on Wednesday. One of the topics discussed at the meeting was the promotion of tourism, which creates prerequisites for economic cooperation, trade and joint business projects. Seilenthal highlighted that Estonia sees perspective for cooperation in the ICT field and in developing the e-state.

In 2017, Armenia was the 81st trade partner for Estonia. According to the Bank of Estonia, Armenia’s direct investments into Estonia totaled 4.8 million euros as of June 2018. Investments have been made into retail and wholesale, the information and communications sector, financial and insurance activities, real estate, professional, research and technical activities and administrative and auxiliary activities.

As of May 2018, altogether 17 companies with Armenian shareholding were registered in the Commercial Register.
 

Pashinyan introduces government’s economic achievements and failures
/Nov 20/168.am/

Acting Prime Minister of Armenia Nikol Pashinyan considers the elimination of monopolies, fight against corruption and shadow among the greatest achievements of the government during the past six months.

“You are now witnessing quite active investment developments, I cannot say this in statistical terms, but it’s obvious that there is an interest. Our task is to turn these interests into results. I consider the elimination of monopolies as the greatest success in the economic sector, since they were the key obstacle for economic development since Armenia’s independence. I consider the fight against corruption as the second success which again undermined the economic development for dozens of years. The next one is the fight against the shadow, 37.000 jobs are already publicly operating jobs”, he said.

Nikol Pashinyan said the greatest failure in the economic sector is the policy over mining industry, which, however, he thinks that it derives from Armenia’s national interests. “It creates certain negative effect for the investment environment, but I am convinced that this investment effect will be definitely restored. Investigation is underway over several major economic entities and of course, our actions create some concerns in this regard. But we are working intensively to introduce our motives to our foreign partners in order to eliminate this investment feeling”, he said.

Pashinyan said there are problems with the activities of the South Caucasian Railways, North-South and other projects. “Leading companies are engaged in all these matters, but we are going to consistently protect our country’s interests”, Pashinyan said.


Government to lower revenue tax threshold to 20% in coming 5 years
/Nov 20/168.am/

Shadow salaries exist in Armenia, caretaker Prime Minister Nikol Pashinyan said today.

“The accounting says that an employee receives 80,000 drams, but the employee is actually getting 160,000 or 200,000 drams,” he said, elaborating on the issue. “Now, in this situation, there is no interest for the employer to show the real salary. We are now introducing flat taxing to encourage peple to register real salaries. There are countries that have used this practice, when revenue tax was reduced the picture of salaries changed,” he said.

He said that the revenue tax threshold will be reduced up to 20% in the coming five years.

He said that salaries have already been raised to a certain extent as a result of accumulative pension policy. He said that the government plans to leave 50 million drams in the pockets of the people as a result of tax policy.

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