Macroeconomy

 

Armenia did not enter any of categories of international rating of »The Smartest Countries of the World"
/Jan 14:Arminfo/Emmanuil Mkrtchyan /

Armenia did not enter any of the categories of the international rating of "The Smartest Countries of the World". The Vouchercloud portal compiles the rating.  ( https://www.  vouchercloud.com/resources/worlds-smartest-countries)

Researchers compile a list of 25 "smartest states." Their findings are based on three equivalent factors: the number of Nobel Prize winners (Nobel Prizes won't represent historic intelligence), the average IQ of the population (current average IQ to represent present intelligence) and school performance results (educational attainment). As the compilers of the rating explain, these data give an idea of the intellectual past, present and future of the country.

The first five lines went to Japan, Switzerland, China, USA and the Netherlands. The winner of the rating is high in all three indicators. Russia is located in sixth place. By the number of Nobel laureates, she entered the top eight, and by the level of school education – six. In the list of countries with a high level of IQ of the population, Russians took the 32nd place. It is interesting that in the educational sector from the CIS countries except Russia, Kazakhstan was included in the rating, which took the honorable 9th place.

China took the third place, mainly due to the high level of intelligence of the inhabitants (second place), while the USA was ranked fourth by the number of Nobel laureates (first place).   Vouchercloud pays special attention to the indicators of East Asian countries. For example, South Korea, Taiwan and Singapore are leading in the number of highly intelligent residents and educated youth, and they did not lead the overall rating just because of the low numbers in the number of Nobel laureates. For example, according to two criteria, Singapore ranks first, but only 73rd in terms of the number of laureates.


PM Pashinyan to participate in Davos economic forum
/Jan 16/ArmenPress.am/Share

YEREVAN – Prime Minister of Armenia Nikol Pashinyan will participate in World Economic Forum in Davos, ARMENPRESS was informed from the office of the Prime Minister.

“The PM is scheduled to participate in World Economic Forum in Switzerland’s Davos city on January 22-25”, a press service official said. 

The forum is entitled “Globalization 4.0: Shaping a New Architecture in the Age of the Fourth Industrial Revolution''.
 

Armenia’s economic growth in 2018 is estimated at about 5.2-5.3 percent
/Jan 17/ARKA/

YEREVAN – The Armenian government estimates that the economic activity in 2018 will be around 5.2%-5.3%, the acting Minister of Economic Development and Investments Tigran Khachatryan told reporters today after a Cabinet session. He said the processing industry has contributed notably to the growth.
He also said operating enterprises are expected to install new equipment, ‘and this will be the driving force to  ensure long-term sustainable growth  of enterprises and increase their competitiveness in the market, ”said Khachatryan.
He also said new investment projects are numerous, but it takes time to move from the discussion stage to implementation. “Every effort will be made to ensure that public and private investments reach at least 23-24% of GDP within five years,” said Khachatryan.
In 2017, the Armenian economy grew by 7.5%, the inflation was 1%. The government’s projection of GDP growth for 2018 is 4.5%. 
In a related development, the head of the State Revenue Committee David Ananayan said January 16 that the agency has collected a total of 1 trillion and 306 billion drams in revenue last year, including 335.3 billion drams of customs duties, up from 317.8 billion drams collected a year earlier. It also refunded 97 billion drams worth taxes, up from 50.9 billion drams in 2017.  ($1 – 486.58 drams).


EU, World Bank will invest €700 million in Armenia
/Jan 17/PanArmenian/

In a bid to boost connectivity and economic growth in the Eastern Partnership (EaP) countries, the European Commission and the World Bank have co-authored a Trans-European Transport Network (TEN-T) Investment Action Plan that identifies priority projects in Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.

Together, the projects will require an estimated investment of almost €13 billion and foresee a total of 4800 kilometres of road and rail, six ports, and 11 logistics centres.

According to RFE/RL Armenian Service, the majority of the projects set to be implemented in Armenia are connected with the North-South Road Corridor.

A document published by the EU on Wednesday, January 16 reveals that €450 will be spent on the construction of a road section connecting the Armenian towns of Artashat and Agarak (346km in total).

Furthermore, €15 million will be allotted to the modernization of Meghri border checkpoint in the country’s south.
 

GDP in 2019 to be within 5.2-5.3% range – acting minister
/Jan 17/ArmenPress.am/

YEREVAN – Armenia’s GDP in 2019 is expected to be within 5.2-5.3% range, acting minister of economic development and investments Tigran Khachatryan told reporters after today’s Cabinet session.

“Some differences take place, they are linked with the structural changes that have occurred in the economy during the year. Last year the reprocessing industry had a greater impact in terms of growth. That phenomenon will have its final impact on the GDP growth rate”, the acting minister said.
 

Import of electric cars to Armenia to be exempt from VAT
/Jan 17/ArmenPress.am/

YEREVAN – The Armenian government today approved the legislative initiative on making amendment in the Tax Code.

During today’s session deputy minister of nature protection Irina Ghaplanyan said according to the draft the import of electric cars will be exempt from the Value Added Tax (VAT).

“The draft law will create favorable conditions to promote the purchase and use of electric cars, reduce air pollution and energy dependency”, she said.

The government will submit the legislative initiative to the Parliament.
 

Armenia expects investments to reach 23-24% over GDP in next five years
/Jan 17/ArmenPress.am/

YEREVAN – Everything will be done so that investments reach 23-24% over GDP within the frames of the Armenian government’s action plan in the next five years, Acting minister of economic development and investments Tigran Khachatryan told reporters after today’s Cabinet session.

According to him, the existing economic subjects constantly upgrade their production, and this is the driving force that must ensure the long-term sustainable development and competitiveness in the market of that company. “Any economic unit, regardless of its field, constantly makes such investments. When we talk about the investments, we specifically attach importance to the implementation of new investment programs: they are numerous and relate to different sectors, both industry and energy. But we also need to know that any discussion, starting from discussion stage up to implementation, passes a path which is not something new. Any new initiative requires time in order to reach the implementation”, he said.

Asked whether there is any positive progress in regard to implementation of investments after the recent snap parliamentary elections, the acting minister said there is a great interest by investors. “Everything will be done so that investments reach 23-24% of the GDP in the next five years. Moreover, the largest part should be the private investments”, he said.
 

Armenian Government Reports Major Rise in Tax Revenue
/Jan 17/RFE/RL Armenian Report/Nane Sahakian/

Armenia’s State Revenue Committee (SRC) has reported a more than 14 percent increase in the amount of taxes and customs duties collected by it in 2018.

The SRC chief, Davit Ananian, said on Wednesday the total tax revenues worth 1.3 trillion drams ($2.7 billion) also exceeded the Armenian government’s 2018 target by 3.5 percent. He attributed the major increase to SRC efforts to improve tax collection and administration.

Prime Minister Nikol Pashinian’s government pledged to crack down on widespread tax evasion when it took office in May. Ananian promised at the time that its tax revenues “will be substantially higher than planned” this year.

According to Pashinian, over the next two months alone the SRC recovered more than 20 billion drams ($42 million) of unpaid taxes from 73 companies.

The 2019 state budget commits the government to increasing its budgetary

revenues by another 15 percent this year. This would enable the government to further cut the budget deficit while boosting public spending by around 12 percent.

Armenian tax revenue rose by more than 7 percent in 2017. The improvement was particularly visible in the national customs service long regarded as one of the country’s most corrupt government agencies.

Ananian, who served as a deputy finance minister before taking over the SRC, acknowledged in May that his predecessor, Vartan Harutiunian, tackled the informal sector of the Armenian economy “quite effectively.” But he said the fight against tax fraud will be tougher and “even more effective” during his tenure.


PM Pashinyan to participate in World Economic Forum in Davos
/Jan 18/ArmenPress.am/

YEREVAN – Prime Minister of Armenia Nikol Pashinyan will pay a working visit to Switzerland on January 20 to participate in Davos World Economic Forum.

As ARMENPRESS was informed from the official website of the Prime Minister of Armenia, in the sidelines of the forum the PM is scheduled to have a number of bilateral and multilateral meetings with heads of other states, international organizations and companies. Pashinyan will also attend the Informal Gathering of World Economic Leaders (IGWEL) and World Civil Society Forum in Davos.

Nikol Pashinyan is also scheduled to meet with the members of Switzerland-Armenia Commerce Chamber and Swiss businessmen in Zurich.
 

Armenia FDI grows 50%, says PM
/Jan 20/ArmenPress.am/

YEREVAN – According to the Balance of Payments (BoP) of Armenia, foreign direct investments (FDI) grew 50% in Q3 of 2018 against the same period of 2017, according to Prime Minister Nikol Pashinyan.

“In 2018’s third quarter FDI net inflows (Assumption of Liabilities) totaled 75,5 million dollars against 2017’s 50,9 million dollars,” he said on Facebook.

Pashinyan also presented the dynamics of the indicator per quarter:

2017, Q1 – $68 millions

2017, Q2 – $29,1 millions

2017, Q3 – $50,9 millions

2017 Q4 – $101,8 millions

2018, Q1 – $94,2 millions

2018, Q2 – $8,9 millions

2018, Q3 – $75,5 millions

By the way, this is the same indicator whose drop of the Q2 our oppositionists weeare constantly and eagerly speaking about,” Pashinyan wrote on Facebook.

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