Macroeconomy

 

Armenia invested $9.7 million in Georgia’s economy in 2018
/Mar 12/PanArmenian/

Armenia’s foreign direct investment in the Georgian economy amounted to $9.7 million in 2018, data provided by the National Statistical Office of Georgia reveals.

Direct investments thus grew 51.5% year-on-year as Armenia had invested $6.4 million in the neighboring country in 2017.

In the past 10 years, investments in the Georgian economy from Armenia amounted to some $93 million.


Georgian, Armenian Presidents Discuss Enhancing Cooperation
/Mar 13/Civil Georgia/

Georgian President Salome Zurabishvili is on an official visit to Armenia on March 13-14. Today, she met her Armenian counterpart, Armen Sarkissian, in Yerevan, and discussed deepening bilateral ties.

At a press conference following the meeting, President Zurabishvili said, Georgia and Armenia are not only neighbors, but “friendly countries” as well.

“We live in the region for which stability and peace are decisive… stability and peace are the necessary preconditions to develop our countries’ economies, and to further deepen our economic cooperation,” President Zurabishvili said in her remarks.

Zurabishvili then spoke of the challenges that the region is facing nowadays. She said, there is no alternative to “peaceful way” of resolving conflicts that “deter and slow down our headway and development.”

According to Zurabishvili, the two presidents touched upon the border dispute as well, saying “it is time” to end the process of delimiting the border.

In Yerevan, President Zurabishvili met also Prime Minister Nikol Pashinyan. As part of her visit, she will also meet with Parliament Speaker Ararat Mirzoyan.
 

PM Pashinyan, representatives of “Index Ventures” discuss opportunities to operate in Armenia
/Mar 14/ArmenPress.am/

YEREVAN – Prime Minister of Armenia Nikol Pashinyan received the representatives of Index Ventures venture capital fund – founder Nina Achadjian, Mike Volpi and Dominique Vidal, who used to work for Cisco, Amazon, Yahoo and other famous companies before. Minister of Transport, Communications and IT of Armenia Hakob Arshakyan was present at the meeting.

As ARMENPRESS was informed from the Office of the Prime Minister of Armenia, the guests presented to the PM the activities of Index Ventures and their plans to make investments in Armenian start-ups. They noted that they highly assess the positive developments in Armenia’s IT sector and are interested in the development and expansion of cooperation. In addition to the implementation of various technological and engineering projects, the team of Index Ventures plans to present to Armenian start-ups the options to get investments at Silicon Valley and the tendencies of the technological sphere.

Nikol Pashinyan welcomed the visit of the delegation led by Nina Achadjian to Armenia and their initiatives to cooperate with local companies and make investments. Pashinyan underlined that the IT sector is among the priorities of the Armenian Government and the Government strives for achieving a technology-based economy in the future. PM Pashinyan added that the Government is interested in the cooperation with Index Ventures and to discuss the proposals of implementing investment projects. The PM noted that the Government also makes consistent steps aimed at the continuous improvement of business environment.
 

WB ready to assist implementation of ambitious program of Armenian Government
/Mar 14/ArmenPress.am/

YEREVAN – Deputy Prime Minister of Armenia Tigran Avinyan received on March 14 the delegation led by Vice President for Europe and Central Asia Cyril Muller.

As ARMENPRESS was informed from the Office of the Deputy PM of Armenia, Tigran Avinyan noted that the visit gives a good opportunity to discuss the ongoing projects carried out in the sidelines of the partnership with the WB and the opportunities of deepening the cooperation.

Cyril Muller noted that currently there is a great global interest towards Armenia and the reform process in the country and the WB is ready to assist the Government of Armenia for the implementation of the ambitious agenda.

The interlocutors discussed issues of improving the business environment in the country. Tigran Avinyan said that it’s a priority for the Government of Armenia and practical steps are taken to improve Armenia’s position in WB’s “Doing Business” report.


Zhamanak newspaper: Armenia government to do away with Pan-Armenian Bank Zhamanak newspaper: Armenia government to do away with Pan-Armenian Bank
/Mar 15/News.am/

Armenia’s government intends to annul the law on the Pan-Armenian Bank adopted after the message that President Serzh Sargsyan conveyed back in December 2008.

"The bank was lawfully established, but in reality, it never really became an active institution, and now the new government is doing away with that formal institution,” wrote Zhamanak newspaper.
 

Deputy PM says the proposed Tax Code was expected by business
/Mar 18/ArmenPress.am/

YEREVAN – Quite long discussions were held in the government over some details proposed by the draft Tax Code amendments, deputy prime minister Tigran Avinyan said, expressing confidence that these discussions will also continue in the Parliament, but they will come to consensus-based decisions, reports Armenpress.

“The package of changes of the Tax Code is quite broad. The package touches upon many issues. Therefore, the talks and discussions over it are continuous. It is already being moved to the Parliament field, and I think, the discussions will continue there”, the deputy PM told reporters.

Commenting on the view that some of economist-lawmakers of the My Step faction see certain gaps and shortcomings in the draft, Avinyan said the package is quite big. It contains many details which have passed through long discussions in the government. “And I don’t rule out that these discussions will continue also in the Parliament, but I am confident that we will come to consensus-based decisions”, he added.

Asked whether this is a revolutionary Tax Code, the deputy PM noted: “This is a Tax Code, which, I think, was expected by the business. I am convinced that it will have a positive impact on the economy”.


More than 65,000 vehicles imported to Armenia in 2018
/Mar 19/ARKA/

YEREVAN – Some 65,100 vehicles were imported to Armenia in 2018, by 72.6% more than in the previous year, according to the State Revenue Committee.
The customs value of all imported vehicles in 2018 was $234.8 million, up from $134.3 million in 2017. About 95.6% or 62,280 cars were imported to Armenia from Germany. The figure for 2017 was 33,300. In 2018, some 7,599 cars were imported from the Eurasian Economic Union against 7,504 cars in 2017. However, these cars were not included in the total number of imported cars last year.
According to the State Revenue Committee, in 2018 some 531 cars were exported from Armenia whose customs value was estimated at $19.2 million. In 2017 some 323 cars were exported worth $12.4 million. Some 38.6% or 205 cars were exported to China, and 20.1% or 107 cars to Russia.


Կառավարությունը քննարկում է 89 ներդրումային ծրագիր՝ 2.7 մլրդ դոլարի ծավալով. Փաշինյան
/Mar 19/Verelq.am/

ՀՀ կառավարությունն այս պահին քննարկում է 89 ներդրումային ծրագիր՝ 2.7 միլիարդ դոլարի ծավալով: Այս մասին ասուլիսի ժամանակ հայտարարեց ՀՀ վարչապետ Նիկոլ Փաշինյանը:

Նրա խոսքով, ադ ծրագերից 42 –ը՝ 774 միլիոն ծավալով, գտնվում են իրականացման տարբեր փուլերում, իսկ մյուսները քննարկվում են: 

Փաշինյանը նաև հայտնեց, որ սույն թվականի փետրվարին 2018-ի նույն ժամանակահատվածի համեմատ Հայաստանում հիպոթեքային վարկավորման ծավալը աճել է 100 տոկոսով, ինչը Փաշինյանը կապում է իր կառավարության կողմից իրականացվող ծրագրերի հետ.

«Այդ ծրագրերի շրջանակներում աճը կազմել է 145 տոկոս, ու այսօրվա դրությամբ, երկրում վարկավորման ծավալը աճել է 30 տոկոսվ: Մասնագետների գնահատմամբ սա ահռելի աճ է», – ասաց նա:

Փաշինյանը կանխատեսեց, որ առաջիկայում աճ կարձանագրվի շինարարության ոլորտում, ինչն իր հերթին կբերի նոր աշխատատեղերի ստեղծման.

«Սա շատ կարևոր ցուցանիշ է, որը բերելու է գործազրկության կրճատմանը, նոր աշխատատեղերի բացմանը», – հավելեց ՀՀ վարչապետը:
 

Հայաստանն արտաքին պարտքը սպասարկելու հետ կապված ռիսկեր չունի. վարչապետ
/Mar 19/Verelq.am/

Հայաստանն արտաքին պարտքը սպասարկելու հետ կապված ռիսկեր չունի: Այս մասին լրագրողների հետ հանդիպմանն ասաց ՀՀ վարչապետ Նիկոլ Փաշինյանը:

Նշենք, որ ՀՀ արտաքին պարտքը գրեթե հասել է 7 մլրդ դոլարի շեմին:
 

World Happiness Report ranks Armenia 116th happiest nation out of 156
/Mar 20/ARKA/

YEREVAN – The World Happiness Report, produced by the U.N Sustainable Development Solutions Network, ranked Armenia 116th happiest nation in the world. In the previous report Armenia was ranked 129th.
The report ranks 156 countries by how happy their citizens see themselves to be. It is based on such factors as economic wealth, life expectancy, social support corruption and freedom to make life choices.
Each of these indicators is estimated on a ten-point scale to derive the average score for the country.
With the  total score of 4.321, Armenia is behind  not only Russia, which is 68th, but  also Turkey (79th), Azerbaijan (90th), Iran (106th). Georgia was 119th.
With a score of 7.769 out of ten Finland topped the list of the happiest nations, beating second-placed Denmark which scored 7.6. Norway was third with 7.554, Iceland fourth, scoring 7.494, and Netherlands was fifth with 7.488. 
The bottom-placed nations were South Sudan, with a score of just 2.853. The bottom ten also included Central African Republic, Afghanistan, Tanzania, Rwanda, Yemen, Malawi, Syria, Botswana, Haiti and Zimbabwe.


Government’s decision will force closure of 80% of money exchange offices in Armenia
/Mar 20/ARKA/

YEREVAN – The Armenian government’s decision to raise the amount of duty, paid by money exchange offices, would force 80% of them to shut down, the chairman of the Union of Currency Dealers Aramais Khachatryan said today during a parliamentary discussion on the government initiative to raise the  duty on pawnshops and exchange offices.
According to the proposed changes, the duty on running a  pawnshop is to increase from the current  100 thousand drams (about $204) to 6 million drams (about $12 thousand), and for money exchange offices -from the current 50,000 drams ($102)  to 3 million drams (about $6.1 thousand ).
Aramais Khachatryan  said if the duty is raised even by 60%, the money exchange offices will not be able to compete with banks, because the amount of duty on a bank branch that carries out more than 15 transactions and earns a profit from each, is 350 thousand drams, while the proposed amount of duty on a money exchange office is 3 million .drams. 
He also added that over the past few years, the profitability of the money exchange offices has decreased by more than 2.5 times after the introduction of stricter requirements by the Central Bank. More precisely, money exchange offices are allowed to conduct transactions without requiring a passport from a citizen for amounts up to 100 thousand drams, while for banks this threshold is set at 400 thousand drams.
Khachatryan said  after a protest in front of the government building on Thursday, Nairi Sargsyan, an Assistant to the Prime Minister,  spoke to them and promised to convey their concerns to the Central Bank, but later Sargsyan told them that the Central Bank remained unconvinced and no changes would be made to the government’s decision.

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