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Macroeconomics

publié le mercredi 23 décembre 2009

REVENUES AND EXPENDITURES OF 2010 RA STATE BUDGET MAKE 742.1 BILLION AND 935.5 BILLION DRAMS RESPECTIVELY
/DEC 11/NOYAN TAPAN/
The RA National Assembly on December 10 passed the draft law on the 2010 state budget of Armenia with 82 votes in favor, 16 votes against, and one abstention The revenues of the 2010 state budget of Armenia make 742.1 billion drams, expenditures - 935.5 billion drams, and the deficit makes 193.4 billion drams.

World Bank seeks to enlarge list of participants in its SME crediting program
/DEC 13/ArmInfo/
The WB has already asked the Central Bank to involve new banks in the program. CB gives preference to commercial banks, however, it has asked some micro-financial companies to decide if they want to take part in the program or not.
To remind, the WB’s $50mln SME crediting program involves 8 commercial banks : Converse Bank, HSBC Bank Armenia, Armeconombank, Ardshininvestbank, ProCreditBank, Bank ACBA-Credit Agricole, ARARATBANK, Bank VTB Armenia. IBRD (part of WB Group) and the Central Bank of Armenia signed relevant credit agreement Feb 26 2009.

DEBT WILL REACH 50 PERCENT /DEC 17/Lragir.am/
Armenia’s external debt will arrive to GDP 50 percent in 2011. This prediction was issued by the head of the Yerevan office of the World Bank Aristomane Varudakis. Varudakis stated that the tax administration is to be bettered in Armenia. More taxes are to be collected because starting from 2012, the greater part of them will be directed to the paying off the external debt.

ARMENIAN ECONOMIC COMPETITION PROTECTION COMMISSION TO TIGHTEN PRICE CONTROL
/DEC 18/news.am/
At its December 17 sitting the RA Commission for Protection of Economic Competition decided to tighten control over prices for and sales of a number of consumer products.
  The Commission-conducted monitoring show an upward trend in the market prices for petrol, diesel fuel, medicines, vegetable oil, butter and sugar.
  The Commission is taking measures to prevent economic entities from breaking the law by practicing unjustified price rise and has demanded that economic entities to properly justify each case of price rise.
  Specifically, in the petrol market this principle will apply to the Flash Ltd., City Petrol Group Ltd., Mika Corporation, Kagh Petrol Service ;
  in the drug market, these are Natali Pharm, Alphapharm, Argopharm, as well as 22 other companies ; in the vegetable oil market, Alex-Grig, Dost International, and others ;
  in the sugar market, Alex Grig ; in the egg market Lusakert Ltd., Arax Ltd., Arzni Pedigree Ltd.

SCPEC identifies major violations in medications market of Armenia
/DEC 19/PanARMENIAN.Net/
Fact of an anticompetitive agreement in the market of medicines will be discussed at the next meeting of State Commission for the Protection of Economic Competition of Armenia, press service of SCPEC reported.
Within September-November of 2009 numerous publications in Armenian media, complaints addressed to the commission, results of monitoring implemented by the Commission have revealed unjustified raised prices for certain medicines. According to preliminary estimates of SCPEC, the price growth was a result of anti-competitive agreements, in particular, in the market of cardiovascular, diabetes and f antiviral drugs.