Yerevan, 24.April.2018,
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Economy

No united currency in EEU yet – Vazgen Safaryan
It is yet too early to speak about transition to common currency in the Eurasian Economic Union, chairman of the Union of Local Producers Vazgen Safaryan told Nyut.am, adding that this issue is not being discussed as of now. “We may speak about it in future when our economies become identical. Today Armenian and Russian economies have different economic opportunities. For transaction to one currency our economies should correspond to general standards,” he said. As to oil products ...
In 2016 Armenia to spend 99.3 billion drams to cover external debts - economist
On October 1 the government approved the 2016 draft budget which is to be discussed by the NA MPs. The draft budget clearly reflects the economic situation in the country – the budget entries unlike the previous budget will be cut and the possibility of raise of foreign debt will increase. Speaking to Nyut.am, economist Vilen Khachatryan said that the amount of our debt exceeds the index of economic growth. “If to compare the index of the economic growth with the debts Armenia would...
Transition to electronic report system to cut shadow – Khosrov Harutyunyan
During the past years serious work is being carried out in Armenia addressed toward reduction of shadow economy. The fact that Ministry of Finance, fiscal bodies passed to the system of electronic reports means reduction of shadow, member of NA Standing Commission on Financial-Credit Budget Issues KHohosrov Harutyunyan told Nyut.am.   In his words, the Ministry of Finance having refused total checking adopted another position – it conducts checking agreed with risk degree of concret...
Tax legislation changes positive – PAP MP
Nyut.am conducted interview with Prosperous Armenia Party MP Michael Melkumyan over the changes in the tax legislation of Armenia.  - Mr Melkumyan for promotion of small and medium-sized entrepreneurship changes have been made in the tax legislation of the country. What is the outcome? - The entrepreneurs cannot assess the situation only by tax changes. If it is not a good one, it is not the matter of taxes only but in affordability of the market. In my opinion the liberalization of the t...
Laws must be applied not only adopted – Tevan Poghosyan
This year the Armenian legislation has underwent changes which was viewed as a progress and which is to be favorable for our economy, small and medium-sized business, for eliminating shadow in big size business, moving it to tax field. Nyut.am conducted interview with Heritage party MP Tevan Poghosyan over it. Asked whether the recent legislative changes are really positive, or can we expect improvement of small and medium-sized business, Armenia’s economic situation, Tevan Poghosyan said...
Tax legislation gradually improves - economist
The legislation of our country regarding the development of entrepreneurship is not bad but it is necessary to take into consideration one important circumstance – the small and medium-sized business must be viewed separately as here some impediments come forth regarding the application of a number of laws, economist Tatul Manaseryan told Nyut.am. He said it particularly refers to starting the entrepreneurship, problems that come forth during it. In his words the reduction of taxes from 3....
Foreign debt should not be accepted sharply
On October 1 the Armenian government approved the 2016 budget draft which is yet to be discussed at the National Assembly. The draft budget clearly reflects the economic situation of the country: the state budget entries as compared with the previous budget will not grow but the opposite will go down and the possibility of growth of state foreign debt grows too. - Mr Bostanjyan the 2016 state budget has reduced as compared with the 2015 while the authorities claim that economic growth will be r...
Armenia to close the year with 3% economic growth
According to the forecasts presented in the Eurasian Economic Commission website Armenia will wrap up the year with 0.9% economic growth while the government still speaks about 4.2% economic growth. The EEU presented unfavorable results not only for Armenia but other member states as well. Speaking to Nyut.am economist Vardan Bostanjyan said that the forecast of EEU is more realistic. Speaking to Nyut.am economist Hayk Sargsyan said that such forecast is made for Armenia as the EEU member state...
4.5% economic growth not to be registered this year - economist
According to the forecasts presented in the Eurasian Economic Commission website Armenia will wrap up the year with 0.9% economic growth while the government still speaks about 4.2% economic growth. The EEU presented unfavorable results not only for Armenia but other member states as well. Speaking to Nyut.am economist Vardan Bostanjyan said that the forecast of EEU is more realistic. “Of course this year we have registered a noticeable progress regarding the agriculture and it made our g...
Refusal of USD usage to stabilize the local currencies - economist
Still in 2012 the CIS countries, including Armenia signed an agreement refusing to use dollars. Recently, Russia’s president Vladimir Putin submitted bill to the Russian State Duma for ratification. The bill offers to refuse from usage of USD in the territory of the CIS which means creation of united financial market among Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan. A mechanism is proposed to allow not to use  USD and euro as a “module currency.” Speaking to Nyu...
Mikhail Baghdasarov returns to big business with German Sterligov
In an exclusive interview with Nyut.am Russian businessman German Sterligov said that they will start business with Armenian businessman Mikhail Baghdasarov. "Me and Misha, both of us former millionaires will start business from zero. The firts thing will be production of ecologically clean bread. The first steps have already been undertaken," Sterligov said.  
Greece MPs debate ahead of key bailout vote
Greek members of parliament are debating through the night ahead of a vote on a new bailout agreement.The proposed deal involves tax rises and spending cuts in return for a third international bailout of about €85bn (£61bn).Prime Minister Alexis Tsipras has said he is confident he will win the vote, but some senior members of his Syriza party are defying the government.The debate itself was preceded by hours of often angry exchanges in parliament.Mr Tsipras needs MPs to vote for a Mem...
China's yuan currency falls for a second day
China's Central Bank has again cut the guiding rate for the national currency, the yuan, a day after Tuesday's record 1.9% devaluation.The move sent fresh shockwaves through Asian markets, but the bank has sought to calm fears, saying it was not the start of a sustained depreciation.The yuan fell another 1% on Wednesday, marking the biggest two-day lowering of its rate against the dollar in more than two decades.The new rate is meant to boost exports.Figures released at the weekend showed Chines...
Greek crisis to affect tourist flow from Armenia
Speaking about Greek crisis it should be started from 2004 when Olympic Games were held in Athens, economist Vilen Khachatryan told Nyut.am. In his words, that time Greece gathered much debts to conduct the Olympiad but later its expectations were not justified and it failed to cover the expenses. “After four years in 2008 global economic crisis hit the world and not being able to cope with the previous debts Greece took the other. That time the Greek economy started gathering debts and as a ...
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