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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    ^ Great news!

    Comment


    • Re: Armenia's Economic Pulse

      Originally posted by Haykakan View Post
      This is why I have been for Armenia joining the EEU.
      Registering to run a marathon does not make us marathon runners.

      We should have had either a record upon which to build up to the standard required or at least make a great effort to prepare for the challenge.

      Currently the only challenge that the decision makers are preoccupied with is staying in power.
      Economic performance is poor to deteriorating.

      We have been limping along by selling our national assets, borrowing heavily and through bribery and corruption a section of the population content.

      If we think by joining any group is the answer to a free lunch a great shock is waiting round the corner.
      .
      Politics is not about the pursuit of morality nor what's right or wrong
      Its about self interest at personal and national level often at odds with the above.
      Great politicians pursue the National interest and small politicians personal interests

      Comment


      • Re: Armenia's Economic Pulse




        Greece and Armenia are going through economic problems.

        The reasons are not identical but there are parallels, both symptoms and solutions.

        A very inspiring presentation which could equally apply to Armenia in many aspects.
        Politics is not about the pursuit of morality nor what's right or wrong
        Its about self interest at personal and national level often at odds with the above.
        Great politicians pursue the National interest and small politicians personal interests

        Comment


        • Re: Armenia's Economic Pulse

          ARMENIA TO BECOME PART OF ENERGY CHAIN WITH GEORGIA AND IRAN

          11:01, 2 March, 2015

          YEREVAN, MARCH 2, ARMENPRESS: Armenia is going to build new electric
          lines in its northern and southern borders to connect to the energy
          systems of Georgia and Iran and in case of necessity the Republic
          will be able to supply energy to these countries. With the electric
          line with Georgia Armenia will connect also to the Russia's system,
          becoming a part of the energy chain. Armenpress was informed about
          it by the Director of the High Voltage Electric Networks CJSC Aram
          Ananyan, stating that the building of the electric lines and stations
          is intended in the coming years.

          "There is an agreement for the substation Shinuhayr, located in Syunik
          Region on the border with Iran, and by the end of this year we will
          choose a contractor company. The end of the program is intended for
          the year of 2017. Shinuhayr substation provides for the entire region
          and we supply energy from here to Meghri and from there - to Iran.

          With the same line we can get energy also from Iran. Today we supply
          Iran with energy of 100-120 megawatts at nights and get about 15
          megawatts during the days", - said Ananyan.
          Hayastan or Bust.

          Comment


          • Re: Armenia's Economic Pulse



            Oil and gas exploration in Armenia
            Politics is not about the pursuit of morality nor what's right or wrong
            Its about self interest at personal and national level often at odds with the above.
            Great politicians pursue the National interest and small politicians personal interests

            Comment


            • Re: Armenia's Economic Pulse

              Haykakan Zhamanak: Armenia’s international reserves decline 40% in past year

              ‘Haykakan Zhamanak’ daily writes that Armenia’s international reserves amounted to $1 billion 351 million as of January 2015. “International reserves of Armenia fell to a 6-year low, which is evident from official statistics of Central Bank of Armenia. International reserves of our country fell below that level - $1 billion 258 million only during the crisis in 2009. Armenia’s international reserves have declined by $900 million or 40% as compared to January 2014,” the paper says.

              http://www.aysor.am/en/news/2015/03/...hamanak/913356

              For 3 Weeks Now the AMD/USD Exchange rate has been at 478.5AMD/USD due to the activities of the central bank
              Last edited by Mher; 03-20-2015, 08:16 PM.
              <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

              Comment


              • Re: Armenia's Economic Pulse

                Energy Monitor Worldwide
                March 14, 2015 Saturday

                Thirty-megawatt PV power plant to be built in Armenia by 2016


                A photovoltaic (PV) power plant with an installed capacity of minimum
                30 megawatt will be constructed in Armenia by 2016, deputy minister of
                energy Hayk Harutiunyan told reporters on Thursday.


                The deputy minister said they hope to manage to build a plant event
                with higher capacity.

                Metsamor Nuclear Power Plant accounts for about 30% of the energy
                generation in the country. Some 41.9% of the energy is received at
                heat power plant, and hydro power plant account for 29.2% of the
                entire power production.

                Small hydro power plants are the most promising direction in the
                countryEUR(tm)s energy sector. There are also windmills in Armenia, and
                efforts are made to take the advantage of geothermal energy. Windmills
                account for 0.03% of the power generation. 2015 Global Data Point.
                Hayastan or Bust.

                Comment


                • Re: Armenia's Economic Pulse

                  TIME HAS COME TO START THINKING ABOUT FORMING CURRENCY UNION, PUTIN SAYS

                  YEREVAN, March 20. / ARKA /. Russian president Vladimir Putin
                  proposed on Friday creating a regional currency union with Belarus
                  and Kazakhstan, Russia's political and economic partners.

                  Putin made his proposal at a meeting with the Belarusian and Kazakh
                  presidents in Kazakhstan.

                  "The time has come to start thinking about forming a currency union,"
                  Putin said after the talks in the Kazakh capital Astana with Belarusian
                  President Alexander Lukashenko and Kazakh President Nursultan
                  Nazarbayev. He gave no details of the proposal but suggested it would
                  be easier to meet economic challenges by working closely together.

                  Belarus and oil producers Kazakhstan and Russia are joined by Armenia
                  in the Eurasian Economic Union. A fifth former Soviet republic,
                  Kyrgyzstan, is due to accede to the bloc this year.-0-

                  http://arka.am/en/news/economy/time_....ln9nYbYd.dpuf
                  Hayastan or Bust.

                  Comment


                  • Re: Armenia's Economic Pulse

                    Originally posted by Haykakan View Post
                    Energy Monitor Worldwide
                    March 14, 2015 Saturday

                    Thirty-megawatt PV power plant to be built in Armenia by 2016


                    A photovoltaic (PV) power plant with an installed capacity of minimum
                    30 megawatt will be constructed in Armenia by 2016, deputy minister of
                    energy Hayk Harutiunyan told reporters on Thursday.


                    The deputy minister said they hope to manage to build a plant event
                    with higher capacity.

                    Metsamor Nuclear Power Plant accounts for about 30% of the energy
                    generation in the country. Some 41.9% of the energy is received at
                    heat power plant, and hydro power plant account for 29.2% of the
                    entire power production.

                    Small hydro power plants are the most promising direction in the
                    countryEUR(tm)s energy sector. There are also windmills in Armenia, and
                    efforts are made to take the advantage of geothermal energy. Windmills
                    account for 0.03% of the power generation. 2015 Global Data Point.
                    Wonderful news. A country as technologically advanced as Armenia and with such dire geopolitical restrictions should become a world leader in renewable energy purely out of need of survival- in the same manner as we've seen in the IT sector.

                    Also
                    Originally posted by Haykakan View Post
                    Metsamor Nuclear Power Plant accounts for about 30% of the energy
                    generation in the country. .
                    I believe this is a false statement that's often repeated. This might have been the case early in independence, but today Armenia's energy needs stands at roughly 3000 MW. Metsamor produces 376MW, or roughly 12.5 percent of that.
                    <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

                    Comment


                    • Re: Armenia's Economic Pulse

                      Armenia Sells More Eurobonds

                      Hovannes Shoghikian
                      Հրապարակված է՝ 20.03.2015

                      In its most expensive ever borrowing operation reflecting the fallout from an economic crisis in Russia, the Armenian government has issued its second Eurobond worth $500 million at a yield of 7.5 percent.

                      The 10-year dollar bonds were sold in international financial markets through Deutsche Bank, HSBC and JP Morgan late on Thursday.

                      Neither Prime Minister Hovik Abrahamian’s office nor the Armenian Finance Ministry issued any statements on the development on Friday. The ministry promised to comment on Monday.

                      Abrahamian’s cabinet approved and announced the upcoming Eurobond issue on January 30. It cited the need to finance Armenia’s budget deficit and “neutralize” the Russian recession’s spillover effects on the Armenian economy. Deputy Prime Minister Vache Gabrielian said it is now “extremely important to ensure inflows of hard currency” into the country.

                      The Armenian budget for this year projects a deficit of roughly $250 million. “It’s not clear what the rest of the [proceeds from the latest Eurobond sale] will be spent on,” Ara Galoyan, an independent economic analyst, told RFE/RL’s Armenian service (Azatutyun.am).

                      Other analysts have suggested that the money could also be used for shoring up the national currency, the dram, and offsetting a possible shortfall in tax revenue resulting from slowing economic growth in Armenia.

                      In its 2015 budget, the government forecast a growth rate of just over 4 percent. The International Monetary Fund and the World Bank consider this projection overly optimistic given Armenia’s economic dependence on Russia.

                      “The Wall Street Journal” reported last week that the authorities in Yerevan will use the Eurobond proceeds to buy back up to $200 million of their previous dollar bond issue carried out in September 2013. The authorities raised $700 million at a yield of 6.25 percent at the time.

                      The higher cost of the latest borrowing reflects recent downward revisions by the Moody’s and Fitch agencies of Armenia’s credit ratings. Both agencies singled out a sharp drop in the dollar value of remittances from Armenians working in Russia. Those cash inflows account for more than 10 percent of Armenia’s Gross Domestic Product.

                      Moody’s said on January 15 that the economic situation in Russia is also the reason why it changed Armenia’s economic outlook to “negative” from “stable.” It cited “the risk that the impact of Russia's economic downturn on Armenia's economy will be more significant than currently expected.”

                      “Armenia is highly exposed to the severe economic downturn in Russia, which will weigh heavily on Armenia's balance of payment and growth prospects,” Fitch said for its part on January 30. Even so, it said the outlook for the South Caucasus country remains “stable” for now.

                      http://www.azatutyun.am/content/article/26911807.html


                      More fall out from the Russian Crisis
                      Not Good.... Undoing the work from 2011-13 in reducing debt
                      <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

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