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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    Russian- Armenian philanthropist plans to rehabilitate a settlement near Hadrut

    POLITICS 17:43 28/04/2016 NKR

    Artsakh Prime Minister received Russian Saint Petersburg resident,
    philanthropist Maxim Atayants of Karabakh origin, press department of
    the Artsakh Republic government reports.

    According to the statement, Atayants has arrived in Artsakh to discuss
    the implementation of the rehabilitation program of a settlement near
    Araqel community of Hadrut region.

    Prime Minister Arayik Harutyunyan welcomed the guest’s initiative to
    continue the program during these difficult days for Artsakh. Prime
    Minister then expressed confidence Mr. Atayant’s program would give a
    new life to the community and positively impact on its development.

    The philanthropist informed that two apartments have been built within
    the program with number of others to come. The new apartments are to
    be allocated to families with many children.

    Aside from the houses, infrastructure restoration works and a workshop
    are expected to create employment opportunities for the local
    resident.

    https://urldefense.proofpoint.com/v2...Cq5SnYHUqRE&e=
    Hayastan or Bust.

    Comment


    • Re: Armenia's Economic Pulse

      Originally posted by Haykakan View Post
      Armenia Continues to Gamble on Aging Nuclear Plant in a Quake-Prone Area
      04/27/2016 12:36 pm ET | Updated 19 hours ago
      That plant is about 50th in urgency on the list of things our country needs to address. Armenia's soviet apartment buildings that house hundreds of thousands in Yerevan alone were in theory designed for a 6.0 earthquake (on the US scale). They thought the seismic risk of the region was much lower before the Spitak earthquake. In reality, they were built for about a 5.0-5.5 considering the corruption and all.

      It would take something much larger than that to threaten that plant. So if it was a ever a question of that plant failing, tens if not hundreds of thousands will already be dead. I would love to worry about that plant if Armenia was Sweden. Unfortunately that's not the case, and we have much bigger issues
      Last edited by Mher; 04-28-2016, 08:36 PM.
      <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

      Comment


      • Re: Armenia's Economic Pulse

        World Bank Sticks To 2016 Growth Outlook For Armenia


        Tatevik Danielian
        Հրապարակված է՝ 28.04.2016

        The World Bank said on Thursday that it has not revised downwards its economic growth forecast for Armenia following this month’s flare-up of violence in the Nagorno-Karabakh conflict zone.

        Laura Bailey, the head of the bank’s office in Yerevan, said it continues to expect that the Armenian economy will grow by 2 percent this year.

        According to official statistics, the Armenian economy grew by around 3 percent last year despite a drop in domestic consumption resulting from falling remittances from Armenian migrant workers in Russia.

        Government data indicates that Gross Domestic Product increased more rapidly in the first quarter of this year on the back of strong performances of the manufacturing and non-trade services sectors. The National Statistical Service (NSS) also recorded a 26 percent surge in first-quarter Armenian exports.

        The reported faster growth came was followed by the April 2 outbreak of worst fighting between Armenian and Azerbaijani forces in Nagorno-Karabakh since 1994. Despite being largely stopped on April 5, the hostilities increased the risk of a full-blown Armenian-Azerbaijani war.

        Bailey said that long periods of armed conflict usually undermine economic activity by scaring away foreign investors from countries affected by it. “We are not seeing any of those kinds of impact [on Armenia] yet,” she told a news conference.

        http://www.azatutyun.am/content/article/27704810.html
        <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

        Comment


        • Re: Armenia's Economic Pulse

          I agree with your conclusions regarding the nuclear plant but a new plant would open up opportunities to export much more energy. Not sure about the cost effectiveness there but it could also substitute hydro power allowing us to conserve our water resources.
          As for the overall economy I would say it seems rather resilient given all turmoil that has occurred.
          Hayastan or Bust.

          Comment


          • Re: Armenia's Economic Pulse

            Originally posted by Mher View Post
            World Bank Sticks To 2016 Growth Outlook For Armenia


            Tatevik Danielian
            Հրապարակված է՝ 28.04.2016

            The World Bank said on Thursday that it has not revised downwards its economic growth forecast for Armenia following this month’s flare-up of violence in the Nagorno-Karabakh conflict zone.

            Laura Bailey, the head of the bank’s office in Yerevan, said it continues to expect that the Armenian economy will grow by 2 percent this year.

            According to official statistics, the Armenian economy grew by around 3 percent last year despite a drop in domestic consumption resulting from falling remittances from Armenian migrant workers in Russia.

            Government data indicates that Gross Domestic Product increased more rapidly in the first quarter of this year on the back of strong performances of the manufacturing and non-trade services sectors. The National Statistical Service (NSS) also recorded a 26 percent surge in first-quarter Armenian exports.

            The reported faster growth came was followed by the April 2 outbreak of worst fighting between Armenian and Azerbaijani forces in Nagorno-Karabakh since 1994. Despite being largely stopped on April 5, the hostilities increased the risk of a full-blown Armenian-Azerbaijani war.

            Bailey said that long periods of armed conflict usually undermine economic activity by scaring away foreign investors from countries affected by it. “We are not seeing any of those kinds of impact [on Armenia] yet,” she told a news conference.

            http://www.azatutyun.am/content/article/27704810.html
            A few years back Armenian scientists showed their potential to build solar cells in Armenia with domestic resources. A $5bln NPP deal is of no use for us. A $1bln sollar deal could pretty much revolutionize Armenia.

            Comment


            • Re: Armenia's Economic Pulse

              Originally posted by Mher View Post
              That plant is about 50th in urgency on the list of things our country needs to address. Armenia's soviet apartment buildings that house hundreds of thousands in Yerevan alone were in theory designed for a 6.0 earthquake (on the US scale). They thought the seismic risk of the region was much lower before the Spitak earthquake. In reality, they were built for about a 5.0-5.5 considering the corruption and all.

              It would take something much larger than that to threaten that plant. So if it was a ever a question of that plant failing, tens if not hundreds of thousands will already be dead. I would love to worry about that plant if Armenia was Sweden. Unfortunately that's not the case, and we have much bigger issues
              I had the opportunity to talk with (???) a person from UN nuclear (???) that goes to Armenia often in connection with inspection of NPP in Hayastan. This person had a clear Israeli accent and appeared well educated and spoke as such.
              Remembering his name or UN agency he represented was not important to me, but the info I got was.
              Conversation about Hayastan came to be after I informed him I was an Armenian diaspora.
              Bottom line ... Loves the food and injoys his time in Armenia. And his words to me about NPP were all positive insofar as saftey of plant. All his inspections showed plant to be safe to operate.
              HARK

              Comment


              • Re: Armenia's Economic Pulse

                Armenian Rail Operator Accused Of Fraud

                http://www.azatutyun.am/content/arti...medium=twitter

                Karine Simonian
                Հրապարակված է՝ 29.04.2016

                Anti-trust regulators accused on Friday a Russian-owned company running Armenia’s railway network of inflating capital investments which it claims to have made in line with a management contract signed with the Armenian government in 2007.
                Artak Shaboyan, the chairman of the State Commission on the Protection of Economic Competition (SCPEC), based the allegation on a six-month inquiry conducted by the SCPEC.

                The commission began investigating the network called the South Caucasus Railway (SCR) after rejecting as unjustified a fresh rise in its cargo shipment tariffs. According to Shaboyan, it found that the company owned by Russia’s state railway, RZD, has for years portrayed current expenditure on its day-to-day needs as investments.
                “Those expenditures cannot be deemed investments,” Shaboyan told RFE/RL’s Armenian service (Azatutyun.am). “That means the company has been inflating the amount of its investments.”

                The 2007 agreement committed RZD to investing $230 million in Armenia during the first five years of operations and another $240 million in the following years. RZD claims to have invested only $250 million so far. Its Armenian subsidiary cited 9 billion drams ($19 million) in unexpected losses when it raised tariffs late last year.

                Shaboyan claimed that those losses resulted, large measure, from mismanagement, inefficiency and possible fraud. In particular, he said, the SCR has rarely held tenders for the purchase of equipment and services used by it.

                “Even when the company holds tenders, very often they are mere formalities,” he said. “We have detected cases where companies offering higher prices won its tenders.”

                “We have already discussed this issue with our Russian [anti-trust] colleagues and they have expressed readiness to intervene in this matter,” added Shaboyan. “They have organized meetings with senior executives of RZD.”

                The SCR spokesman, Vartan Aloyan, dismissed the allegations, saying that RZD has never voiced discontent with the operations of its Armenian subsidiary. He also questioned the SCPEC’s decision to raise the matter with relevant authorities in Russia.

                “If there is a law that allows a foreign agency to inspect an Armenian company, let it do that,” Aloyan told RFE/RL’s Armenian service (Azatutyun.am). “We have nothing to hide.”

                Another example of a corrupt Russian state company controlling our assets.
                Last edited by Zeytun; 04-29-2016, 02:33 PM.

                Comment


                • Re: Armenia's Economic Pulse

                  Vanadzor Technology Center will very soon open its doors:

                  https://www.facebook.com/VanadzorTec...enter/?fref=ts
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                  #‎VTC‬ ‪#‎EIF‬ ‪#‎VTCfacilities‬
                  Վանաձորի տեխնոլոգիական կենտրոնը շատ շուտով կբացի իր դռները:
                  Վանաձորում տեխնոլոգիական կենտրոն կառուցելու նախաձեռնությունը Ձեռնարկությունների ինկուբատոր հիմնադրամինն է։
                  Vanadozr Technology Center will very soon open its doors.
                  Enterprise Incubator Foundation (EIF) is the initiator of constructing a Technology Center in Vanadzor.
                  Last edited by Zeytun; 04-30-2016, 02:33 AM.

                  Comment


                  • Re: Armenia's Economic Pulse

                    [QUOTE=HyeSocialist;372026]A few years back Armenian scientists showed their potential to build solar cells in Armenia with domestic resources. A $5bln NPP deal is of no use for us. A $1bln sollar deal could pretty much revolutionize Armenia.[/QUOTE

                    I am not against solar energy but even if you covered the whole country with solar panels you still would not generate the amount of power that one modern NPP can generate. The newer plants are safer, efficient , and more effective. This will allow us to preserve our water resources more and will produce more energy then we need thus we can become a energy exporter. I am in no way against developing solar energy industry but you have to be realistic about how much you can get out of solar vs nuclear vs coal vs gas vs...
                    Hayastan or Bust.

                    Comment


                    • Re: Armenia's Economic Pulse

                      [QUOTE=Haykakan;372111]
                      Originally posted by HyeSocialist View Post
                      A few years back Armenian scientists showed their potential to build solar cells in Armenia with domestic resources. A $5bln NPP deal is of no use for us. A $1bln sollar deal could pretty much revolutionize Armenia.[/QUOTE

                      I am not against solar energy but even if you covered the whole country with solar panels you still would not generate the amount of power that one modern NPP can generate. The newer plants are safer, efficient , and more effective. This will allow us to preserve our water resources more and will produce more energy then we need thus we can become a energy exporter. I am in no way against developing solar energy industry but you have to be realistic about how much you can get out of solar vs nuclear vs coal vs gas vs...
                      I agree, the price of the power plant is insanely high. I figured we could build solar, wind, and geothermal plants to get Armenia completely off of importing goods even uranium and technology. We could also manage how we spend energy more efficiently. This along with massive recycling plans. The whole idea is to get our landlocked country out of dependence of its neighbors as much as possible.

                      Comment

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