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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    Economic growth in Armenia in 2016 to be higher than projected in government budget

    Economic growth in Armenia in 2016 to be higher than projected in government budget
    YEREVAN, May 19. /ARKA/. Economic growth in Armenia in 2016 will be higher than projected in the government budget – it will stand at 3.2%, Vache Gabrielyan, Armenian international economic integration and reforms minister, said Wednesday at a Q&A session in the National Assembly.

    In his words, more favorable developments than expected are already seen.

    «Taking into account developments in the economy, particularly increase in exports, we think economic growth in Armenia may be higher than the 2.2% projected in the government budget,» he said.
    «If we compare indicators of the first quarter and April, we'll see that the export-import ratio has never been so narrow in Armenia, and this shows that the buildup of exports has produced results.”

    Economic growth is expected also in 2017, he said, but it is still difficult to point out particular figures.

    http://arka.am/en/news/economy/econo...rnment_budget/

    Comment


    • Re: Armenia's Economic Pulse

      Originally posted by armnuke View Post
      Russia to release $1.2 million grant to Armenia
      Haykakan would be proud.

      Comment


      • Re: Armenia's Economic Pulse

        ^^^LOL Any penny from any country is highly appreciated.

        Comment


        • Re: Armenia's Economic Pulse

          Armenian PM: Government has done its best to facilitate life of business

          YEREVAN. - The Armenian Government has done its best to facilitate the life of business, Armenian PM Hovik Abrahamyan told journalists Saturday.

          In his words, everything is done to provide equal conditions for everyone in the customs area. “We will do our best to provide equal conditions in the customs and tax areas. Now I have instructed the Minister of Economy to make a leaflet, which will help the businessmen understand which documents can be demanded from them so that the officials don’t demand additional documents. The Government has adopted a decision through which we have facilitated the life of business, reducing the additional documents and additional time,”he said.

          According to Abrahamyan, there is no monopoly in Armenia in terms of law: there is one which has been formed during the economic activity.

          “The companies get more powerful and consequently sugar is imported by one company, or other company begins to import a certain product. We have an anti-monopoly committee, which fulfills its function. The latter should pursue this issue and tools should be applied against the business entity, which violates its authorities, through penalties, etc. All the mechanisms are in place, but we must simply pursue their implementation. There are no close markets [in Armenia]: there are products which are imported by one company. Now we propose conditions to enable different companies to import [the same product],”he noted.

          http://news.am/eng/news/328425.html

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          • Re: Armenia's Economic Pulse

            Monopolies in Armenia are legal, deputy head of state revenue committee says

            http://arka.am/en/news/business/mono...ommittee_says/

            ---

            This type of antipathy is descrutive. "Oh yes every one knows we are corrupt but as long as they pay taxes everything is ok right?" Bull sh*t!

            Comment


            • Re: Armenia's Economic Pulse

              Originally posted by HyeSocialist View Post
              Monopolies in Armenia are legal, deputy head of state revenue committee says
              Okeyyy! And how one goes on having a monopoly you fking ape?

              This cuunt should be fired just for stating his retardation.

              Comment


              • Re: Armenia's Economic Pulse

                Originally posted by HyeSocialist View Post
                but as long as they pay taxes everything is ok right?
                you think they pay their fair share of taxes??

                Comment


                • Re: Armenia's Economic Pulse

                  Abrahamyan says there is no Monopoly in Armenia and he appoints his sidekick that says Monopolies are legal in Armenia?

                  Originally posted by armnuke View Post
                  According to Abrahamyan, there is no monopoly in Armenia in terms of law: there is one which has been formed during the economic activity.
                  "On 23 March, Armen Alaverdyan Deputy Minister of Finances was relieved from his post by the RA Prime Minister’s (Abrahamyan) decision and was appointed First Deputy head of State Revenue Committee."

                  The full text is available at: http://iravaban.net/en/121058.html

                  Monopolies in Armenia are legal, deputy head of state revenue committee says

                  http://arka.am/en/news/business/mono...ommittee_says/

                  Comment


                  • Re: Armenia's Economic Pulse

                    Originally posted by HyeSocialist View Post
                    Monopolies in Armenia are legal, deputy head of state revenue committee says

                    http://arka.am/en/news/business/mono...ommittee_says/

                    ---

                    This type of antipathy is descrutive. "Oh yes every one knows we are corrupt but as long as they pay taxes everything is ok right?" Bull sh*t!
                    He is justifying corruption. Using his argument all thieves should be freed, they are making a living.

                    I found an interesting article:

                    The wages of sin
                    http://www.economist.com/news/financ...-happens-wages

                    In theory, higher pay cuts corruption. In practice, the opposite happens


                    Jan 30th 2016 | From the print edition

                    WHETHER the miscreants are African policemen, European politicians or American university basketball players, the same remedy for corrupt behaviour is offered: pay people more money. It sounds intuitive. But does legitimate lucre really drive out the filthy kind? New research involving a natural experiment in West Africa suggests that it does not—and that conventional economic theories of corruption are wrong.

                    In 2010 Ghana began to move public officials to a new salary structure. The earliest and biggest beneficiaries were police officers, whose pay abruptly doubled. It was hoped that they would start behaving better as a result—and especially that they would stop extorting money from drivers at roadblocks. There was certainly much room for improvement: surveys around that time by Transparency International, a watchdog, found that 91% of Ghanaians believed their police were corrupt, an even higher proportion than thought the same of politicians.

                    As it happened, a large survey was already under way of lorry drivers plying the roads of Ghana and its neighbour, Burkina Faso. Drivers with their papers in order were asked to record how many times they were stopped and how much money they paid to police and customs officials along the route.

                    Two American economists, Jeremy Foltz and Kweku Opoku-Agyemang, have examined the data on 2,100 long-haul journeys. Oddly, they find that Ghana’s police became more corrupt after their salaries increased
                    , both absolutely and relative to Burkina Faso’s police and Ghanaian customs officers. The cops erected more roadblocks, detained lorries for longer (the average driver was stopped 16 times as he drove through Ghana, for eight minutes each time) and extracted more money.

                    Economic theory suggests the opposite should have happened, for two reasons. First, corruption is risky. You might lose your job if you do it, and the more you are paid, the bigger that loss would be. Second, officials are thought to have an income target. If they are underpaid, they will behave corruptly in order to make up the difference. The fact that some British MPs cheated on their expenses a decade ago was put down to the fact that they earned less than similarly qualified people. Ghana’s president, John Mahama, said last year that there was “no justification” for corruption now that salaries were higher.

                    Employees in the rich world who suddenly receive more money per hour—when their taxes are cut, for example—tend not to work less, as they might do if they had a fixed income target in mind. They work more. But given that the rewards from corruption had not gone up, this does not explain why Ghanaian police officers engaged in more graft. Mr Foltz and Mr Opoku-Agyemang, whose research was funded by the International Growth Centre at the London School of Economics, suggest that corrupt superiors or greedy relatives might have demanded more money from the officers. Another possibility is that the cops’ expectations went up. The pay rise may have boosted their sense of their own worth, leading them to demand more money.

                    It might be that the risk of being caught in Ghana is so low that normal calculations of risk and reward do not apply. Perhaps a combination of higher pay, political leadership and stiff punishments would have stopped corruption: it did in Singapore, for example. But money alone is not enough. In Ghana, some are astonished that anybody could have believed that higher pay would have made cops less greedy. That is just not human nature. As Ransford Van Gyampo, a political scientist at the University of Ghana, puts it: “In spite of how big the sea is, it still receives rain.”

                    Comment


                    • Re: Armenia's Economic Pulse

                      Armenia gets about $37 mln from common stock during its 1st year in EAEU

                      YEREVAN. - In 2015 Armenia received 17.6 bln AMD transfer from Eurasian Union (EAEU) customs fees (approx $37 mln), reads the Report on 2015 Armenian State Budget Performance, the discussion on which was launched in the Armenian parliament Monday.

                      Before entering the EAEU in 2015, Armenia hoped to get nearly $300 mln from the common stock in the first year, considering the results of 2013.

                      That year three republics of the Customs Union collected $26 bln duties, and Armenia’s 1.13 percent should thus have constituted $294 mln.

                      However, considering the deterioration of microeconomic conditions and drop in the commerce, Armenia received 17.6 bln AMD duties (converted to national currency), itself levying 43.9 bln AMD.

                      Thus, the revenues from customs duties made up 61.5 bln AMD in total or about 5.8 percent of the overall budgetary income.

                      http://news.am/eng/news/328657.html

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