Armenia's Economic Pulse

[londontsi]

Re: Armenia's Economic Pulse

Reporting live from Armenia: rumor has it its Kocharians sons and Serges sons business in exporting. Rumor has it they're going to start exporting to Italy. I say rumor because everything in this country seems to be a rumor.

There are many things that are exported from Armenia.

The issue has to be, is the foreign exchange coming into Armenia or going into some offshore account.

https://www.youtube.com/watch?v=y6jbz5j5zus

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[Haykakan]

Re: Armenia's Economic Pulse

I have eaten some great cheese in Armenia. The best ones were from the people who make them for themselves, like the sheppards in the mountains. The cheese I bought at the store that was locally made was also very good! I wish they would export to USA. Cheese prices here are crazy.

[HyeSocialist]

Re: Armenia's Economic Pulse

Agree with you! I hope it is Armenian owned company.

Reporting live from Armenia: rumor has it its Kocharians sons and Serges sons business in exporting. Rumor has it they're going to start exporting to Italy. I say rumor because everything in this country seems to be a rumor.

[Azad]

Re: Armenia's Economic Pulse

Spayka means United in Russian. Quite possibly an Armenian merchant in the food business that expanded into freight forwarding. Possibly wants to be anonymous. Who knows. But the company seems to be behaving like your textbook conglomerate. Kudos for him! Thanks for sharing. Hopefully he becomes a bigger freight forwarder in all of the CIS. It's a good business, and one that I am in.

Agree with you! I hope it is Armenian owned company.

[londontsi]

Re: Armenia's Economic Pulse

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YEREVAN. – Spayka company of Armenia is launching the production of blue cheese.

https://news.am/eng/news/385444.html

Head of the Project Management Division at Spayka, Karen Baghdasaryan, informed about the aforesaid at a press conference on Wednesday.

“Studying the Russian market, we [Spayka] saw that there is huge potential,” said Baghdasaryan. “At present, contracts already have been signed for exporting more than 1,000 tons of blue cheese per year, from Armenia to Russia.”

The respective cheese factory will operate in Kotayk Province of Armenia.

The company plans to invest about $15 million per year for the production of cheese and other dairy products.

In 2017, Spayka will implement several major projects, and as a result, 390 new jobs will be created and about $70 million will be invested in Armenia.

In 2016, the company exported more than 100,000 tons of goods from the country. In the current year, it plans to increase exports by 20 percent, and by expanding its export markets and including the countries of the European Union and the Middle East.

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[HyeSocialist]

Re: Armenia's Economic Pulse

http://arka.am/en/news/business/rushydro_to_consider_sale_of_sevan_hrazdan_cascade/

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Hopefully, a company that manages utilities properly takes over. One of the draws to investment in Armenia is the low energy costs and abundant renewable energy potential. You can't develop these markets if all you do is pillage the people.

[HyeSocialist]

Re: Armenia's Economic Pulse

This is a good equation. Does anyone know about Spayka LLC if it is private Armenian company or some other country's subsidiary?
It looks a good business model. Having control of the transport than diversify with products for export.

https://www.armenpress.am/eng/news/887371/spayka-llc-plans-to-establish-roquefort-cheese-production-in-armenia.html

Checked their website they are vague on the "About Us" part.

https://www.spayka.am/en/about_us_block/about_us.html

Spayka means United in Russian. Quite possibly an Armenian merchant in the food business that expanded into freight forwarding. Possibly wants to be anonymous. Who knows. But the company seems to be behaving like your textbook conglomerate. Kudos for him! Thanks for sharing. Hopefully he becomes a bigger freight forwarder in all of the CIS. It's a good business, and one that I am in.

[Azad]

Re: Armenia's Economic Pulse

This is a good equation. Does anyone know about Spayka LLC if it is private Armenian company or some other country's subsidiary?
It looks a good business model. Having control of the transport than diversify with products for export.

https://www.armenpress.am/eng/news/887371/spayka-llc-plans-to-establish-roquefort-cheese-production-in-armenia.html

Checked their website they are vague on the "About Us" part.

https://www.spayka.am/en/about_us_block/about_us.html

[Zeytun]

Re: Armenia's Economic Pulse

https://www.azatutyun.am/a/28414614.html

Armenian Government Plans Extra Spending In 2017

Citing improved tax collection, the Armenian government said on Thursday that it hopes to spend roughly 50 billion drams ($103 million) more than expected this year.

Prime Minister Karen Karapetian and Finance Minister Vartan Aramian announced those plans at a weekly cabinet session in Yerevan.

“We can increase our tax revenue [projected for] this year by around 50 billion drams and spend as much on capital projects so that we can target much faster economic growth for 2018,” Aramian said at the meeting.

“We need more capital spending in this country so that we can ensure faster economic growth,” he told reporters afterwards. He did not specify which concrete projects the additional tax revenue, which totaled 11.5 billion drams in the first quarter of this year, will finance.

According to government data, economic growth in Armenia slowed to 0.5 percent last year amid a continuing recession in Russia. Karapetian’s cabinet has forecast that it will accelerate to 3.2 percent this year.

The planned extra spending would be equivalent to about 4 percent of overall expenditures envisaged by Armenia’s 2017 state budget. The government had decided to cut public spending this year in order to curb a widening budget deficit that exceeded 5 percent of Gross Domestic Product in 2016. The 2017 budget also calls for higher tax revenue.

The State Revenue Committee (SRC) reported on Thursday that it collected 255 billion drams in taxes and customs duties in the first quarter, a year-on-year increase of 10.5 percent. The SRC attributed the increase to a tougher fight against corporate tax evasion and ongoing reforms of tax administration.

Vartan Harutiunian, the current SRC chief appointed in October, said in December that he plans to remove “corrupt and unhealthy elements” from the SRC. Karapetian, for his part, spoke in February of “fundamental” changes planned within Armenia’s tax and customs services making up the SRC. Corruption among tax and customs officials has long been endemic.

The prime minister said on Thursday that he expects the new SRC leadership to come up soon with a “plan for the second phase of reforms” of tax administration.

[londontsi]

Re: Armenia's Economic Pulse

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