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Armenia's Economic Pulse

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  • Federate
    replied
    Re: Armenia's Economic Pulse

    Every single doom and gloom prediction from joining the EEU is collapsing one by one. The latest doom and gloom prediction to collapse is that "joining the EEU would hurt trade with Georgia." It hasn't, we have maintained our free trade with them and our trade is growing.


    Armenian, Georgian Leaders Hail Growing Bilateral Trade


    Armenia’s leaders and Georgia’s Prime Minister Giorgi Kvirikashvili hailed rapidly growing trade between their countries and called for its further expansion when they met in Yerevan on Monday.

    Kvirikashvili held talks President Serzh Sarkisian and Prime Minister Hovik Abrahamian during an official visit to the Armenian capital.

    Sarkisian told him that Georgian-Armenian relations should be deepened “in all areas” and raised to a “qualitatively new level.” According to a statement by Sarkisian’s office, Kvirikashvili agreed, saying that the increasingly “active” Georgian-Armenian economic ties bode well for that.

    Kvirikashvili and Abrahamian were reported to praise “positive dynamics” in Georgian-Armenian trade at their separate meeting held earlier in the day. The Armenian premier spoke of “noticeable progress” in relations between the two neighboring statements.


    “In recent years, Georgian-Armenian relations have been characterized by positive progress,” an Armenian government statement quoted Kvirikashvili as saying. He praised the “high level of cooperation in the economic field.”

    According to Armenian government data, Armenia’s trade with Georgia rose by 17 percent in 2015 and as much as 63 percent in the first half of this year, even if it remained rather modest in absolute terms.

    The rapid growth followed the 2014 signing of Georgia’s far-reaching Association Agreement with the European Union and Armenia’s controversial accession in January 2015 to the Russian-led Eurasian Economic Union (EEU).

    The EEU membership requires the Armenian authorities to gradually adopt significantly higher duties that are collected by Russia, Belarus and Kazakhstan from goods imported from third countries. But contrary to many expectations, Armenia appears to have succeeded in maintaining its free-trade regime with Georgia and Armenia.

    Abrahamian suggested on Monday the creation of Armenian-Georgian joint ventures in Armenia that would have tariff-free access to the Russian and other EEU markets. “Georgia’s prime minister welcomed the idea and proposed to discuss further steps in the format of a joint task force,” a read a statement released by his press service.

    The statement said the two prime ministers also noted that the ongoing construction of a new bridge at the main Georgian-Armenian border crossing is proceeding according to plan. The two governments agreed to build it in 2014. They said the “friendship bridge” will facilitate bilateral commerce and travel.

    Abrahamian and Kvirikashvili also discussed the planned construction of a new high-voltage transmission line connecting their Armenian and Georgian power grids. The $105 million facility should lead to a sharp increase in mutual electricity supplies.

    Incidentally, Energy Minister Kakha Kaladze was among Georgian officials that accompanied Kvirikashvili on the trip.

    Armenia’s leaders and Georgia’s Prime Minister Giorgi Kvirikashvili hailed rapidly growing trade between their countries and called for its further expansion when they met in Yerevan on Monday.

    Leave a comment:


  • armnuke
    replied
    Re: Armenia's Economic Pulse

    ArmOil to commission oil refinery in 3-4 years

    YEREVAN, September 5. /ARKA/. It will take the ArmOil company 3-4 years to commission an oil refinery in the town of Yeghvard in the central Kotayk province, economy minister Artsvik Minasyan told a last week Cabinet meeting, recalling that the company had been awarded already a 3-year VAT payment deferment in late 2015.

    According to him, the company will invest in the construction of the refinery a total of $35 million (16.8 billion Armenian drams.

    "The company decided to install modern technology and equipment in the refinery and had to increase the money for purchase of new equipment to 746.6 million drams, for which it has also been awarded a VAT payment deferment,’ Minasyan said.

    It will take the ArmOil company 3-4 years to commission an oil refinery in the town of Yeghvard in the central Kotayk province, economy minister Artsvik Minasyan told a last week Cabinet meeting, recalling that the company had been awarded already a 3-year VAT payment deferment in late 2015.

    Leave a comment:


  • Haykakan
    replied
    Re: Armenia's Economic Pulse

    Originally posted by Mher View Post
    lol why is it always about russia for you man? why can't it ever just be about Armenia. Why do you have to make every single about Armenia relate to Russia. Anyway, the mighty Russian Federation was afraid to do business with Iran. Because the US controls the global financial system. Yet tiny little Armenia was supposed to stand up to the US?
    I think you can answer your own question regarding your first comment as no explanation should be needed. As for the second point..yes it would indeed be nice to see anyone grow some balls and do the right thing for a change. Russia has other reasons for doing what it does.

    Leave a comment:


  • armnuke
    replied
    Re: Armenia's Economic Pulse

    Mobile users number in Armenia - 2016 data
    Mobile users number in Armenia in 2Q of 2016 (compared with 2014 4Q data)


    3 434 396 - the number increased by 10 160 since 2014 4Q (penetration ~ 120%)


    Distribution by mobile operators (and changes since 1Q):


    Vivacell - 2 084 162 (-61 304)
    Beeline - 863 562 (+86 384)
    Ucom (former Orange) - 486 672 (-14 920)



    The number of mobile users using internet from phone is 1 661 946

    Distribution by mobile operators (and changes since 2014 4 Q):

    Vivacell - 1 059 078 (+6 680)
    Armentel/Beeline - 337 895 (+22 957)
    Ucom - 264973 ( +9 592)

    Leave a comment:


  • Mher
    replied
    Re: Armenia's Economic Pulse

    Originally posted by Haykakan View Post
    Mher you cannot use my own words to criticize me as I was the one who defended the government a long time using the same words. The issue is that over time the government has consistently been caught flat footed regarding domestic events, especially relating to economic betterment of the people. This is not about any particular issue, it is more about lacking either the will or the know how or both to improve the situation at hand. Plenty of economic opportunities have slipped through the hands of this government because of its own ineptitude or corruption. These negative qualities are in no way unique to the Armenian government but they are a major obstacles that prevent Armenia from reaching her potential. I was the only one here that defended the government for a looong time as most of the issues it was being blamed for were not of its own making. The reason why I am criticizing it now is because this administration has had a lot of time to build the economy and instill trust into the public yet it has not exactly succeeded in the former and definitely failed miserably in the later. Situational factors should always be considered such as the sabotage initiated by the west against Russia and her allies but this government has had time to react, it has had stability to create, it has had opportunities to waist. The potential to develop great trade and diplomatic relations with Iran is fading if it has not faded already as Iran has deemed the Armenian government unreliable as a partner in anything. What has the west or anyone else given us for honoring the unjust and stupid embargo? We lost major opportunities and got nothing in return...stupid, stupid, stupid!!!!! I was the one who pointed out before everybody else here including yourself that Armenia lacks true sovereignty and this is still very much true, the problem I have is that the government has not taken advantage of whatever opportunities that did exist despite all the obstacles. This government and its leader have been effective in strategic relations but not on the economic and social fronts. Trust between the people and the administration is nonexistent and this has a lot to do with the failures I mentioned. No one points to foreign meddlers more then I, but at some point the government needs to be held accountable for its own failures!
    lol why is it always about russia for you man? why can't it ever just be about Armenia. Why do you have to make every single about Armenia relate to Russia. Anyway, the mighty Russian Federation was afraid to do business with Iran. Because the US controls the global financial system. Yet tiny little Armenia was supposed to stand up to the US?

    Leave a comment:


  • Haykakan
    replied
    Re: Armenia's Economic Pulse

    Originally posted by Mher View Post
    While our government has room to improve, there were also plenty of obstacles starting from Iranian protectionist policies to sanctions on Iran. It wasn't that Armenia didn't pursue it, but that it wasn't feasible. The magnitude of the effect of the Iranian sanctions being removed will only start to be felt in the coming years. Moreover, this is the fruit of the very intelligent EEU decision by Armenia despite the endless hysteria three years ago.

    Finally I've seen plenty of key economic moves since ARF joined the government and Artsvik Minasyan of the ARF was appointed economic minister. It's amazing what happens when you decide to become part of the process and participate, instead of protesting like an idiot on the street.


    It's amazing how we approach the Armenian government. It's damned if you and damned if you don't. If there is corruption, no matter to what extent, we declare Armenia to be the worst place there is and scream about why it's not being addressed. When the corruption is addressed, we say why was there corruption in the first place for it to be addressed, or why wasn't it done earlier. Same situation here, even a positive, we manage to turn into a negative and say why wasn't it done earlier.
    Mher you cannot use my own words to criticize me as I was the one who defended the government a long time using the same words. The issue is that over time the government has consistently been caught flat footed regarding domestic events, especially relating to economic betterment of the people. This is not about any particular issue, it is more about lacking either the will or the know how or both to improve the situation at hand. Plenty of economic opportunities have slipped through the hands of this government because of its own ineptitude or corruption. These negative qualities are in no way unique to the Armenian government but they are a major obstacles that prevent Armenia from reaching her potential. I was the only one here that defended the government for a looong time as most of the issues it was being blamed for were not of its own making. The reason why I am criticizing it now is because this administration has had a lot of time to build the economy and instill trust into the public yet it has not exactly succeeded in the former and definitely failed miserably in the later. Situational factors should always be considered such as the sabotage initiated by the west against Russia and her allies but this government has had time to react, it has had stability to create, it has had opportunities to waist. The potential to develop great trade and diplomatic relations with Iran is fading if it has not faded already as Iran has deemed the Armenian government unreliable as a partner in anything. What has the west or anyone else given us for honoring the unjust and stupid embargo? We lost major opportunities and got nothing in return...stupid, stupid, stupid!!!!! I was the one who pointed out before everybody else here including yourself that Armenia lacks true sovereignty and this is still very much true, the problem I have is that the government has not taken advantage of whatever opportunities that did exist despite all the obstacles. This government and its leader have been effective in strategic relations but not on the economic and social fronts. Trust between the people and the administration is nonexistent and this has a lot to do with the failures I mentioned. No one points to foreign meddlers more then I, but at some point the government needs to be held accountable for its own failures!

    Leave a comment:


  • Mher
    replied
    Re: Armenia's Economic Pulse

    Originally posted by Haykakan View Post
    Things like this make me question the will of this government to improve the domestic situation. Why was this not done decades ago? Only when the xxxx hits the fan do they seem to get off their asses and do something to improve the lives of their people. I would not be too hopeful about the results though as there is still no rail connection there which would allow for massive trade between Iran and EEU. The potential is much greater for this via Azerbadjan. Had they built up such a zone decades ago, by now we could be pointing to it and saying "look there is the proof that the railroad is worth building". This government is reactionary instead of proactive.
    While our government has room to improve, there were also plenty of obstacles starting from Iranian protectionist policies to sanctions on Iran. It wasn't that Armenia didn't pursue it, but that it wasn't feasible. The magnitude of the effect of the Iranian sanctions being removed will only start to be felt in the coming years. Moreover, this is the fruit of the very intelligent EEU decision by Armenia despite the endless hysteria three years ago.

    Finally I've seen plenty of key economic moves since ARF joined the government and Artsvik Minasyan of the ARF was appointed economic minister. It's amazing what happens when you decide to become part of the process and participate, instead of protesting like an idiot on the street.


    It's amazing how we approach the Armenian government. It's damned if you and damned if you don't. If there is corruption, no matter to what extent, we declare Armenia to be the worst place there is and scream about why it's not being addressed. When the corruption is addressed, we say why was there corruption in the first place for it to be addressed, or why wasn't it done earlier. Same situation here, even a positive, we manage to turn into a negative and say why wasn't it done earlier.
    Last edited by Mher; 08-26-2016, 11:02 PM.

    Leave a comment:


  • londontsi
    replied
    Re: Armenia's Economic Pulse

    Money from sale of MFA former building to be used for repairing Yerevan streets

    The building was sold to the construction company of Argentinean Armenian billionaire Eduardo Eurnekian…




    YEREVAN. – The money, which was received from the sale of the building that also housed the Ministry of Foreign Affairs (MFA) of Armenia, will be allocated for the repair of streets in capital city Yerevan.

    The respective decision was approved at Thursday’s Cabinet session.

    This amount, which totals approximately US$4,886,000, will be used for filling up the cracks on and the current repair of Yerevan streets, and maintenance of the external lighting network of the city.

    In its stead, however, the Armenian state budget will allocate the same amount to the reserve fund.

    The building was sold to Tango construction company, whose proprietor is Argentinean Armenian billionaire Eduardo Eurnekian.

    Aside from purchasing this building, the company also built a new government building complex, at its expense in downtown Yerevan, for the MFA and four other ministries of Armenia.


    .

    Leave a comment:


  • Haykakan
    replied
    Re: Armenia's Economic Pulse

    Originally posted by Azad View Post
    Very smart move.
    Things like this make me question the will of this government to improve the domestic situation. Why was this not done decades ago? Only when the xxxx hits the fan do they seem to get off their asses and do something to improve the lives of their people. I would not be too hopeful about the results though as there is still no rail connection there which would allow for massive trade between Iran and EEU. The potential is much greater for this via Azerbadjan. Had they built up such a zone decades ago, by now we could be pointing to it and saying "look there is the proof that the railroad is worth building". This government is reactionary instead of proactive.

    Leave a comment:


  • Azad
    replied
    Re: Armenia's Economic Pulse

    Originally posted by armnuke View Post
    Armenia Announces Creation Of Free Economic Zone At Border With Iran
    Very smart move.

    Leave a comment:

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