Armenia's Economic Pulse

[Icy]

Re: Armenia's Economic Pulse

CBA Puts 100,000 AMD Note Into Circulation



The Central Bank of Armenia (CBA) has put 100,000 AMD banknotes into circulation today. Talking to journalists, CBA Board Chairman Vakhtang Abrahamyan reported that 50,000 AMD banknotes constitute 7% of the cash in circulation, and the CBA expects the new, 100,000 AMD, banknotes to constitute 3% of the amount.

As to whether this suggest AMD devaluation or is pregnant with a price rise, Abrahamyan said that the studies showed no reasons for concern.

“First, since they were put into circulation, 50,000 AMD banknotes have been serving the country’s economy and presently constitute 7% of the cash in circulation. We think that the 100,000 AMD banknotes will constitute 3%, which cannot cause any rise in prices. Secondly, we have considered the experience of a number of countries (Denmark, Switzerland, Czech Republic, Baltic States), which shows it facilitates circulation and allows large-scale transactions to be effected in terms of other currencies,” Abrahamyan said.

As to what is the sense of putting 100,000 AMD banknotes into circulation if 50,000 AMD banknotes constitute only 7% of the total cash in circulation, Abrahamyan said that the measure is supposed to make large-scale transactions easier for people.

The CBA Board member also expressed the opinion that the measure will not cause an increase in the cash amount in circulation, as the newly printed 100,000 AMD banknotes have nothing in common with the CBA-implemented programs, which, in turn, are aimed at reducing the share of cash in circulation and facilitating cashless payments.


Source: http://news.am/en/news/economy/3014.html

[Muhaha]

Re: Armenia's Economic Pulse

Asian Development Bank: 20-30% of Armenians Suffer from Hunger

In a statement made today, the Asian Development Bank reported that more than 30 percent of Armenia’s population suffers from hunger, as do 20-30 percent of the people in Tajikistan, Bangladesh, Cambodia, Mongolia, India, Pakistan, Sri Lanka and East Timor.

The ADB reported that large pockets of extreme poverty and hunger persist in Asia, where the global downturn makes it more difficult to achieve U.N. goals to reduce the ranks of the poor, the Asian Development Bank said Wednesday.

Nepal is the worst off with 55.1 percent of its population surviving on less than $1.25 a day. In China and India, 15.9 percent and 41.6 percent of the population live below the poverty line, respectively.

http://hetq.am/en/economy/14988/

[Icy]

Re: Armenia's Economic Pulse

Construction in Armenia is stong, check out some videos of
construction being done:

http://www.youtube.com/user/GlendaleHills

http://www.youtube.com/user/wwwtert

[hightlow]

Re: Armenia's Economic Pulse

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[Haykakan]

Re: Armenia's Economic Pulse

MACROECONOMIC INDICATORS DOWN IN ARMENIA

Information-Analytic Agency NEWS.am
Sept 18 2009
Armenia

The RA Statistical Service has published the macroeconomic indicators
of Armenia.

According to the report, an 18.4% economic decline was recorded
in the country this January-August. Armenia's GDP totaled 1,716.8m
AMD GDP, and the number of unemployed reached 83,800 (an increase
of 10.8%). All the economic sectors recorded a decrease in output,
with a considerable decline recorded in the construction sector -
52.6%. In the other sectors the situation was as follows: industry
(11.9%); services (1.4%); agriculture (1.5%).

This January-April, Armenia's foreign trade turnover showed a decrease
of 29.9%, with a 41.1% decrease in exports and 27% decrease in imports.

[Haykakan]

Re: Armenia's Economic Pulse

Four Gravity Systems
From: Mihran Kalaydjian <[email protected]>
Date: Wed, 23 Sep 2009 18:50:02 +0500 (AMST)

--------------------------------------------------------------------------------

FOUR GRAVITY SYSTEMS

http://www.lragir.am/engsrc/economy-lrahos15275.html

16:49:58 - 22/09/2009

The Millennium Challenge Armenia (MCA-Armenia) SNCO signed a
contract with Arpa-Sevan Open Joint Stock Company (Armenia) to
perform construction works on the Aygezard, Shenik, Mantash and
Vardenis gravity systems. The contract was signed by Ara Hovsepyan,
MCA-Armenia CEO and Paruir Hakobyan, Director of Arpa-Sevan.

Present at the signing ceremony was the RA Deputy Prime-Minister,
Minister of Territorial Administration Armen Gevorgyan. Mr. Gevorgyan
is also member of MCA-Armenia's Governing Council.

The contract price is 5, 512, 827.12 US dollars and the term of the
contract is 20 months.

More than 61, 000 farmers in 23 communities of Ararat, Armavir,
Gegharkunik and Shirak marzes will benefit from the construction of
these gravity systems.

Construction of the four gravity schemes is one of the key components
of MCA-Armenia Irrigation Infrastructure Activity, under which
MCA-Armenia will conduct rehabilitation works on 6 main canals,
renovate 17 pumping stations, help the farmers in more than 70
communities to upgrade their tertiary irrigation systems, and make
improvements to the Ararat valley drainage system.

[Haykakan]

Re: Armenia's Economic Pulse

PLASTIC CARDS IN ARMENIA GROW BY 28%

ArmInfo
2009-09-22 18:46:00

ArmInfo. Plastic cards in Armenia by September 1, 2009, grew by 28%
to 409346 pieces, as compared to the similar period of 2008. Moreover,
12998 cards were issued in August, having yielded to July indicator
by 4004 cards.

These cards have been issued by the Armenian payment system's
member-banks.

62% (254,000 pieces) of the total active cards fell on the local ArCa
cards, 25% (104.3 thsd pieces) - on Visa and 13% (50.9 thsd pieces)
- on MasterCard. Operations in August were carried out on 271.4 thsd
cards on the average (66% of the total active cards) having exceeded
July indicator by 8,4%.

As Armenian Card CJSC told ArmInfo, the number of the active
sales/service points and cash delivery stations in this system (less
regard to ATMs) as of September 1 made up 2026, 294 of which are cash
delivery stations. 2280 POS-terminals functioned in these sales/service
points, 371 of which - in the cash delivery stations. Along with
it, ArCa cards were served by 2260 POS-terminals, Visa - by 1552,
MasterCard - by 1819 out of the total number of POS-terminals. The
number of sales/service points and cash delivery stations over August
grew by 22 as compared to July, and POS-terminals - by 20. Total of
518 ATMs operated in Armenia as of September 1, 2009.

[Haykakan]

Re: Armenia's Economic Pulse

OPEN BORDER WITH TURKEY WOULD MAKE ARMENIA EXPORTING COUNTRY: BUSINESSMAN

/ARKA/
September 23, 2009
YEREVAN

Vazgen Safarian, chairman of the Union of Armenian Commodity Producers,
argued Tuesday that the open border with Turkey would transform
Armenia from an importing country into an exporting one.

"If our goal is to become a developed country we should work to make
Armenia a country that exports its goods and the open border with
Turkey will push Armenian producers to seek foreign markets and to
improve the quality of their goods,' he said, warning, however, that
after the border is open, Armenia's economic relations with Turkey
will not be on a par.

To substantiate he cited the latest figures reflecting Turkish-Armenian
trade in 2008 when Turkish imports to Armenia amounted to $269 million.

Turkey sells to Armenia mineral resources ($38 million), bituminous
materials ($40.4 million), knitted fabric and garments ($50 million)
cables and many other produces. Armenian exports to Turkey last
year- ferrous metals, electricity, metal scrap, aluminum and lather-
totaled $1.8 million.

According to Vazgen Safarian, this disparity is the result of the
closed border and lack of diplomatic relations between the two
countries.

"The priority task of the government is to encourage domestic
producers. This is why our organization has developed a strategic
development concept encouraging Armenian producers w hich we are going
to send to the government's consideration,' he said, adding that if
the border opens Armenia can sell $220 million wroth electricity to
Turkey annually.

According to official figures, Armenia's trade with Turkey in
the first seven months of 2009 slashed by 28% to $86.7 million
year-on-year. Armenian exports to Turkey plummeted by 50.1% to $539,800
(0.2% of all Armenian exports). Turkish import to Armenia fell by 27.8%
to $86.2 million. At the same time import from Turkey's territory
fell by 23.1% to $76 million.

[gegev]

Re: Armenia's Economic Pulse

Turkey’s cheapest labor made their products cheaper in Caucasus and flooding our market with the products will kill our ‘alive’ producers in no time.

Armenia will import their “products” even cheaper; w/o paying tariffs at importing through Georgia. It will make their ‘products’ most cheaper ones; killing the rest of production we have.

And Armenia's Economic Pulse will be stopped.

Note please that minimal average wage in Armenia, in non government owned companies, is about $600.

After accepting all Turkish preconditions on AG, Western Armenia, Artsakh we will be looking as a second grade country in the world that lost its self-respect.

Imports will be increased immensely, thats right!!!!!!!!!!

Situation is terrific! Please don’t tell that Armenia is winning when, in fact, we are losing all the advantages we had/have forever!

[Haykakan]

Re: Armenia's Economic Pulse

Turkey’s cheapest labor made their products cheaper in Caucasus and flooding our market with the products will kill our ‘alive’ producers in no time.

Armenia will import their “products” even cheaper; w/o paying tariffs at importing through Georgia. It will make their ‘products’ most cheaper ones; killing the rest of production we have.

And Armenia's Economic Pulse will be stopped.

Note please that minimal average wage in Armenia, in non government owned companies, is about $600.

After accepting all Turkish preconditions on AG, Western Armenia, Artsakh we will be looking as a second grade country in the world that lost its self-respect.

Imports will be increased immensely, thats right!!!!!!!!!!

Situation is terrific! Please don’t tell that Armenia is winning when, in fact, we are losing all the advantages we had/have forever!

Your statements contradict the facts. There is a reason why many in Armenia want to open the border on the Armenian side and it's not because they love turcks. The armenian side has much more to gain from open borders then the turckish side and any self respecting economist would tell you that.