Re: Armenia's Economic Pulse
IMF downgrades 2016 economic growth outlook for Armenia to 1.9%
YEREVAN, April 13. /ARKA/. In a fresh, April issue of World Economic Outlook, the International Monetary Fund has downgraded outlook for Armenia’s economic growth in 2016 to 1.9%.
In its previous report issued in October 2015, the IMF expected Armenia’s GDP would grow 2.2% in 2016 and IMF Mission Chief to Armenia Hossein Samiei said jus one week ago that economic growth in Armenia would be between 2.25% and 2.5% in 2016.
In its April report for 2017, the IMF predicts a 2.5% economic growth to Armenia.
Inflation in Armenia is projected to stand at 2.6% (3.4% in the previous forecast) in 2016 and at 4% in 2017.
According to the IMF forecast, unemployment rate in Armenia would rise from 17.7% in 2015 to 18.2% in 2016 and 18.3% in 2017.
The IMF analysts downgraded also economic outlooks for other CIS countries, including Georgia, Ukraine and Turkmenistan.
They expect a 1.1% economic decline in the CIS countries instead of the stagnation projected in their January report and a 0.4% growth predicted in their October report.
The IMF analysts predict recovery in CIS countries in 2017 with 1.3% GDP growth.
They say Russia’s economy is thought to fall 1.8% in 2016 against the 0.6% decline predicted in their October report and 1% decline predicted in January, Azerbaijan’s economy would drop 3% against the 2.5% growth projected in October and Belarusian economy would go 2.7% down against the 2.2% projected previously.
Kazakhstan’s economy is expected to grow 0.1% in 2016 against the 2.4% projected in the previous report, Uzbekistan would enjoy a 5% growth instead of the previously predicted 7%, Turkmenistan 4.3% instead of 8.9%, Ukraine 1.5% instead of 2% , Georgia 2.5% instead of 3%, Tajikistan 3% instead of 3.4%, Kyrgyzstan 3.5% instead of 3.6% and Moldova 0.5% instead of 1.5%.
Developed countries had their 2016 and 2017 economic growth outlooks downgraded as well – to 1.9% and 2% respectively instead of the previous (January) 2.1% for both years.
The United States’ economic growth outlook was downgraded from 2.6% to 2.4% and that of the euro zone from 1.7% to 1.5%.
Economic growth outlooks for countries with forming market and developing countries were downgraded by 0.2% and 0.1% to 4.1% and 4.6% respectively.
The IMF upgraded its 2016 economic growth outlook for China to 6.5% from the previous 6.3%.
As a result, the IMF’s 2016 outlook for global GDP growth shed from 3.4% to 3.2% and its 2017 forecast from 3.6% to 3.5%.
The IMF says the global economy growth stood at 3.1% in 2015.
In Armenia’s government budget for 2016, GDP growth is projected at 2.2%.
According to the World Bank’s latest report, economic growth in Armenia will be recorded at 1.9% in 2016, the Eurasian Development Bank predicted 2-2.5% growth, Fitch up to 2%, and Moody’s predicts slowdown to 2.2%.
The National Statistical Service of Armenia says the country’s economic growth stood at 3% in 2015 against the 4.1% projected in the government budget, GDP amounted to AMD 5 047.4 billion or about $10.56 billion ($1 – AMD 481.94 exchange rate in 2015).
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Re: Armenia's Economic Pulse
This info seems dated, 2015 was a positive year for Armenia as the country had a 1,8XX person growth.Leave a comment:
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Re: Armenia's Economic Pulse
Armenia has lost one million of people able to work over years of its
independence
YEREVAN, April 13. /ARKA/. Armenia has lost one million of people able
to work over the years of its independence, Garik Hayrapetyan,
representative of UNFPA Armenian office, told journalists on
Wednesday.
Although things improved in 2006 and 2007 and even a positive
migration balance was seen, he said, the situation worsened again
after the 2008 recession.
«The migration balance is adverse again, and stands at 30,000 people a
year,» Hayrapetyan said.
Vanik Babajanyan, chief of the Armenian labor and social affairs
ministry’s demography division, said on his side, that it was
migration and appearance of so-called distant families that caused
divorces in Armenia – some families relocate to migrants, increasing
migration rates, and some families are destroyed.
Some 3,669 divorces were formalized in Armenia in 2015 against 4,496
in 2014. ---0----
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Re: Armenia's Economic Pulse
ARMENIAN SCIENTISTS CREATE REMOTELY CONTROLLED THERMOS
YEREVAN, March 31. /ARKA/. A group of young Armenian scientists has
created an innovative thermos Yecup 365, which can be controlled
remotely, writes indiegogo.
The uniqueness of the thermos is that the temperature of the liquid in
it can be identified and regulated through a smartphone by downloading
Yecup 365 application, which is available for Android and iOS.
By using Yecup 365 one can cool or warm the liquid in a thermos in
a few minutes, so it is particularly convenient for travellers. -0--
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Re: Armenia's Economic Pulse
PRESS RELEASE
THE PAROS FOUNDATION
918 Parker Street, Suite A14
Berkeley, CA 94710
Contact: Peter Abajian, Executive Director
Tel: 310/400-9061
Email: [email protected]
Web: www.parosfoundation.org
NEW HOMES AND A FRESH START FOR GYUMRI FAMILIES
Gyumri, Armenia-The Paros Foundation is pleased to announce that two
families have become new homeowners through the Paros Foundation's Purchase
a Home project. The Agayan and Hakopyan families of Gyumri were previously
living in temporary shelters or domiks. In 2015, they were moved from
these domiks into newly purchased apartments thus receiving a new start. To
date, the Paros Foundation's Purchase a Home project has made home
ownership a reality for four Gyumri families thanks to the generous support
of our donors.
`There are many families like ours. I wish they would be fortunate enough
to receive a home also. It is most important to not lose hope,' said Kim
Agayan on the night he and his family first learned they were chosen to be
new homeowners. Mr Agayan left Sumgait, Azerbaijan following the Sumgait
pogroms and moved to Gyumri. More tragedy followed when his apartment was
destroyed in the 1988 Spitak Earthquake. He married, and he and his wife
and three daughters lived in a domik until two anonymous donors from
California stepped forward and sponsored the purchase of a new apartment.
Earlier this summer, the Hakopyan family of Gyumri also received an
apartment through the Purchase a Home project. `Hakop Hakopyan and his
wife both grew up in domiks following the Earthquake, and their two sons
will not have to endure the hardships they faced,' said Peter Abajian,
Executive Director of The Paros Foundation. While the Hagopyan and Agayan
family stories have a happy ending, more than 2,700 poverty-stricken
families continue to live in horrible conditions in temporary shelters and
in condemned buildings.
The Paros Foundation has partnered with the Shirak Center, which identifies
potential beneficiaries and works closely with Paros to transition these
families into their new homes. Following a rigorous screening process to
select the families, the Paros Foundation staff identifies suitable homes
in the newly constructed Mush 2 Neighborhood of Gyumri. Each home cost on
average $20,000 for a two-bedroom apartment and includes upgrades to make
sure they are well appointed. At a minimum, families must demonstrate that
they have the means to cover expenses associated with home ownership. =80=9CWe
make sure to the best of our ability that families are in a position to
maintain their new homes,' explains Pete Abajian*.* Agreements are
signed
passing ownership of the apartment to the chosen family, with the
stipulation that until their youngest child reaches 18 years of age, the
family cannot sell, rent or move.
As part of this agreement, families must surrender ownership of their old
`domiks' which are then dismantled and thus ensuring that no one will ever
live in them again. This mandatory component of the Paros Purchase a Home
project helps us work towards the goal of ridding Gyumri of these terrible
shelters. Wood taken from the salvage is distributed to other families to
allow them to burn it for heating and cooking. The metal and other
construction materials from the domiks are sold for scrap and above average
wages are paid to those who work to tear them down.
The Paros Foundation underwrites all administrative expenses so that 100%
of the donor contributions are allocated to the projects. To help support
the purchase of home for another family in Gyumri, or another project of
the Paros Foundation's Projects for Prosperity, please visit
www.parosfoundation.org <https://urldefense.proofpoint.com/v2...gUVmDuNE2cU&e= >.Leave a comment:
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Re: Armenia's Economic Pulse
Had a further look at this organization membership.Originally posted by Haykakan View Post
Azerbaijan is already a member country.
Armenian just started the membership process.
.Leave a comment:
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Re: Armenia's Economic Pulse
Fuller Center for Housing Armenia
Contact: Rouzanne Sakanyan
Fuller Center for Housing Armenia 59 Komitas Ave., 0051 Yerevan, RA
Tel: +374 10 20 43 90
Email: [email protected]
Web: https://urldefense.proofpoint.com/v2...PggVio1Dv_w&e=
Advanced Rural Development Initiative (ARDI) Annual Workshop
23 March, 2016 Yerevan
On 23 March, 2016 the Fuller Center for Housing Armenia and Heifer Project
International Armenia Branch organized an annual workshop of the Advanced
Rural Development Initiative (ARDI) Program funded by USAID with the
participation of 51 target community and cooperative representatives from
Lori, Vayots Dzor and Syunik marzes.
ARDI is a five-year program launched in September 2013. The program and
aims to increase rural employment by tackling constraints to rural economic
development in select rural communities of Syunik, Vayots Dzor and Lori
provinces of Armenia. The program supports interventions in three main
rural economic sectors and value chains: dairy processing, fruit processing
and rural tourism. ARDI program is implemented by the Fuller Center for
Housing Armenia and Heifer Project International Armenia Branch.
The first stage includes assessment of competitive advantage of target
communities, and the value chain that has more potential to develop in each
cluster. With the next stage capacity building is organized for the cluster
members, technical and financial support is granted.
ARDI program emphasizes the importance of collaboration among farmers of
target communities, joint discussions, collaboratively identifying and
finding solutions for problems.
For this purpose, ARDI program organized the Annual Workshop and the agenda
included the following topics- unite farmers and cooperatives from
different regions, which cooperate with different markets of agricultural
products and services in various regions; RA Deputy Minister of Agriculture
Robert Makaryan presented the policy of the Ministry of Agriculture, in
terms of regulations of relations and contact among the producers and
processors; ICARE foundation director Vardan Urutyan presented and
explained the new law on agricultural cooperatives to participants; summary
of ARDI program midterm results were presented.
As well as the ACBA-Credit Agricole bank representatives presented the role
of financial system in sustainability of agricultural cooperatives and the
willingness of the bank to cooperate with the agricultural cooperatives.
The Green Lad LTD introduced their services, particularly, gardening
accessories and anti-hail systems which can be used by the cooperatives at
rather attractive terms.
At the end discussions were held about new infrastructural project ideas to
be implemented by the program next year.
Gohar Palyan
Program Coordinator
Fuller Center for Housing Armenia (ARDI program)
59 Komitas Ave.,
Yerevan 0051, Armenia
email: [email protected]
Office phone: + 374 10 20 43 90Leave a comment:
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Re: Armenia's Economic Pulse
EXPERT: DESERT PLANTS FOUND IN ARARAT VALLEY
by Karina Manukyan
Tuesday, March 22, 17:00
One can already find desert plants in the Ararat Valley, Knarik
Hovhannisyan, expert on water resources, said at a press conference
on March 22.
Several years ago, the Armenian Ministry of Nature Protection permitted
fish farms to use 1.496 billion cu m, though the restorable stock of
the underground water resources is 1.226 bln cu m. As a result, 122
out of the 638 artesian wells of the Ararat Valley have dried out,
with 6,200 ha of lands remaining almost without water.
Hovhannisyan said that although certain steps are being taken to
stabilize the situation (for instance, decommissioning of illegal
artesian wells), the general situation in the Ararat Valley is far
from being perfect.
"Over the past two years, some desert plant species have been found
here," she said.
The expert also stressed that the water supply and irrigation systems
of the republic experience big losses. Meanwhile, the relevant
structures do not hurry to radically change the current situation.
Hovhannisyan noted that some regions experience shortage of irrigation
water and the local residents have to irrigate the orchards with
sewage water.
Earlier, USAID announced the launch of the Advanced Science and
Partnerships for Integrated Resource Development Project (ASPIRED)
- a three-year initiative designed to curb the rate of groundwater
abstraction in the Ararat Valley to sustainable levels.
The decreasing level of the groundwater supply and the uncontrolled
use of artesian water by fish farms have left some 30 communities in
the Ararat and Armavir marzes without reliable access to drinking or
irrigation water, USAID Armenia Mission Director Karen Hilliard said.
In addition, these water shortages pose a real threat to the country's
agricultural sector, the socio-economic and environmental well-being
of these regions, as well as the safety and security of Armenia's sole
nuclear power plant, Metsamor, which relies on these water resources
for its cooling system.
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