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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    Armenia’s consumer prices fell by 0.8% in May

    YEREVAN, May 31. /ARKA/. Consumer prices dropped by 0.8% in Armenia in May compared to the month before, mainly due to 1.4% decrease in food prices (including tobacco and spiritual drinks), ArmStat reported.

    Prices for nonfoods rose by 0.3% and service prices fell by 0.2% in May, according to the report.

    Consumer price index was 103.6% this May against the same period of the year before. Index for food prices (including for tobacco and alcoholic drinks) was 101.9%, for nonfoods – 102% and for services – 107.8%.

    Planned inflation level is 4% (±1.5%) under the 2014 budget.

    - See more at: http://arka.am/en/news/economy/armen....aDb67dMk.dpuf
    <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

    Comment


    • Re: Armenia's Economic Pulse

      IRAN SEEKING FUNDS FOR CONSTRUCTION OF ANOTHER JOINT ELECTRIC MAIN WITH ARMENIA

      YEREVAN, June 3. /ARKA/. Iran will find funds for construction of
      the third Iran-Armenia electric main in the near future to ensure
      delivery of Armenian electricity to Iran in exchange for gas supplied
      to Yerevan Heat Power Plant, Armenian deputy minister of energy and
      natural resources Ara Simonyan said.

      The delay in implementation of the project occurred due to the
      situation around Iran and economic problems, as well as because of
      the difficulties in transferring money between the two banking systems
      due to sanctions over Iran, the deputy minister said.

      "It looks like both problems are already overcome, and the newly
      appointed minister of energy Yervand Zakharyan is expected to visit
      Iran in the next month. We would also like to have a complex discussion
      about the issue at the meeting of Armenian-Iranian intergovernmental
      commission', Simonyan said at a 2013 budget execution hearing in
      the parliament.

      The deputy minister expressed hopes the forthcoming visit will help
      solve the funding problem. At least, Iran's willingness to do it is
      obvious, he said.

      Simonyan also said the total cost of the project is 107.9 million
      euros, including 27.5 million euros to be provided by the Armenian
      side.

      The deputy minister stressed the construction of the third Iran-Armenia
      electrical transmission line is an important regional cooperation
      project in energy sector. So is the construction of an electric main
      toward Georgia, with KfW having provided 75 million euros in loan
      and a grant worth 2 million for the project, Simonyan said.

      The construction of the electric main from Iran to Armenia is
      implemented by Sanir Iranian company that was granted tax and customs
      privileges by the Armenian government. The construction will be funded
      by the Export Development Bank of Iran. -0--
      Hayastan or Bust.

      Comment


      • Re: Armenia's Economic Pulse

        MAHAN AIR ADDS ARMENIA TO ITS NETWORK

        Anna-Aero
        June 4 2014

        Over 100 VIP guests including high ranking officials from the Armenian
        Civil Aviation, Yerevan Airport and travel trade professionals were on
        hand to celebrate the opening of Mahan Air's new route between Tehran
        and Yerevan. The first inbound flight operated with a 100% load factor.

        Mahan Air has started thrice-weekly flights between Tehran (IKA) and
        Yerevan (EVN) on 1 June. Operated by the airline's 185-seat A310s,
        the 793-kilometre sector will see Mahan Air face competition from
        incumbent Iran Aseman Airlines, with its four times weekly operation.

        "We strongly believe that the convenience of our non-stop flights
        from Tehran together with the connectivity options to the Middle East
        and Far East destinations will further facilitate a great boost for
        business and leisure visitors between our two countries of Iran and
        Armenia," said Hossein Hosseini, Director of Marketing and Route
        Development at Mahan Air.

        http://www.anna.aero/2014/06/04/maha...menia-network/
        Hayastan or Bust.

        Comment


        • Re: Armenia's Economic Pulse

          ARMENIA AND RUSSIA ASSISTING GEORGIA

          The Messenger, Georgia
          June 9 2014

          By Messenger Staff
          Monday, June 9
          Georgia is carrying out serious rehabilitation work to reconstruct
          the main highway which was damaged in Dariali gorge due to the May
          17 landslide.

          The disaster has led to the deaths of several people, as well as to
          the destruction of the road and infrastructure.

          The Georgian side has been working hard since May 17. The rescue
          operation was carried out and the rehabilitation efforts are underway,
          apart from human losses the country suffered serious economic loss
          as well.

          The restricted movement on the road has caused serious damage to
          businesses not only in Georgia, but in Russia and Armenia as well.

          Larsi checkpoint near the Dariali gorge is the only land connection
          of Armenia to its strategic partner Russia.

          Armenian leadership has contacted the Russian government to discuss
          the possibility of assisting Georgia in the reconstruction of the
          damaged highway, as this negatively influences the trade turnover
          capacity between the two countries. It was suggested to Georgian
          authorities that Armenia and Russia were ready to participate in
          the reconstruction efforts. First the Russian side will create a
          working team to study the situation on the ground and prepare the
          recommendations for further steps.

          http://www.messenger.com.ge/issues/3..._econ_one.html
          Hayastan or Bust.

          Comment


          • Re: Armenia's Economic Pulse

            ARMENIA JOINS TOP TEN EMERGING MARKETS FOR RETAILERS: AZERBAIJAN IS ON LAST PLACE

            19:28 30/06/2014 >> ECONOMY

            According to Global Retail Development Index Armenia is among the
            top ten emerging markets for retailers. The study is posted on the
            international organization "A.T. Kearney."

            This year Armenia is on the second place, ceding only to Chile,
            China, Uruguay, the United Arab Emirates and Brazil. Azerbaijan has
            registered the worst rate, it is ceding such countries as Botswana,
            Morocco, Namibia and Vietnam.

            Georgia lags behind Armenia by one position and is on the seventh
            place. Kuwait, Malaysia and Kazakhstan are also among the top ten
            countries.

            Overall, the study includes 30 developing countries. The political
            risks, population, market saturation and retail sales are assessed.

            It is noted that Armenia's GDP is increasing rapidly, which along
            with the weak market saturation makes the country more attractive to
            retailers. In addition, the government is taking measures to attract
            foreign companies. Some Western retailers have already started to
            explore the Armenian market, the document reads.

            Source: Panorama.am
            Hayastan or Bust.

            Comment


            • Re: Armenia's Economic Pulse

              Originally posted by Haykakan View Post
              ARMENIA JOINS TOP TEN EMERGING MARKETS FOR RETAILERS: AZERBAIJAN IS ON LAST PLACE

              19:28 30/06/2014 >> ECONOMY

              According to Global Retail Development Index Armenia is among the
              top ten emerging markets for retailers. The study is posted on the
              international organization "A.T. Kearney."

              This year Armenia is on the second place, ceding only to Chile,
              China, Uruguay, the United Arab Emirates and Brazil. Azerbaijan has
              registered the worst rate, it is ceding such countries as Botswana,
              Morocco, Namibia and Vietnam.

              Georgia lags behind Armenia by one position and is on the seventh
              place. Kuwait, Malaysia and Kazakhstan are also among the top ten
              countries.

              Overall, the study includes 30 developing countries. The political
              risks, population, market saturation and retail sales are assessed.

              It is noted that Armenia's GDP is increasing rapidly, which along
              with the weak market saturation makes the country more attractive to
              retailers. In addition, the government is taking measures to attract
              foreign companies. Some Western retailers have already started to
              explore the Armenian market, the document reads.

              Source: Panorama.am


              I think the person who wrote this article cannot differentiate his arse from his elbow.

              A country in which 30 to 40 % of the people live below the poverty line, that is Armenian poverty criteria,
              to talk about retail boom is a destructive criteria not something to look forward to.

              A healthy Retail boom happens when there is full employment the people are confident etc.etc

              Only yesterday there were demonstration about the rise in the price electricity and complaints as to how the poor will manage to pay.

              Compounding that we are now apparently importing electricity from Georgia.
              Considering that we were exporters of electricity, shows how the rot is taking its destructive course.


              .
              Last edited by londontsi; 07-01-2014, 10:48 PM.
              Politics is not about the pursuit of morality nor what's right or wrong
              Its about self interest at personal and national level often at odds with the above.
              Great politicians pursue the National interest and small politicians personal interests

              Comment


              • Re: Armenia's Economic Pulse

                Originally posted by londontsi View Post
                I think the person who wrote this article cannot differentiate his arse from his elbow.

                A country in which 30 to 40 % of the people live below the poverty line, that is Armenian poverty criteria,
                to talk about retail boom is a destructive criteria not something to look forward to.

                A healthy Retail boom happens when there is full employment the people are confident etc.etc

                Only yesterday there were demonstration about the rise in the price electricity and complaints as to how the poor will manage to pay.

                Compounding that we are now apparently importing electricity from Georgia.
                Considering that we were exporters of electricity, shows how the rot is taking its destructive course.


                .


                We need industrial ( and agricultural ) growth not retail boom.

                .
                Politics is not about the pursuit of morality nor what's right or wrong
                Its about self interest at personal and national level often at odds with the above.
                Great politicians pursue the National interest and small politicians personal interests

                Comment


                • Re: Armenia's Economic Pulse

                  Originally posted by londontsi View Post
                  We need industrial ( and agricultural ) growth not retail boom.

                  .
                  Retail boom makes sense when you consider Armenia has thriving tourism industry plus there is an Armenian disease called "i have to have that brand named thing". The retail sector does provide jobs and opportunities so it is a good thing. It does not provide as many good paying jobs as industrial jobs would but it is still a good thing not a bad thing. There is no good reason to take positive news and to put a negative spin on it.
                  Hayastan or Bust.

                  Comment


                  • Re: Armenia's Economic Pulse

                    SOLAR POWER NOT TOO DEAR FOR FAR-SIGHTED INVESTORS - OPINION

                    10:19 * 02.07.14

                    Investments in solar energy projects are not absolutely too dear
                    against the backdrop of the surge in natural gas and electricity
                    prices, says the chief of an Armenian company engaged in the production
                    of alternative power.

                    Artin Melikyan, who heads the closed joint-stock company Solar,
                    says he believes investments in alternative energy production will
                    fully meet all expectations in about six or seven years' time. "What
                    now seems dear is very relative, so I don't think it is an expensive
                    pleasure for a far-sighted client. Expensiveness is very relative
                    given the surge in the natural gas and electric power [prices], and
                    all the risks stemming from our status as an energy importer. And the
                    considerable increase in orders by both individuals and businessmen
                    testify to what I say," he noted.

                    Melikyan said he doesn't expect any state support to such an
                    initiative. "I don't think there will be any state assistance, because
                    don't believe the government bodies in Armenia will have that will,
                    being under the pressures of the gas-supplier and manufacturer. I
                    think it is an open secret to all that they import gas from Russia
                    and distribute electric power through networks," he said, stressing
                    the importance of investments that would help lower the costs of
                    alternative energy supplies.

                    Melikyan even brought the example of Iran which abolished the import
                    taxes for alternative energy supplies. "The solar batteries, which
                    Armenia imported at a zero tax rate until three years ago had later
                    to be imported with a 20 percent of value added tax as a result of
                    energy reforms adopted. So the price increased by 20 percent. The
                    only thing the state can do is to lower the import taxes. Secondly,
                    it can grant income tax privileges to such companies. That's to say,
                    it can lower or abolish the taxes," he noted.

                    Armenian News - Tert.am
                    Hayastan or Bust.

                    Comment


                    • Re: Armenia's Economic Pulse

                      Originally posted by Haykakan View Post
                      Retail boom makes sense when you consider Armenia has thriving tourism industry plus there is an Armenian disease called "i have to have that brand named thing".
                      Retail booms follows economic growth and reduced unemployment which results in confident population who indulge in the “luxuries” of life.
                      That is a healthy development of the economy. No sensible person would be against that.

                      Originally posted by Haykakan View Post
                      The retail sector does provide jobs and opportunities so it is a good thing. It does not provide as many good paying jobs as industrial jobs would but it is still a good thing not a bad thing.
                      There is also another Retail boom which is engineered by governments to cover for their failed economic policies. Universally.

                      It creates economic activity and an opportunity for some to have a feel good factor.

                      It works in the short term with a heavy penalty following it.

                      No different than giving giving a bottle of whisky to a drunkard so he leaves you alone.

                      Originally posted by Haykakan View Post
                      There is no good reason to take positive news and to put a negative spin on it.
                      Those imported goods have to be paid for with foreign currency. So how will they be paid for ..... more debt.

                      What did the economy gained after that .... nothing .... just a hangover
                      Politics is not about the pursuit of morality nor what's right or wrong
                      Its about self interest at personal and national level often at odds with the above.
                      Great politicians pursue the National interest and small politicians personal interests

                      Comment

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