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Macroeconomics

publié le mercredi 6 janvier 2010

ARMENIA FACED 16% ECONOMIC SLUMP IN JANUARY-NOVEMBER 2009
/DEC 21/PanARMENIAN.Net/
In January-November 2009, Armenia faced 16% economic slump. According to official data, GDP volume in the same period went up to AMD 2.79 trillion, with the monthly rate of downfall making up 6.6%.
The highest rate of economic slump was fixed in spheres construction (38.4%), industrial production (9.9%) and agriculture (9.9%), as well as in services sector (2.5%).
Inflation rate in the above period made up 3.1% compared to the same period of 2008. In the meantime, monthly inflation rate comprised 1.2%.

AVERAGE SALARY IN RA TOTALS AMD 98992 IN JANUARY-NOVEMBER 2009
/DEC 21/PanARMENIAN.Net/

ARMENIA’S FOREIGN TRADE TURNOVER DECREASED BY 28.5 PER CENT OVER JANUARY-NOVEMBER
/DEC 21/PanARMENIAN.Net/
Over January-November this year exports declined by 37.4 per cent compared to the same period of previous year and reached AMD 228.7 billion, while imports decreased by 26.3 per cent amounting to AMD 1 trillion 74.1 billion.

RETAIL TRADE TURNOVER IN ARMENIA GROWS TO AMD 897.9 BILLION IN JAN-NOV 2009
/DEC 21/ARKA/

GURGEN SARGSYAN : THERE HAVE BEEN SERIOUS ACHIEVEMENTS IN THE FIELD OF TRANSPORT AND COMMUNICATION
/DEC 21/"Radiolur"/Sona Hakobyan/
Summing up the results of the passing year, the Minister of Transport of Armenia, Gurgen Sargsyan attached special importance to the threeroad-construction programs financed by the state budget, the Asian Development Bank and the World Bank.
All in all, 418 km roads have been reconstructed this year, 39.8 billion AMD has been spent. The Minister attached special importance to the construction of the North-South highway. The first stage of the project will be launched in spring 2010.
According to the Minister, serious achievements have been registered in the field of communication, as well - the third cell operator has entered the Armenian market. "All three cell operators are among the top ten tax-payers of the republic," the Minister informed.

EXPERT : ARMENIA’S FOREIGN DEBT IS EXPECTED TO CONSTITUTE 40% OF GDP IN 2010
/DEC 22/ARKA/
Gagik Minasyan, head of Armenian National Assembly’s finance and budget committee, said at a press conference that "This result is far from the 2008 situation, when Armenia’s foreign debt was 13% of GDP. But this situation is common for all countries."
The lawmaker said that amid the global recession, Armenia, like other countries, had no other option but to enlarge its debt burden.

IMF PREDICTS SIX-PERCENT BUDGET DEFICIT TO ARMENIA FOR 2010
/DEC 22/ARKA/

IMF WELCOMES ARMENIAN CENTRAL BANKS’ TIME-TO-TIME INTERVENTIONS
/DEC 22/ARKA/

ELECTRONIC DOCUMENT TURNOVER SYSTEM FOR ARMENIAN TAX PAYERS TO BE INTRODUCED IN 2010
/DEC 23/PanARMENIAN.Net/

ARMENIAN GOVERNMENT APPROVES A SET OF BILLS FOR SHIFTING TO UNIFIED TAXATION SYSTEM
/DEC 24/ARKA/
The government of Armenia has approved today a set of bills designed to change gradually taxation of some goods, which were levied fixed taxes. Under the proposed changes their taxation will be moved into the general taxation field.
Finance minister Tigran Davtian said these goods are petrol, diesel fuel and cigarettes which pay fixed taxes, including VAT, excise tax and customs due.

TAX BURDEN FACILITATION FOR M&S BUSINESS ENTITIES ALLOWED FOR THEIR RESISTIBILITY INCREASE IN 2009
/DEC 25/PanARMENIAN.Net/
In crisis and facilitated tax burden circumstances, 32 000 M&S business entities in Armenia failed to pay taxes to the total amount of AMD 24 billion. "Tax burden facilitation for M&S business entities allowed for their resistibility increase in 2009," he emphasized.
Besides, around AMD 20 billion overpayments are returned to private sector, to improve their financial situation, the Premier noted.

ARMENIA’S FOREIGN DEBT NOT HEAVY BURDEN : RA PREMIER
/DEC 25/news.am/
Armenian government does not consider threat of foreign debt repayment priority, RA Prime Minister Tigran Sargsyan said at the Dec.25 press conference, asked about hazard related to the settlement of huge foreign debts incurred by RA Government.
According to him, presently the country’s quality on debt repayment is high and it is not a heavy burden on Armenia. This year Armenia incurred over $2bn from Russia and international organizations, thus RA state debt approached 40% of GDP.
Sargsyan considers that credit funds allocated to Armenia in 2009 can be divided into two groups. First, purpose-oriented credits directed to substructures to be covered by budget means. Second, the state subsidies earmarked to businesses. In this case, the repayment burden falls on business entities, making a part of the state foreign debt.

ACCORDING TO PRIME MINISTER, IN 2009 ARMENIAN GOVERNMENT CHOSE EFFICIENT AND CORRECT ANTI-CRISIS STRATEGY
/DEC 25/NOYAN TAPAN/
"Some time is needed to summarize the results of 2009 in order to form an in-depth opinion about what challenges face us. However, it is already obvious that the year 2009 was full of difficulties and ordeals, and our young state demonstrated that we can overcome such disasters with the least losses," Prime Minister Tigran Sargsyan stated at the press conference held on December 25 to finalize the results of this year.
In his words, the global financial and economic crisis revealed the weaknesses of our economy. As for the anti-crisis strategy of the government, the prime minister said that cooperation with the World Bank, the International Monetary Fund and other international organizations shows that the government has chosen an efficient and correct strategy. In particular, expenditures grew by about 900 billion drams which stimulated the development of some sectors of the economy.
In 2009 pensions increased by 16%, salaries in the state and private sectors rose by 11%, and 3 thousand jobs were created. Large-scale construction work was done in the earthquake zone, with 415 km of rural and republican roads and 300 km of water pipes built. 500 km of water pipes will be laid in 2010.
At least a 3.5% growth is expected in the information technology sector in 2009. "We give priority to the IT sector in terms of economic diversification, and it is extremely important that under conditions of the crisis it stood the test and strengthened its position," T. Sargsyan underlined.
According to him, favorable conditions have been created for small and medium business as well. As a result, 32 thousand entities enjoyed VAT privileges by not paying taxes of 24 billion drams. Besides, excess payments of 20 billion drams were refunded to the private sector, which helped improve its financial position.
The prime minister said Armenia is the only state whose banking system was prepared for the crisis : it has not rendered any assistance to the commercial banks which have managed to overcome difficulties on their own. In his words, deposits of citizens grew by over 30%this year, which bears evidence of the population’s increased trust in the banking system.

ARMENIA ENDS 2009 WITH 5.5% INFLATION
/DEC 29/ARKA/

ARMENIAN BUDGET EXPENDITURES EXCEED AMD 900 BILLION IN 2009
/DEC 29/PanARMENIAN.Net/
Armenian budget expenditures will exceed AMD 900 billion in 2009, surpassing the last year’s index with AMD 100 billion.
The crisis required extra efforts, however in 2009 all budgetary commitments have been fully met. "The overall situation during the year was hard, but we managed to fulfill all social obligations, not accumulate debts and now continue to execute all budgeted expenses," said the Minister of Finance.
In 2009 the budget was replenished with AMD 520 billon tax payments, less than in 2008, but more than in 2007, Tigran Davtyan said.
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