By Eva Sahakyan YEREVAN, August 28 — The International Finance Corporation (IFC) managed to increase investment rates in the Republic of Armenia from $5 million to $35 million in 2010, which, according to Lars Thunnell, the IFC executive Vice President and CEO, is a rather significant growth. “Our aim is not only to keep this [...]
By Eva Sahakyan YEREVAN, August 27 — Armenia will receive about $53 million from the International Fund for Agricultural Development (IFAD), Alexander Kalantarian, specialist on foreign relations of the coordinating office of IFAD-Armenia joint programs, informed the Armenian news agency ARKA. The funds will be used for the restoration of agricultural infrastructures and for the [...]
YEREVAN, August 25–As of the end of the second quarter of 2010, 20 commercial banks of the Republic of Armenia issued and serviced credit cards, 19 out of which were members of one uniform payment system, ArCA. According to the press center of the Central Bank of Armenia, at the end of the second quarter [...]
By Victoria Vardanyan YEREVAN, August 23– The GDP in Armenia increased by 4 percent in January- July compared with the same period last year, reports the National Statistical Service of the Republic. According to statistics, in January-July compared with the same period in 2009 an increase of 7.4 percent in consumer prices was fixated. At [...]
By Alexander Tagvoryan YEREVAN, August 19–According to the national statistics service of the Nagorno Karabakh Republic (Artsakh), a 0.3 percent drop in prices were registered there this July as compared to June. The prices for foodstuffs in Artsakh (including alcoholic beverages and tobacco products) decreased by 0.3 percent, and the prices for non-food products decreased by [...]
By Alexander Tagvoryan YEREVAN, August 18–The grape harvest is expected to be of a very good quality this year, says the Chairman of the Union of Winemakers of Armenia Avak Harutyunyan. This year’s harvest is going to be about 20-30 percent more than the last year’s. “Unlike the other crops, the grape harvest this year [...]
By Eva Sahakyan YEREVAN, August 13–Price deflation amounted to 0.8 percent in July 2010 compared to June 2010, according to the Armenian National Statistics Service. But on an annual basis inflation rates grew, amounting to 7.8 percent. According to Vache Gabrielian, the vice-chairman of the Armenian Central Bank, the numbers are quite real. “We can always talk [...]
By Adonia Agayan YEREVAN, August 13 — “The Armenian real estate market is gradually developing,” Ashot Musayan, Armenia’s Deputy Chairman of Cadastre State Committee of Real Estate, said. “I can’t say what will happen in the future. Nevertheless, compared with 2008 in 2010 definite development is seen,” Musayan said. He didn’t specify the volume of [...]
By Eva Sahakyan YEREVAN, August 13–The Armenian Ministry of Economy and the Artsakh (Nagorno-Karabakh) Ministry of Economic Development will sign a Memorandum of Understanding in Stepanakert. The document will be signed in the framework of the three day visit of the Armenian delegation to Artsakh. The Deputy Minister of Economy Vahe Danielian, the Deputy Head [...]
By Eva Sahakyan YEREVAN, August 10–The Armenian Diaspora has great potential for the development of tourism in Armenia, the Armenian Prime Minister Tigran Sarkisian said in his interview to National Geographic Traveler. He mentioned that for the last ten years the number of tourists visiting Armenia has greatly increased and a large number of tourists [...]
