‘Economy & Finance’ Archives
Ameriabank offers services of purchase order financing and classical factoring
“Ameriabank” announced today launch of purchase order financing and classical factoring services’ provision without the necessity of a deposit. Mediamax reports that, while presenting the new services of the bank in Yerevan today, Corporate Customer Line Director of the Bank Levon Arevshatyan stated that purchase order financing implies [...]
The volume of overdue credits in the banking system of Armenia reduced by 19.4% in a month
Credit portfolio of Armenian banks in the end of July, 2010, made 817bln 433mln AMD, increasing by 1.46% or by 11bln 796mln AMD, as compared to June As Mediamax was informed in the National Statistical Service of Armenia, the volume of credits, provided by banks in foreign currency, as of the end of July made 426bln 376mln AMD, and in national [...]
GDP growth made 3.1% in Armenia in January-August
In January-August, 2010, Armenian GDP increased by 3.1%, as compared to the same period of 2009. As Mediamax was informed in the National Statistical Service of Armenia today, GDP volume in January-August made 2 trillion 42bln 788.8mln AMD. Speeds of GDP growth in Armenia since June continue slowing down: in January-May, 2010, the economy [...]
Armenian government starts discussion of the state budget for 2011
On September 6, the Armenian government will start discussion of the text part of the draft state budget for 2011. As Armenian Minister of Finance Tigran Davtyan stated at the session today, the state budget 2011 is based on the medium-term program of government expenses. Tigran Davtyan asked all Ministries and Departments to present the [...]
Armenian state budget revenues increased by 22.2% in January-July, 2010
Incomes of Armenian state budget increased by 22.2% in January-July, 2010, as compared to the analogous period of 2009, making 438.8bln AMD Mediamax was informed in the press service of Armenian Ministry of Finance that the expenditure part of the state budget increased by 8.7%, as compared to the same period of 2009, making 463.5bln AMD. [...]
Armenian government hopes that pension reforms will lead to reduction of shadow economy
Armenian government hopes that with the transition of the country to compulsory accumulative pension system, the level of shadow economy will start cutting down, Head of Financial Market Development Department of Armenian Ministry of Finance Karen Tamazyan stated in Yerevan today. According to him, they expect that with the transition to [...]
Armenian government to issue CB with state guarantees in the amount of 20mln EUR
The government of Armenia made a decision today to issue state credit guarantees to the Central Bank in the amount of 20mln EUR. Finance Minister of Armenia Tigran Davtyan informed today that the guarantee is issued within the framework of the agreement between CB of Armenia and KfW German Bank under “Stable Development of the Dwelling [...]
Volume of money transfers in Armenia in the second quarter, 2010, increased by 8.3%
Volume of money transfers to Armenia to individuals via commercial banks made 97bln AMD (459 575 transfers) in the second quarter, 2010. Mediamax was informed in the press service of the Central Bank that in the accounting period the net inflow of money transfers by international systems of transfers made 71bln AMD. As compared to the second [...]
Armenia’s Economy Expected To Grow 8% This Year
Vardan Ayvazyan, chairman of the parliamentary economic committee, thinks Armenia’s economy is expected to grow at least 8% this year thanks to the growing world prices, particularly for mining industry’s products. As a result, Armenia’s mining industry will rally spurring also economic growth as a whole. Explaining the current slowdown [...]
Armenia’s foreign debt to reach U.S. $4bn by 2013
On July 8, the RA Government first approved a strategic program of national debt control for 2011-2013. Under the program, Armenia’s foreign debt is to reach U.S. $4bn by 2013 against the present U.S. $3bn. Last year, Armenia’s foreign debt considerably increased as compared with previous years. Specifically, the foreign debt/GDP ratio made [...]
