Armenian Economic News
LOWEST WAGES IN ARMENIA
news.am
Sept 22 2010
By September 1, 2010, the average monthly wages in Armenia had reached
105,600 AMD (about U.S. $283), the Statistical Service of Armenia
reports. The average monthly wages decreased by 7.7% as compared with
last month. The average monthly wage is 572.7 lari (about U.S. $318)
in Georgia, and 317.4 manat (U.S. $396) in Azerbaijan. In Russia,
the average monthly wages are 15,200 roubles (about U.S. $490) - a 2%
decrease as compared with 2008, reported the Russian Federation of
Independent Trade Unions.
The average monthly pension is U.S. $48 in Georgia, about U.S. $60
in Armenia, about U.S. $110 in Azerbaijan and U.S. 230 in Russia.
news.am
Sept 22 2010
By September 1, 2010, the average monthly wages in Armenia had reached
105,600 AMD (about U.S. $283), the Statistical Service of Armenia
reports. The average monthly wages decreased by 7.7% as compared with
last month. The average monthly wage is 572.7 lari (about U.S. $318)
in Georgia, and 317.4 manat (U.S. $396) in Azerbaijan. In Russia,
the average monthly wages are 15,200 roubles (about U.S. $490) - a 2%
decrease as compared with 2008, reported the Russian Federation of
Independent Trade Unions.
The average monthly pension is U.S. $48 in Georgia, about U.S. $60
in Armenia, about U.S. $110 in Azerbaijan and U.S. 230 in Russia.
ARMENIA'S ECONOMIC GROWTH SLOWS
news.am
Sept 22 2010
According to Armenian National Statistical Service, GDP growth rate in
Armenia made 3.1% in the January-August period of 2010. The economic
growth in the country is still slow.
The GDP in Armenia peaked in May, making 8.8%. The Armenian authorities
explain the economic downturn by 18% decline in the agricultural
sector. For the first time, a fall was registered in the construction
sector - 2.4%. The economic growth was preserved due to the industrial
growth, totaling 11.5%.
According to forecast of the Armenian budget, annual GDP growth is
to total 1.2%.
ARMENIA'S FOREIGN TRADE BALANCE UNHEALTHY
news.am
Sept 22 2010
This January-August, Armenia's exports totaled U.S. $600m, and imports
U.S. $2.3bn, reported the Statistical Service of Armenia.
The unfavorable foreign trade balance reached U.S. $.1.76bn. and
constituted 32.7% of GDP. In this respect, Armenia is the "leader"
in the CIS and West Europe.
The increased unfavorable foreign trade balance proves Armenia failed
to overcome the economic crisis, and the Government's efforts to
boost local production failed to produce the desired results.
TWO COMPANIES DOMINATE ARMENIA'S DAIRY MARKET
news.am
Sept 22 2010
The Commission for Protection of Economic Competition of Armenia
conducted a survey of the country's dairy market and found companies
dominating the market.
The Commission decided to enter the companies' names in the relevant
register. The following companies are dominating the long-life and
pasteurized milk market: Dustr Marianna, Ashtarak-Kat and Chanakh,
their market share being 69.4%. Dustr Marianna and Ashtarak-Kat
are dominating the sour cream market, their share being 85.1%. The
following three companies are dominating the ice-cream market: Tamara,
Ashtarak Kat and Grand Candy, there market share being 67%. The
Ashtarak Kat Company has until recently dominated the ice-cream market.
Dustr Marianna, Ashtarak-Kat and Chanakh were also found dominating the
matsoun (fermented milk) market, their share being 74.4%. Ashtarak Kat,
Art Wine and Brand Leader were found dominating the yoghurt market
(78.9%).
The following companies are dominating the kefir market: Dustr
Marianna, Ashtarak-Kat and Bio Kat (88%).
Dustr Marianna, Ashtarak-Kat and Chanakh are also dominating
Armenia's curds market now, their share being 86.8%. Dustr Marianna
and Ashtarak-Kat are dominating the curds cake market as well (96.2%).
ECONOMIC FREEDOMS IN ARMENIA HAVE DETERIORATED FOR
2 POINTS: FRASER INSTITUTE
Tert.am
23.09.10
Leading Canadian think tank Fraser Institute has released its annual
report on economic freedoms of 141 states across the world.
Armenia's positions have deteriorated for two points. In the previous
report Armenia was the 48th in the list but now it is the 50th.
Georgia has dramatically improved its positions (by 20 points) in
terms of economic freedoms. In the 2009 report Georgia was the 43rd
country, but now it is the 23rd in the list.
Turkey, Azerbaijan and Iran are far behind Armenia. Turkey is the 74,
Azerbaijan is the 93 and Iran is the 107th in the list prepared by
Canadian specialists.
The analysis is based on such parameters as size of the government,
legal system and property rights, sound money, and freedom to trade
internationally, regulation, credit market regulation, labor market
regulation and business regulations.
The picture in the European countries is as follows: Untied Kingdom
(10), Estonia (12), Denmark (14), Austria (15), Cyprus (20), Germany
(24), Hungary (28), Serbia (97), Moldova (87), Croatia (87), Macedonia
(72).
Among CIS countries Russia is the 84th, while Ukraine is the 127th.
The top five includes Hong Kong (1), Singapore (2), New Zealand (3),
Switzerland (4) and Chile (5).
Tert.am
23.09.10
Leading Canadian think tank Fraser Institute has released its annual
report on economic freedoms of 141 states across the world.
Armenia's positions have deteriorated for two points. In the previous
report Armenia was the 48th in the list but now it is the 50th.
Georgia has dramatically improved its positions (by 20 points) in
terms of economic freedoms. In the 2009 report Georgia was the 43rd
country, but now it is the 23rd in the list.
Turkey, Azerbaijan and Iran are far behind Armenia. Turkey is the 74,
Azerbaijan is the 93 and Iran is the 107th in the list prepared by
Canadian specialists.
The analysis is based on such parameters as size of the government,
legal system and property rights, sound money, and freedom to trade
internationally, regulation, credit market regulation, labor market
regulation and business regulations.
The picture in the European countries is as follows: Untied Kingdom
(10), Estonia (12), Denmark (14), Austria (15), Cyprus (20), Germany
(24), Hungary (28), Serbia (97), Moldova (87), Croatia (87), Macedonia
(72).
Among CIS countries Russia is the 84th, while Ukraine is the 127th.
The top five includes Hong Kong (1), Singapore (2), New Zealand (3),
Switzerland (4) and Chile (5).
armenianow.com
BEST "CITY OF THE WORLD": ARMENIAN PAVILION AT
SHANGHAI-EXPO WINS GRAND PRIX
23.09.10
Prime Minister Tigran Sargsyan, Shanghei Expo-2010, China
Armenia celebrated its National Pavilion Day on Tuesday at Shanghai
Expo 2010 with the official unveiling of its pavilion titled, "City
of the World."
Attended by Armenian Prime Minister Tigran Sargsyan, the event came
on the 19th anniversary of Armenia's independence from the Soviet
Union and featured a special performance titled "Armenia: The Art
of Creation".
According to official statistics from Shanghai Expo, more than 20,000
people visit the Armenian Pavilion daily. So far 2 million, out of
more than 53 million people who have visited the Expo, have been to
the Armenian pavilion.
According to the Shanghai Expo 2010 website, the pavilion invited
architects around the world to submit designs for their 'ideal city'.
"Armenia calls itself the motherland of the apricot and the pavilion
features an Apricot Garden. Visitors can taste various delicacies,
while listening to music of a flute made from apricot wood. The
'Gold and Silk' exhibition covers China-Armenia trade history,"
reports the Shanghai Expo website.
The "Expo-Shanghai Online Bureau" granted the Grand Prix to the
Armenian Pavilion for excellent organization and presentation. The
virtual pavilion also won a silver medal for best technological
solutions and best implementation.
23.09.10
Prime Minister Tigran Sargsyan, Shanghei Expo-2010, China
Armenia celebrated its National Pavilion Day on Tuesday at Shanghai
Expo 2010 with the official unveiling of its pavilion titled, "City
of the World."
Attended by Armenian Prime Minister Tigran Sargsyan, the event came
on the 19th anniversary of Armenia's independence from the Soviet
Union and featured a special performance titled "Armenia: The Art
of Creation".
According to official statistics from Shanghai Expo, more than 20,000
people visit the Armenian Pavilion daily. So far 2 million, out of
more than 53 million people who have visited the Expo, have been to
the Armenian pavilion.
According to the Shanghai Expo 2010 website, the pavilion invited
architects around the world to submit designs for their 'ideal city'.
"Armenia calls itself the motherland of the apricot and the pavilion
features an Apricot Garden. Visitors can taste various delicacies,
while listening to music of a flute made from apricot wood. The
'Gold and Silk' exhibition covers China-Armenia trade history,"
reports the Shanghai Expo website.
The "Expo-Shanghai Online Bureau" granted the Grand Prix to the
Armenian Pavilion for excellent organization and presentation. The
virtual pavilion also won a silver medal for best technological
solutions and best implementation.
ECONOMIC CONCERNS: ECONOMIST WARNS OF PRICE HIKES
Siranuysh Gevorgyan
ArmeniaNow
Manaseryan spoke on price hike and alarming issues of the current
economic development.
Deputy National Assembly , economist Tatul Manaseryan, said today that
he is concerned about the recent economic developments in Armenia,
pointing out the indexes of economic growth registered in Armenia
during the first eight months of this year.
"We had an 8.8 percent economic growth during the first five months,
and a serious regress was registered during the next two months,
which should be alarming for all of us," Manaseryan says.
The regress led to a sharp decline of the growth index down to 3.1
percent (according to data of the National Statistical Service of
Armenia) during the first eight months of this year.
Manaseryan is most of all concerned about the decline in agricultural.
According to the economist, a policy must be developed in the
agricultural sector, which would reduce price fluctuations. Bringing
potato as an example he said: "Last year, because of excessive
production, the minimum price per kilo of potato was 25 drams (7
cents), this year it is ten times more expensive."
Chairman of the Standing Committee on Economic Affairs of the National
Assembly Vardan Ayvazyan told journalists at a press conference
Thursday that currently all the necessary measures are taken to
suppress price hikes in Armenia.
"If there were no such measures, the price hike would have been
even greater. The current price hike in Armenia is mainly the 'gift'
presented by the foreign market; and I do not think it is caused by
monopolies in the market," Ayvazyan says.
economic development.
Deputy National Assembly , economist Tatul Manaseryan, said today that
he is concerned about the recent economic developments in Armenia,
pointing out the indexes of economic growth registered in Armenia
during the first eight months of this year.
"We had an 8.8 percent economic growth during the first five months,
and a serious regress was registered during the next two months,
which should be alarming for all of us," Manaseryan says.
The regress led to a sharp decline of the growth index down to 3.1
percent (according to data of the National Statistical Service of
Armenia) during the first eight months of this year.
Manaseryan is most of all concerned about the decline in agricultural.
According to the economist, a policy must be developed in the
agricultural sector, which would reduce price fluctuations. Bringing
potato as an example he said: "Last year, because of excessive
production, the minimum price per kilo of potato was 25 drams (7
cents), this year it is ten times more expensive."
Chairman of the Standing Committee on Economic Affairs of the National
Assembly Vardan Ayvazyan told journalists at a press conference
Thursday that currently all the necessary measures are taken to
suppress price hikes in Armenia.
"If there were no such measures, the price hike would have been
even greater. The current price hike in Armenia is mainly the 'gift'
presented by the foreign market; and I do not think it is caused by
monopolies in the market," Ayvazyan says.
INFLATION RATE EXCEEDS PLANNED INDEX IN ARMENIA
Aysor
sept 23 2010
A 7.7 percent inflation rate is recorded in Armenia exceeding the
index stipulated by the law On State Budget, Chairman of the National
Assembly Standing Committee on Financial-Credit, Budgetary and
Economic Affairs Gagik Minasyan told a news conference.Aysor
sept 23 2010
A 7.7 percent inflation rate is recorded in Armenia exceeding the
index stipulated by the law On State Budget, Chairman of the National
Assembly Standing Committee on Financial-Credit, Budgetary and
Meanwhile Minasyan positively assessed GDP index over the first 8
months of 2010.
According to him, unfavorable agricultural year, problems in domestic
markets, particularly, in grain market, resulted in rise in inflation.
The expert said that during the year CBA used mechanisms to suppress
the inflation, otherwise inflation rate would have been much higher.
He noted that inflation rate will approach the planned index by the
end of the year.
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