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Armenia: making the velvet revolution work - Global Finance
... to secure the 5% of the vote needed to remain in Parliament, now dominated by Pashinian’s My Step alliance and two smaller pro-reform parties. The new government, broadly supported by President Armen Sarkissian, is losing no time reshaping both the economy and key institutions, particularly the judiciary, after years of mismanagement and corruption. Unlike most “color revolutions” in former Soviet states, Armenia’s stands a good chance of success, observers say, because conditions had simply become too untenable. “Pashinian’s revolution is a predominately positive one; because it has swept away an authoritarian,...
10/14/2019Pashinyan: Armenia can become paradise for talented people
... decentralization as well, since we consider each citizen's individual work and every initiative the citizen puts into practice not on the government's instruction, but following own decisions, goals and ambitions, as the key instrument of the economic revolution," Pashinyan said. He stressed that Armenia's economy enjoys now a 7% economic growth, and its tourism shows a considerable growth - 13%. "An impressive growth is recorded also in the export of technologic products - the average export of technological products grew 40.9% over seven months, ...
10/07/2019Pashinyan urges Armenian women not to be afraid of “reinventing” bicycle, since any thing can be done in a new way
... care, as disorganization, carelessness and sometimes untidiness reign in different parts of our country. We must promote women in all areas. This is a priority of our government,” said Pashinyan. Pashinyan said that the involvement of women in the economy, politics, public life, the government, in no way contradicts and should not contradict the traditions of the Armenian family. “Today I want to urge all women of Armenia to make their step towards economic revolution. Because I am convinced that women can be more efficient, thrifty and develop successfully in business,” Pashinyan stressed. According to him, the sense of responsibility of Armenian women is stronger than that of males; moreover, women are ...
04/26/2019Armenian government introducing a new toolkit in 2020 - Nikol Pashinyan
... international donor organizations. Addressing the audience, the premier noted that from the very first days of last year’s political revolution in Armenia, his government set an agenda of economic revolution. He singled out three main components of economic revolution. In this regard, Nikol Pashinyan said the government is introducing a new toolkit in 2020, including the proposed amendments to the Tax Code, which in their most visible sections reflect the government’s perception of the future day of the Armenian economy and development vectors. The first he said, is the introduction of a flat income tax, which has seen some criticism of ideological nature. "I want to say that the proposed legislative amendment reflects our understanding of economic trends,...
11/15/2019Minister says Armenian economic revolution has taken place
The economic revolution in Armenia is an accomplished fact, Economy Minister Tigran Khachatryan told reporters on Thursday when he was reminded of the opposition's statements that this year's economic indicators were not revolutionary at all. YEREVAN, November 28. /ARKA/. The economic revolution in Armenia ...
11/28/2019Armenian president presents investment attractiveness of his country at World Investment Forum
... was registered, saying that this year the same indicators are being recorded. He said even after major political changes, the economy has remained stable. In this regard, the president noted that Armenia has the best financial and banking sector in the ... ... space. “Our country not only has a new government, leadership or ideas, it has been renewed spiritually. I would call this revolution not only velvet, but also an Armenian-style revolution. From a development point of view, I would call the country ...
10/24/2018World Bank Group President about changes and preparations for economy of future
... poverty. This was what society looked like for virtually the entire recorded history of humanity. Throughout that history, the vast majority of people were born and died in largely the same circumstances. Then starting in the early 1800s, the industrial revolution and steam power enabled manufacturing and changed the nature of work. Technology drove down the cost of moving goods, fueling trade and economic growth that forever altered the world’s economy. For a few overall, quality of life improved tremendously, but many others were left out of the arc of progress. These disparities, which have continued – and in some cases worsened – in the past two centuries, contributed to the realization ...
05/22/2018Armenia’s banking sector and economic revolution
In February 2019, Armenian Prime Minister Nikol Pashinyan urged the local commercial banks to spur the economic revolution. Overall, banks in Armenia have been playing an important role in the development of the country's economy, and this role is growing now at a faster rate. YEREVAN, March 18. /ARKA/. In February 2019, Armenian Prime Minister Nikol Pashinyan urged the local commercial banks to spur the economic revolution. Overall, banks in Armenia have been playing ...
03/18/2019Reforms of second generation necessity in Armenia
Armenia must carry out reforms of the second generation at a very high rate, the Prorector for University Education Development, Russian-Armenia (Slavonic) University, former minister of finance and economy of Armenia, Professor Edward Sandoyan stated in YEREVAN, August 21. /ARKA/. Armenia must carry out reforms of the second generation at a very high rate, the Prorector for University Education Development, Russian-Armenia (Slavonic) University,...
08/22/2007Armenia needs a strategy to develop green economy
... interview with ARKA news agency, Gagik Makarian, the chairman of the National Union of Employers of Armenia, speaks on the prospects of its development and possible introduction of "green technologies" in Armenia. The concept of "green economy" is a relatively new and promising direction in economic science. In an exclusive interview with ARKA news agency, Gagik Makarian, the chairman of the National Union of Employers of Armenia, speaks on the prospects of its development and ...
10/18/2012Government's plan of economic activity is 100 km away from economic revolution, Tsarukyan says
... reporters in parliament on Monday. The government of Prime Minister Nikol Pashinyan had announced the start of the economic revolution on February 12 this year. Tsarukyan said that members of his party's faction in parliament hold meetings with the prime ... ... diplomas in this or that field, but haven’t worked there for a day. How can they develop their sectors? If we want to develop our economy, we need to look for professionals and to attract them, because it is necessary for the country and the economy, and not ...
09/09/2019Mnatsakanyan: Armenia is ready to contribute to regional stability
... roadmap for implementation and the implementation is underway. Europe has been a consistent, continuous participant in Armenia’s development agenda—in the development of its institutions, in the development of the state, and in the development of its economy. Since the Velvet Revolution in 2018, we have been in very intensive and extensive political and economic engagement with the EU. As part of this process, we would like to see a visa liberalization dialogue with the EU that will lead to an agreement. Today, we have the ...
07/31/2019Ambassador: Germany is ready to cooperate with Armenia in the sphere of “green economy”
Germany is ready to cooperate with Armenia in the issues of support to the development of “Green economy” in the country, said Ambassador of Germany in Armenia Hans-Jochen Schmidt in the conference on the topic “Green economy”. YEREVAN, December 6. /ARKA/. Germany is ready to cooperate with Armenia in the issues of support to the development ...
12/07/2011Pashinyan:We celebrate the New Year with high spirits, stronger self-confidence, and renewed faith in our own strengths and our future
... where we carried out a non-violent, velvet, popular revolution in the spring of 2018. 2019 was the first full year following the Revolution. In my December 31, 2018 message, I promised that by the end of 2019, we would have reached new heights, record new ... ... leading countries in terms of economic growth in 2019. The citizens of the Republic of Armenia can see and feel the changes in our economy. During 2019, as many highways were repaired in Armenia as in 2015, 16, 17 altogether. Salaries of the military, rescuers,...
01/01/2020Armenia’s government needs to enforce fundamental changes in its economic policy, analyst says
Armenia’s government needs to enforce fundamental changes in its economic policy, political analyst Vigen Hakobyan told a press conference today, recalling Prime Minister Nikol Pashinyan’s promise to make an economic revolution. YEREVAN, March 12, /ARKA/. Armenia’s government needs to enforce fundamental changes in its economic policy, political analyst Vigen Hakobyan told a press conference today, recalling Prime Minister Nikol Pashinyan’s promise to make an ...
03/12/2019Revolution will not end until all the goals are achieved, Pashinyan says
... Prime Minister Nikol Pashinyan said during a conversation with journalists at the headquarters of his My Step alliance that the revolution would not end until all the goals were achieved. "The first stage is over. One of its main goals is to turn Armenia ... ... terms of international politics," he said. Pashinyan said with every passing day Armenia is becoming stronger in terms of economy, international politics, democracy and the rule of law. "This process continues. Our government, our team has the ...
12/10/2018IMF Resident Representative to Armenia on economy, agreement with EU and poverty
... YEREVAN, December 21, /ARKA/. Armenia became a member of the International Monetary Fund in 1992. Since then, the IMF has extended financial support to Armenia in the framework of nine programs. What does the Fund project with respect to Armenia’s economy in 2018? What will the Comprehensive and Enhanced Partnership Agreement with the EU bring to the country? How does Armenia’s economy look in comparison to other countries in the region? What is to be done in relation to poverty? These and other ...
12/21/2017Armenia can aim for several "billion-dollar" export activities by attracting more investment - UNCTAD
... attitude prevails among investors, who have reacted with caution to the recent political transition. Investment policy reforms needed Achieving the government’s vision of fighting poverty and unemployment through a structural transformation of the economy will require investment policy reforms and a more significant investment promotion effort. Armenia’s ambassador to the UN in Geneva, Andranik Hovhannisyan is quoted in the report as saying that the country is ripe for an economic revolution based on high-tech and innovative activities and we are working to modernize the business environment, and the country’s United Nations resident coordinator, Shombi Sharp is quoted as saying that timing for investment in Armenia is now both ...
11/14/2019Impact of coronavirus on global economy and Armenian economy to be short-term - central bank
The impact of coronavirus on the global economy and the Armenian economy will be short-term, according to the Central Bank of Armenia. It said it was closely monitoring the developments in the global economy in connection with the coronavirus. "According to current estimates, the impact ...
03/09/2020Monetization of Armenia’s economy hit 33,8% in 2012
Monetization of Armenia’s economy rose by 11.9 p.p. throughout 2007-2012 to 33.8% in 2012. YEREVAN, April 29./ARKA/. Monetization of Armenia’s economy rose by 11.9 p.p. throughout 2007-2012 to 33.8% in 2012. Monetization of economy is a key indicator of money supply ...
04/29/2013Ameria advisory company head calls on government to give up old economic development stereotypes
Tigran Jrbashyan, the head of Ameria advisory management company, told a televised discussion on economic developments that Armenia's economy is developing according to very old stereotypes that have not changed for over 20 years, even after the "Velvet Revolution". YEREVAN, August 31. /ARKA/. Tigran Jrbashyan, the head of Ameria advisory management company, told a televised discussion on economic developments that Armenia's economy is developing according to very old stereotypes that have not ...
08/31/2020Pashinyan: winemaking, IT, tourism, and agriculture most developed sectors of Armenia's economy
... belief and action of the people. However, political change is only the first step. We shall translate the will and aspirations of our people into economic and social development. And now “Economic Revolution” is underway in our country. Economic revolution can be based only on fair and just institutions, equal environment, and impartial treatment to all. It means that the government says NO to corruption, NO to monopolies to encourage creativity and talents of our people and make Armenian economy competitive both in the region and in the world.' Pashinyan said also that Armenia provides an excellent opportunity for investors in areas such as information technologies, tourism, agriculture, manufacturing, energy, and many other spheres. ...
09/24/2019EDB excludes risk of “overheating” in Armenian economy from construction and lending (EXCLUSIVE)
There is no risk of “overheating” in the Armenian economy due to increased investments in construction and lending. YEREVAN, December 12. /ARKA/. There is no risk of “overheating” in the Armenian economy due to increased investments in construction and lending. This was stated by Alexei Kuznetsov,...
12/12/2024Global recession or just an adjustment: what awaits Armenia amid the "storm" in the world stock markets
... NASDAQ Composite index fell 6.35 per cent to 15710.53 points. Despite the fact that the next day indices and shares of companies began to recover the fall, many experts said that such a sharp decline is an indicator of significant problems in the world economy, and what happened may be a harbinger of a new global crisis. Tatul Manaseryan, Head of the Alternative Research Centre, and economist Hrant Mikayelyan shared their opinions on the development of the situation and its possible impact on Armenia ...
08/07/2024Sustainability concept to become economic policy’s pivot after coronavirus – Hergnyan
The economy of Armenia is experiencing difficult times because of the crisis caused by the coronavirus. Different experts give a wide variety of forecasts. What awaits the Armenian economy, what are the development forecasts, how productive are the measures ...
05/11/2020Coronavirus outbreak in China cannot have serious impact on Armenian economy -minister says
The coronavirus outbreak in China cannot have a serious impact on the Armenian economy, Minister of Economy Tigran Khachatryan said during a Q&A parliamentary session today. YEREVAN, February 12. /ARKA/. The coronavirus outbreak in China cannot have a serious impact on the Armenian economy, Minister of Economy Tigran Khachatryan ...
02/12/2020Written interview with DMD Mr. Tao Zhang - ARKA (Armenia)
In its latest April review, the IMF has raised its outlook for global economy growth. In spite of this, economists, analysts, and representatives of states are pessimistic about the future prospects of the global economy. YEREVAN, June 8. /ARKA/. In its latest April review, the IMF has raised its outlook for global ...
06/08/2017Armenia’s economy drifting into recession amid dramatic decline in foreign trade and transfers
... outside shocks. YEREVAN, May 14. /ARKA/. Today many international financial organizations have already worsened their outlooks for economic growth in Armenia in 2015, which was badly affected by outside shocks. Some organizations say the country's economy will slow down and GDP growth will come close to zero, other organizations predict a recession and some forecast even decline. According to the central bank's latest report, economic growth in Armenia is predicted to be 0.4-2% in 2015 as in ...
05/14/2015IMF forecasts 4 percent GDP growth for Armenia in 2012, but says there is growth potential
... structural benchmarks in a variety of areas regarding tax policy, tax administration, conduct of monetary policy, financial sector monitoring and supervision, and social policies. 2. What size of investments does the IMF plan to make in the Armenian economy in 2012 and what sectors will be regarded as a priority? We expect to disburse around USD 100 million this year (but please note this year there will also be large repayments fr om the government to the IMF for USD 156 million). The new disbursements ...
05/22/2012Pashinyan speaks about economic achievements as he meets Armenians of Strasbourg
... to members of the Armenian community of Strasbourg, France, highlighting the successes the country has achieved since the velvet revolution more than 10 months ago. "Revolutions are followed as a rule by economic recession. However, Armenia’s economy saw a growth after the revolution. During these 10 months, 51 thousand jobs were created, which make about 10% of the entire labor market," he said. At the same time, the prime minister stressed that it is difficult to say how many new jobs were in reality created and ...
04/12/2019Armenia’s main objective is economic revolution - Gagik Tsarukyan
... staged in Abovyan as part of his election campaign. YEREVAN, November 28. /ARKA/. Armenia’s main objective is economic revolution, Gagik Tsarukyan, the leader of Prosperous Armenia party, said Tuesday while speaking at a rally staged in Abovyan ... ... should adopt laws to solve these problems. Today in any country small and medium-size businesses constitute the pivot of the economy, which make up 50%, 60 or 70% of any European country’s economy.” Along with that, Tsarukyan said that it is wrong ...
11/28/2018Iran bans imports of US-made consumer goods
Iran’s Ministry of Industry, Mine and Trade says it will block imports of American goods in line with an order by Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to develop an “economy of resistance”. YEREVAN, November 6. / ARKA /. Iran’s Ministry of Industry, Mine and Trade says it will block imports of American goods in line with an order by Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to develop ...
11/06/2015Forbes: Renaissance Capital expects Armenia to have the highest economic growth among Caucasus and Central Asian countries in 2022
... of hundreds of thousands of Russian nationals due to the conflict in Ukraine, according to a Renaissance Capital investment company’s report, the Russian edition of Forbes magazine says. Analysts of the investment company forecast that Armenia’s economy is set to grow by 14% this year, up from its earlier 5% growth forecast. S&P Global analysts pointed out the sharp increase in remittances from Russia as one of the reasons for the double-digit growth of Armenia’s economy, which has supported ...
11/21/2022Armenia-based companies invested record amount in local economy in 2021- minister
Armenia-based companies invested a record-breaking amount in the local economy in 2021 – more than 1.4 trillion drams, Economy Minister Vahan Kerobyan said on May 19. YEREVAN, May 20. /ARKA/. Armenia-based companies invested a record-breaking amount in the local economy in 2021 – more than 1.4 trillion drams, Economy ...
05/20/2022Ministry has not yet looked into possible impact of developments in Russia on Armenian economy- minister
Armenia’s economy ministry has not yet looked into a possible impact of economic and political developments in Russia on Armenian economy, economy minister Vahram Avanesyan told reporters today. YEREVAN, March 11. / ARKA /. Armenia’s economy ministry ...
03/11/2014IMF ready to help Armenia in case of need
... keeps on increasing. However, Armenia may be influenced by the international crisis as it cannot be completely isolated. We cannot yet say for sure, but we have fears that the worsening situation in Russia may influence Armenia because Armenia’s economy is dependent on Russian capital. Specifically, direct investment and money transfers from Russia may decrease. I must say that the exchange price of shares in Russia has fallen by about 80%. However, we do not think that the situation in Russia ...
11/10/2008Armenian president to present his vision of forth industrial revolution in Davos
... Energy Security of the World Economic Forum. The Forum is looking forward to hearing your vision regarding the forth industrial revolution, new quantum technologies, quantum politics as well as on directions and trends of development of the contemporary ... ... and Sustainable World. Over 700 speakers from different countries and over 3000 participants will discuss issues related to economy, technologies, ecology, and industry. In fifty years of its existence the annual meeting in Davos has become one of the ...
01/20/2020Pashinyan stresses importance of startups in Armenia's economy
... of start-up is very important for his government. "Our goal is to inspire every citizen to become an activist of thought and to make the Republic of Armenia a superpower of thought,” Nikol Pashinyan is quoted by the press office. The economic revolution is first of all a revolution of thought, it all starts with an idea, this is the revolution in Armenia. Formerly everything was structured around a material basis in our country. Instead, everything starts with an idea in New Armenia. Any material ...
08/05/2019Government’s main task is to encourage people and to develop their creative abilities and skills - Pashinyan
... nothing, or even if something could be done, it should be done with the permission of patrons. “What has changed after the revolution and what can a citizen of the Republic of Armenia do now? The answer is as follows: The citizen of the Republic of ... ... past one year. The aim of the forum is to attract entrepreneurs from Armenia and the Diaspora in the process of developing the economy and communities of the region. The investment programs for the development of agriculture, industry, tourism and a number ...
05/06/2019Post-revolutionary euphoria in Armenia dwindling, political analyst says
... that the post-revolutionary euphoria has decreased,’ he said. According to him, a certain part of society is demanding concrete results from the government. Hakobyan noted also that it is impossible to satisfy all the expectations prompted by the revolution. In his opinion, the biggest disappointment is the lack of concrete, tangible results. ‘Seeing that the people are expecting tangible changes in the economy, the authorities began talking about $3.3 billion worth investment programs. But people want to know how many jobs the investments created and what the salaries are," said Hakobyan. Bowing to massive protests in 2018 April, prime minister ...
04/12/2019Davos forum may help Armenia out of asphyxia, Russian newspaper says
... compare, not counting the desire of peoples to have a better life. In this respect, the comparison is not in favor of the Armenian revolution, Nezavisimaya Gazeta argues. From the first day Saakashvili in Georgia began large projects, especially in the areas ... ... possibilities for foreign investors to start their business in Armenia. Armenia is on the way to creating a technological and industrial economy that meets the standards of the 21st century with even more opportunities and prospects for positioning Armenia as a country ...
01/22/2019Armenian government unveils its plan of actions
... sections. In addition to the basic vectors of the government’s activity and preparations for early parliamentary elections, the plan of actions has sections on external and internal security, fight against corruption, consistent development of the economy and Armenia’s relations with its vast Diaspora. According to the plan of actions, the key goal of the Armenian government is to consolidate the values of the "velvet" revolution that took place in April and early May as a basis for national and public relations, as well as for the implementation of the goals of the revolution. The program says that the government is to be formed solely through the free will of the ...
06/04/2018Pashinyan: we will succeed in building a reliable judicial system
... negative trends, and we had a 7.1% gross domestic product growth in the first quarter of this year,” he said. ‘I must say that although this growth is pleasing to us, we understand that the statistics is a little bit lower for the proposed economic revolution. At least we should try to increase the rate of growth by 2-3%. As an exciting trend in the economy, I would highlight the reduction of the black economy. In fact, 51,000 new jobs appeared in Armenia over the past one year. These are the jobs that employers themselves declared to tax authorities, that is, they are not the result of an analysis,...
05/27/2019Economic development more important than recognition of Armenian Genocide - Armenian minister
The number one priority for the Armenian authorities is economic development rather than international recognition of the Armenian Genocide in Ottoman Turkey, Economy Minister Gevorg Papoyan said today, commenting on the earlier statement of Foreign Minister Ararat Mirzoyan, who said that ‘the issue of the Armenian Genocide is not the number one priority in the country's foreign policy.’ YEREVAN,...
10/31/2024First policy dialogue of "GREEN Armenia" joint platform took place
... Sebastian Molineus, Head of the EU Delegation to Armenia Andrea Wiktorin, the Ambassador Extraordinary and Plenipotentiary of the Kingdom of Sweden to Armenia Patrik Svensson, UNDP Resident Representative in Armenia Natia Natsvlishvili, Minister of Economy Vahan Kerobyan, and representatives of other concerned structures. The goal of the GREEN Armenia platform is to combine and optimize policies and investment initiatives for the sake of Armenia's transition to green economy. Today's event was the ...
06/27/2022New economy minister: I will be the representative and the guardian of business community in the government
Vahan Kerobyan, a prominent Armenian businessman, founder and CEO of the food delivery service Menu Group UK Ltd, was picked up by Prime Minister Nikol Pashinyan to replace Tigran Khachatryan as economy minister. YEREVAN, November 27. /ARKA/. Vahan Kerobyan, a prominent Armenian businessman, founder and CEO of the food delivery service Menu Group UK Ltd, was picked up by Prime Minister Nikol Pashinyan to replace Tigran Khachatryan as economy ...
11/27/2020Projected GDP growth in Armenia downgraded, competition limping on both legs - Manaseryan
... new authorities, continuing their predecessors' traditions, underrate the expected economic growth indicator. They are doing it for announce a record performance above target by the end of the year. The 4-to-5-growth is very low, especially given that economy develops only when there are several directions chosen as development engine. Only after that the economic development impacts human development, and this spurs income and spending growth. ARKA – Do you mean it is still early to speak about ...
02/20/2020Artsvik Minasyan to move to another position, but still continues working as acting economy minister
... the president appointing him to a new position. He said he is opposed to the idea of renaming the economy ministry. In his opinion, the word ‘economy’ should remain in the ministry’s name. In his words, he would like to see another person as economy minister. “I don’t seek this seat at any price, since not a single position is a goal in itself for the Armenian Revolutionary Federation/ Dashnaktsutiun,” he said adding that his party’s only goal is to ensure the country’s development. He said again that his only goal is to propel the country’s comprehensive development regardless of his position. Minasyan ...
09/23/2016Armenia’s informal economy is over 35 percent: IMF
Armenia’s informal economy is more than 35% of its GDP, according to a supplement to an IMF report called "Regional Economic Outlook: the Caucasus and Central Asia." The size of the informal economy, according to the IMF, across this region is more than 75%. ...
11/16/2012First joint board meeting of Armenian Economy Ministry and NKR economy development ministry to take place in Yerevan
Joint board meeting of Armenian Economy Ministry and Nagorno-Karabakh Republic (NKR) Economy Development Ministry took place on Tuesday in Yerevan. YEREVAN, September 14. /ARKA/. Joint board meeting of Armenian Economy Ministry and Nagorno-Karabakh Republic (NKR) Economy Development ...
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