Agriculture Minister David Zadoyan said at today’s briefing that taking into consideration that this year crop has been beaten by late frosts World Bank would provide financial assistance of 1million 300 thousand USD under accord reached. The assistance is to be used for purchasing fertilisers, he said. This year apricot crop is expected to make 1,000 to 1,500 tones instead of 8,000 needed. Grapes...

At the briefing held Thursday, Agriculture Minister David Zadoyan presented a government-approved program on measures to be taken in communities where water consumption is extremely high. Those communities where a huge amount of water is used for irrigation will be provided with compensation. Compensation mechanisms are being worked out now. Amount of 500 million drams is to be allocated for that...

Americans are now interested in Garni Space Research Center development. Yesterday, they provided a $275,000 grant aimed, as U.S. Ambassador to Armenia John Ordway said, at commercial researches to the Center. The U.S. side is sure Armenia has a huge potential in space research sphere. At the same time, Americans would like to know what measures are being taken in Armenia to crack down on corruption...

It turned out that the political imbroglio in the country had positive influence on Customs Service. At the press conference Service Head Armen Avetisyan announced that customs duties of 92.800.000.000 drams instead of 90.400.000.000 were collected in 2002 . Customs workers registered 193 cases for contraband. As to customs duties, during the first 4 months Directorate planned to collect 21 milliard...

2 elections were held in Armenia within a year and 1 is still to be conducted. But the political atmosphere didn’t have influence on the tax entries. In comparison with the previous year in the context of the first 4 months of 2003 the tax receipts increased by 12,5 of incomes is now in shade and an objective is set to return them to the tax sphere.

On the threshold of parliamentary elections, Republicans-led Armenian government should have at least remote resemblance to the structure the party presents in its election campaign. Electorate is constantly being told that the republic authorities have successfully solved salary-payment debt problem. Today, on parliamentary election footing, the government decided to prove it by making a decision...

Foreign Private Investment Corporation, U.S., provides loan of 4,6 million dollars to a small-scale American enterprise for purchasing two jets for Caucasus Airlines company, which carries out regular flights from Georgia to Azerbaijan and Armenia. The Corporation president Peter Watson says economic development in Caucasus depends on reliable transport. He also says this project will help to create...

Foreign Affairs Ministers of 10 countries have gathered today in Yerevan to partake in the meeting of Council for Foreign Affairs Ministers of country-members of Black Sea Economic Co-operation. It’s the 8th meeting at that format. This time the representatives of both Azerbaijan and Turkey arrived in Yerevan. Azeri representative had serious reasons to visit Armenia. After the 6-month long chairmanship...

Armenian Government has decided to allocate 17,9 million drams for those provinces whose territories aren’t fit for exploitation. Deputy Territorial Governing Minister Kamo Areyan said at today’s briefing. This amount had to flow into the provincial communities’ budgets from land taxes. Besides, these provinces’ residents are given the right to exchange their plots of land for better ones....

Finance and Economy Deputy Minister and Treasury Secretary Atom Janjughazyan presented a report on implementation of the 2002 budget. It became clear from the report that economic growth in the republic made 12,9 more than in 2001). Deficit decrease tendency is already visible while trade balance remains negative and makes 483 million drams, the report says. The Treasury Secretary says he is happy...

Armenia, having fixed an unprecedented economic growth, aims at once to integrate into the markets of European countries. The country, becoming economically strong, doesn’t frighten the Europeans, and they are even ready to support Armenia for that purpose, foreseeing possibility for taking root into our market. The heads of Trade and Industry Chambers of Black Sea Co-operation countries are in...

Before the elections president Robert Kocharyan promised to increase jobs by a few thousands. No dizzy figures were cited. What happens in Armenia now is just the contrary what Kocharyan had promised . In a few days the “army of unemployed” people of Armenia may probably include 1900 novices. Under the Law, workers of “Armenian Aviation” Company have received information in written about...

During the recent days people of Yerevan are again disturbed. Gradually the situation when rather big territories of Yerevan were being deprived of electricity supply becomes as usual again. No statement over passing to fan-shaped disconnection of electricity supply was made. Ministry of Energy isn’t even aware for what reasons electricity in Yerevan is obligatory cut off every day . But Ministry...

According to the Central Bank decision, beginning from March 31, 2003, copecks of 2003’ specimen of 50, 100, 200, 500 dram’ nominal value will be put into turnover . 1993’ bonds in 10, 25, 200 drams and 1998’ ones in 50 and 100 drams are considered as legal payment means till April 1, 2004. After they can be changed only in the banks in Armenian territory and their branches by April 1, 2005 . Gevorg Tumanyan, Central Bank representative...

Yerevan Brandy Factory faced challenge this year. “Grape crops in Armenia are expected to be poor for coming three years because of this year’s cold winter”, Agriculture Minister David Zadoyan said today. He also predicted that grape prices would run high. Zadoyan voiced hope that everybody understands that’s not his guilt. “That was God’s will”, he said.

“Only solvent people can afford foil. We export our production to Europe, Canada and the U.S.A. Just 10 of failed payment. Mr. Dzavaryan convened a press conference to announce that “favourable conditions to work” are created in Armenia. All other problems are “traditional and human”, he said. In his opinion, “such an excellent environment for export and investment” isn’t created even in Russia. At the same time, he said it would...

After long interval CB Chairman Tigran Sargssyan met journalists and introduced them CB monitory management of 2003. He was asked about corruption in CB. Tigran Sargssyan is accused of having taken bribe of 150.000 $ for nominating someone as the head of CB Internal Audit Department . “If the question is sensational, I’ll try to answer it in a sensational way - I have purchased a castle on...

Visits of Ilya Klebanov, Russian Minister of Industry, Science and Technologies, are as rule connected with our debts to Russians. This time, a mechanism for payment of the debt for the nuclear fuel used by Armenian Nuclear Power Plant and purchasing new fuel is to be worked out. Debt repayment issue is put at the top of the agenda of the Economic Cooperation Armenian-Russian intergovernmental commission’s...

European Bank intends to begin financial transactions with Armenia by the end of 2003. It is interested in taking part in capital of ArmEconomBank, one of the private banks of Armenia. Most probably, European Bank will privatise up to 25 % of ArmEconomBank shares. European Bank together with ArmEconomBank implemented credits of 1,5 million $. “Successful execution of our first program with ArmEconomBank...

Second republic conference on “Small and medium business in Armenia” was somewhat like praise to the present Authorities . The measure was arranged in the Reception House of Armenian Government /any businessman, displeased with the manner of working of the management-in-office can hardly rent premises like this/. Armenian high rankers, headed by Armenian PM, representatives of Ministries,...

Armenian Nuclear Power Plant is to put into exploitation again. Works in that direction started Monday. As a rule, in 48 hours after that kind of works starts the Power Plant joins general energetic network. That’s why electricity produced by the plant is expected to be used as soon as on Wednesday. Energy Ministry sources report that the operation is carried out by January 23, as it was scheduled....

There is no Department of Chemical Industry in the Armenian Ministry of Trade and Economic Development . In other words a section that was responsible for development or regress of a concrete sphere, was crushed. For the time being, retrogression is more real as even the privatisation process failed to save the chemical factories. “Nairit” is a perfect example for crisis. Its output is in a great demand in the foreign market. Even demand...

Social Security State Fund of the Republic of Armenia didn’t pay unemployment benefit to Armenian jobless citizens from June to December 2000. Labour market is saturated with supply while demand for human resources remains poor. Social Security Ministry being concerned about unregistered occupation worked out new strategy to get a real data on occupation rate from each community of the republic....

Armenian leaders state with pleasure the fact Armenia joined one more international structure, becoming the 56-th member of it towards the end of this year. ”Kimberley Process”, having UNO’ warrant, precludes circulation of illegal “conflict” diamond in the legal international trade. Armenia made too much efforts to be inscribed in “Kimberley Process” by the end of 2002 or else it would miss its chance for diamond trade with...