Financial crisis has already affected 90% of Armenian companiesMay 6, 2009 - 21:41 AMT PanARMENIAN.Net - A poll, involving 60 small and major companies in Yerevan and RA regions, showed that the crisis has affected 90% of them, Economy and Values Research Center stated.According to Economy and Values Research Center Chairman Manuk Hergnyan, 70% of organizations' main issues are caused by reduced sales volumes, untimely payments and even non-fulfillment of payments. "35-40% of companies had difficulties in attracting financial means, " he said, adding that majority of companies plan to cut administration expenditures and delay planned investments. 40% of organizations polled plan job cuts, and 20% - salary reductions, especially in industrial spheres. On the other hand, the crisis has had a positive influence on a number of Armenian companies, as far as competitors' weakened positions, raw material and equipment price reductions are concerned. "Around 80% of entrepreneurs polled believe that the crisis will exacerbate in 2009," Hergnyan reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |