Armenia recorded 15% economic slump in 2009December 29, 2009 - 12:46 AMT PanARMENIAN.Net - Armenia's economy will record 15% slump for 2009, according to Minister of Finance Tigran Davtyan. "Over the past 11 months, economy began to recover, with the slump decreasing from 18% to 16%, he told a news conference in Yerevan. At that, the Minister noted that annual inflation rate will comprise 5-5.5%, the figure not going beyond the limit envisaged by the national budget. As to increased retail trade volumes, he explained it by the introduction of checkouts and payment of check bonuses which totaled AMD 3.5 billion. "Positive results in that direction were 2-2.5 times more," he said. Besides, average salary increase over the past 11 months made 11%, with the growth in budgetary organizations reaching 16%. 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 | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |