Armenian Economy

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Armenian Economy

Postby Lernakan on Sat Mar 31, 2007 5:33 pm

Please post all articles regarding the Armenian economy within this thread.



ARMENIA RATES SECOND IN 'SUPER GROWTH' COMPANIES INDEX

PanARMENIAN.Net
31.03.2007 13:59 GMT+04:00

/PanARMENIAN.Net/ The U.S. tops the Grant Thornton International
Super Growth Index for the third year running. 44% of US companies hit
'super growth' status, an increase of 5% over the previous year. The
Index measures the country with the highest proportion of "super
growth" companies.

This year Armenia (38%) has replaced India in second position.

'Super growth' companies are defined as those which have grown
considerably more than average. To identify 'super growth' companies,
Experian Business Strategies, the economics consultancy, took four
key indicators to create a weighted index. The four indicators were:
absolute growth in turnover (adjusted for inflation); the percentage
growth in turnover (adjusted for inflation); absolute growth in
employee numbers; the percentage growth in employee numbers. By this
measure, 23% of all privately held businesses surveyed worldwide are
classified as 'super growth'.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Lernakan on Thu May 31, 2007 3:31 pm

IMF: ARMENIA IS LEADING IN THE REGION WITH MACROECONOMIC INDICES

ArmRadio.am
30.05.2007 15:38

The average economic growth in the countries of the South Caucasus and
Central Asia has exceeded 10% during the past four years, David Owen,
Senior Adviser of the International Monetary Fund (IMF) Department
on Middle East and Central Asia, declared in Yerevan today.

In his words, with the economic development index Armenia is one of
the leaders among the countries that do not produce oil. "Armenia's
macroeconomic growth has been 13% on the average during the past four
years," said David Owen.

He noted that due to the growth of export, flow of foreign capital
and direct investments in the first quarter of 2007 Armenia's economic
growth has exceeded the 10% envisaged by the budget.

The IMF representative said the majority of the countries have
constrained the nominal appreciation of the national currency rate
against USD, and Armenia is the leader in this regard (25%). In David
Owens's words, this fact had a considerable and important impact on
the macroeconomic indices of the country.

During the past two years real appreciation of national currency
has occurred in almost all the countries of the region. "Due to
the flexible policy of the Central Bank, the index reached 16.9%
in Armenia," Mr. Owen said.

According to the IMF representative, further constructive reforms
of the Armenian Government will enhance the competitiveness of the
country and will promote the growth of export rates.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Lernakan on Wed Jun 06, 2007 8:47 pm

TRADE GROWS BY 17.3%, SERVICES - BY 16.4% IN ARMENIA IN JANUARY-APRIL 2007 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
Jun 05 2007

YEREVAN, JUNE 5, NOYAN TAPAN. In January-April 2007, trade turnover
made 364 bln 837.5 mln drams (over 1 bln 14 mln USD) in current prices,
growing by 17.3% on the same period of 2006 in comparable prices.

According to the RA National Statistical Service, in January-April
2007, retail trade amounted to 227 bln 614.7 mln drams in current
prices, growing by 11.9% on the same period of last year in comparable
prices.

In the first four months of 2007, services made 155 bln 894.3 mln
drams in current prices, increasing by 16.4% on the same period of
2006 in comparable prices.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Lernakan on Wed Jun 06, 2007 8:47 pm

MONETARY INCOMES AND EXPENDITURES OF ARMENIAN POPULATION GROW BY 24.7% AND 22.4% RESPECTIVELY IN JANUARY-APRIL 2007 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
Jun 05 2007

YEREVAN, JUNE 5, NOYAN TAPAN. In January-April 2007, monetary
incomes of the Armenian population made 528 bln 7.9 mln drams (a1
bln 467.7 mln USD), while monetary expenditures - 526 bln 315.4 mln
drams. According to the RA National Statistical Service, the growth
rates of these indices made 124.7% and 122.4% respectively compared
with January-April 2006.

Real monetary incomes of the population (incomes less compulsory
payments, taking into account changes in consumer price indices)
grew by 18.5% in January-April 2007 on the same period of last year.

In March 2007, the average monthly nominal salary exceeded 3.6fold
the minimum salary against 4fold in 2006.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Lernakan on Wed Jun 06, 2007 8:48 pm

INDUSTRIAL PRODUCTION GROWS BY 1.7% IN ARMENIA IN JANUARY-APRIL 2007 ON SAME PERIOD OF LAST YEAR
Noyan Tapan
Jun 05 2007

YEREVAN, JUNE 5, NOYAN TAPAN. In January-April 2007, industrial
production of 208 bln 502.1 mln drams (about 579.6 mln USD) was
made in Armenia (in current prices). Production of 210 bln 766.8
mln drams was sold, including production of 23 bln 335.5 mln drams -
in CIS countries and that of 50 bln 705 mln drams - in other countries.

According to the RA National Statistical Service, the index of
industrial production made 101.7% compared with January-April 2006,
the same index without production and distribution of electricity,
gas and water made 99.8%. In the first four months of 2007, industrial
production without diamond production grew by 7.8% on the same period
of alst year and made 206 bln 897.3 mln drams.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Lernakan on Thu Jun 14, 2007 11:25 am

New airport terminal opens in Armenia
12 June 2007

A video of Yerevan: http://youtube.com/watch?v=1ch__cFCIas

Armenia is one of the top emerging economies in the Caucasus. With its strategic geographical location, this country is the historical gateway between Asia and Europe, a bridge between the East and West. In the last few years, Armenian economy has grown spectacularly, along with the number of business opportunities. Moreover, thanks to its rich historical and cultural heritage, the country has become a popular tourist destination with a higher growth potential within the region.

In 2002 Armenia International Airports decided to start the renovation and extension works of Zvartnots International Airport, in Yerevan, the country’s capital. After less than 40 months, the new terminal has just been opened, with the intention of becoming a link for tourism and commerce between Asia and Europe.

Armenia International Airports, the company in charge of the management, aim to turn Zvartnots into an international centre connecting Armenia with the world and opening the country to foreign visitors. Road infrastructure in Armenia is currently being surpassed by the ever-increasing trade traffic within this region of the Caucasus. In spite of the efforts made by the Armenian government to improve their national road network, the country’s short-term business goals will depend mainly on air transport.

Improvements at Zvartnots will involve a total investment of €164 million for the next 30 years. Armenia International Airports has already allocated over 70 million to the first phase, which included a 19,200 sq m extension of the premises and a refurbishment of around 45,000 sq m.

Now, the first phase is complete, the airport boasts a 54,000 sq m runway and 45,000 sq m of building. In addition, a new terminal was created that occupies a 25,000 sq m area.

After completing the project, the company expects that the airport will achieve a passenger-traffic of over 2 million people in its first year. In order to adapt to the forthcoming increase in visitors, new parking has been created, with capacity for 1,000 vehicles. In terms of freight transport, Armenia International Airports has fitted-out a new cargo terminal, which can house a variety of cargo and has capacity for 100,000 tons per year.

34 international airlines will now operate from Zvartnots, connecting Yerevan and Armenia to the world’s most important cities, including London. Altogether around 60 routes will be scheduled to fly from Zvartnots.

High security, technology, and comfort

In order to comply with the international air regulations, Armenia International Airports has made a great effort to improve security at Zvartnots. Among other measures, 150 surveillance cameras have been installed in the premises, both inside the buildings and in open spaces.

The modernisation effort has been significant, including the implementation of an innovative flight information display system (FIDS) as well as new automated and biometric-identification systems for baggage check-in and passenger control. Also all buildings are now equipped with Wi-Fi Internet connection.

In addition, the company has focused attention on improving visitors’ comfort within the premises. Arrivals hall capacity has been doubled to reach a volume over 1,000 passengers per hour, and passenger management will be streamlined between three and four-fold thanks to a substantial extension of the customs points.

Finally, the renovation of the airport’s relax areas and restaurants has been extensive, together with the enhancement of the Duty Free shops’ product offering.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Lernakan on Wed Jun 20, 2007 10:34 pm

EUROPEAN BANK WARNS OF ARMENIAN GROWTH PITFALLS
By Emil Danielyan

Radio Liberty, Czech Republic
June 19 2007

The ongoing appreciation of the dram will endanger continued economic
growth in Armenia unless local companies increase their productivity,
according to the European Bank for Reconstruction and Development
(EBRD).

"Without faster productivity gains, a further appreciation of the
Armenian currency would threaten the country's competitiveness," the
EBRD warned in an explanatory appendix to an economic report that will
be debated the Council of Europe's Parliamentary Assembly next week.

The Armenian dram has gained more than 50 percent in nominal value
against the U.S. dollar since the start of its dramatic rise in late
2003. The process slowed down in the first quarter of this year only to
gain new momentum last month. Local manufacturing firms claim to have
been hit hard by the dram's appreciation, criticizing the Armenian
authorities for their refusal to intervene in the foreign-exchange
market.

The authorities and the Central Bank in particular have dismissed
the criticism, arguing that the much stronger dram is the inevitable
result of recent years' surge in hard currency remittances sent home
by hundreds of thousands of Armenians living and working abroad. They
say the manufacturing sector can successfully adapt to the new reality
with productivity gains.

Central Bank officials say the exchange rate fluctuation has also
suppressed inflation which has remained in single digits despite the
country's robust economic growth. The World Bank and the International
Monetary Fund take a similar view, having repeatedly endorsed monetary
policies pursued by the Armenian authorities. A senior IMF economist
went farther late last month, saying that the dram's strengthening
has actually spurred economic growth.

The EBRD, by contrast, seems more worried about the trend. In an annual
report issued last month, the London-based lending institution, which
is tasked with facilitating former Communist countries' transition to
market-based economics, listed continued currency appreciation among
factors which it believes pose "significant risks for the [Armenian]
economy in the medium term."

The other factors included Armenia's "vulnerability to commodity
prices," dependence on low-interest loans and grants from Western
donors, and skyrocketing real estate prices.
www.ArmenianHighland.com

Yes Tseghakron Em - Yev aha K'yerdnum Vahagni Achi Vrah Yerbek Chmexanchel Ukhtis Dem - Aprel, Gorcel u Mernel Vorpes Tsexamard.
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Postby Armanen on Sun Jul 29, 2007 9:30 am

IF THE ECONOMIC GROWTH CONTINUES AT THE AVERAGE RATE OF THE LAST 5 YEARS, ARMENIA WILL REACH THE MEDIUM INDEX OF THE EUROPEAN COUNTRIES IN 2023"
By Aghavni Harutyunian

AZG Armenian Daily #142
28/07/2007

On July 26, Armenian-European Policy and Legal Advice Center (AEPLAC)
presented its "The Armenian Economic Trends: 2006 Annual Report"

"Annual Economic Report - 2006" contains in-depth analyses of the
main macroeconomic developments in Armenia in 2006, with extensive
international comparisons by using a number of indicators, said the
European Director of AEPLAC Kenneth Myunter

According to AEPLAC's Senior Expert of Economic Issues Artashes
Shaboyan, the analyses consists of various chapters which cast a light
upon key topics such as composition, structure and per capita levels of
the Gross Domestic Product, and a sectored structure of the outputs,
which includes industrial production, agriculture, construction and
other sectors. These are followed by chapters related to inflation,
labor market, financial / banking sectors, the state budget, external
debt and developments in the external sector.

According to the report, GDP rose three times in the last 5 years,
from that only 61% is the real growth.

Inflation in the economy is 14%; the rest 25% was formed because of
the devaluation of the US dollar against the Armenian dram.

Providing 13,3% economic growth in 2006 Armenia became the fifth in
the list of the 181 countries. Azerbaijan gained the first rank with
its unprecedented indices of the economic growth in the last two years.

If the economic growth in Armenia continues at the average rate of the
last 5 years, Armenia will reach the medium index of the 27 European
countries in 2023.

The key branch in GDP: the construction's high rates of growth
continue, moreover, it provided half of the GDP growth in 2006. It
is one of the peculiarities of the economic development of Armenia
during the last years.

At the same time the index of the apartments' construction is not
high as compared with the CIS countries.

In regard to the industry, GDP decreased in the spheres of cigarette,
chemistry and gold jewellery

A growth of productivity is recorded in the agricultural sphere.

The 2,9% index of inflation is close to the medium index of the 27
European countries.

Unemployment decreased and reached to 7,4%, the medium monthly wages
increased.

Head of the World Bank's Armenian Office Aristomene Varudakis spoke
about the following challenges for Armenia: development of other
branches besides construction, adoption of the amendments of the
second generation, improvement of the investments' atmosphere,
stimulation of the rivalry, etc.
It's a custom of the human condition for the masses to remain ignorant. It's what they do. In fact, that IS how "the peace" is kept. Whatever democracy we have here is a spectator's sport.
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Postby Armanen on Thu Aug 02, 2007 6:49 am

11.2% GDP GROWTH RECORDED IN ARMENIA IN JAN-JUNE 2007 - STATISTICS

ARKA News Agency, Armenia
July 31 2007

YEREVAN, July 31. /ARKA/. In January-June 2007, 11.2% economic growth
was recorded in Armenia compared to the corresponding period last year.

The RA Statistical Service reports that AMD 944,845.7mln GDP was
recorded during the period under review (in current prices).

A 26.3% increase in GDP was recorded in June 2007 compared to May 2007.

In January-June 2007, 104.9% deflator index was recorded at the end
of June 2007.

In January-June 2007, per capita GDP made AMD 293,220.9 or $882
(EUR 619).

11.8% GDP growth was recorded in Armenia in January-June 2006.

9% GDP growth is budgeted in Armenia in 2007 ($1 - AMD 337.37).
It's a custom of the human condition for the masses to remain ignorant. It's what they do. In fact, that IS how "the peace" is kept. Whatever democracy we have here is a spectator's sport.
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Postby Armanen on Tue Aug 07, 2007 8:47 pm

ARMENIAN FAMOUS RESORT TOWN OF SOVIET PERIOD DILIJAN BEING RESTORED

arminfo
2007-08-06 17:04:00

The greatest part of the resort town of Dilijan and local tourist
facilities are actively restored, Dilijan Vice Mayor Armen Makaryan
said at a press conference, Monday.

He said modern Hotel Mountainous Armenia will open soon. Large-scale
investments are made, especially by world known companies Tufenkian
($200 million) and Slav Group ($2 million). The construction is to be
completed within the coming 3 yeas. However, lack of labor force may
suspend the work, Makaryan said. At the same time, he hopes that after
the construction, Dilijan will become the tourist center of Armenia.

Some 2,000-2,500 tourists visit Dilijan every year. The number
of tourists is expected to rise to 12,000 people yearly after the
reconstruction of the resort.
It's a custom of the human condition for the masses to remain ignorant. It's what they do. In fact, that IS how "the peace" is kept. Whatever democracy we have here is a spectator's sport.
Armanen
 
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Joined: Tue Feb 27, 2007 6:13 am
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Postby Armanen on Tue Aug 07, 2007 9:06 pm

ARMENIA IS THE ONLY THING THAT UNITES THE WHOLE NATION
By Gohar Gevorkian

AZG Armenian Daily
04/08/2007

Grikor Bandikian, who is in Armenia through AGBU YSI program,
believes so

"We were very much amazed when we learned that we too were going to
dance at the Youth Center. During the dance classes organized for us
we learned how to dance and today we were on stage. I don't know how
we danced but we were trying hard to dance well", said Lia Sarkissian
from Los Angeles to "Azg" daily after the concert held a few days ago
at the Nor Nork Children's Center. She arrived in Yerevan together with
17 youngsters aged 18-25 on June 30 within the framework of Armenian
General Benevolent Union's (AGBU) Yerevan Summer Intern Program
(YSIP). The program, which is held for the first time, brought to
Armenia Armenian youngsters from America, Canada, Egypt and Romania.

AGBU also holds Summer Intern programs in New York and Paris, to
which Armenia joined this year. The program is unique in two senses:
first of all it gives a chance to the Armenians studying in different
educational institutions all over the world to increase their
professional experience. Secondly, it also returns them to their
roots. During the five-week program of AGBU, Armenian youngsters
from all over the world, who are still in Armenia these days, take
an internship program in the best organizations and enterprises
of our country; foreign ministry, National Assembly, Central Bank,
American University of Armenia, "EuroTerm" company, medical agency,
medical centers, Cafesjian Fund, "Sharm" enterprise, etc.

During the weekdays they work in the mentioned organizations and
companies in their fields, while in the evenings and weekends they
go sightseeing.

The interns also had the opportunity to get acquainted with the AGBU
Armenian programs. They visited the American University of Armenia,
Ultrasound Training Center founded together with the Heratsi Medical
University, participated in the Armenian Philharmonic Orchestra
concert, and in the exhibition and concert organized by the Children's
Center. They also learned about the devoted activities of AGBU in
Artsakh. The interns visited Karabakh and got acquainted with the AGBU
projects in Karabakh. They saw school #7 of Stepanakert reconstructed
by the AGBU, the building for war veterans, the chess school, visited
the Alex Manoogian monument on Alex Manoogian Street, were present
at the concert of Karabakh Chamber Orchestra, which functions in
Artsakh again thanks to AGBU. The Diaspora-Armenian youngsters also
got acquainted with the AGBU Repopulation Project visiting Norashen,
Bareshen and Jrakn villages of Hadrut region, which have been and
are being constructed by the AGBU.

Norashen is already populated. It also has a school and a
kindergarten. Jrakn is under construction. The interns met with the
NKR NA Speaker Ashot Ghulyan, with whom they had a long and very
useful conversation.

This summer intern program also includes classes of Armenian language,
dancing, history, as well as meetings with government members. Thanks
to these dance classes the interns too participated in the concert
organized in their honor in the Children's Center. They also had the
opportunity to listen to the lectures of Ashot Melkonian, Director
of the History Institute, and Hayk Demoyan, Director of the Genocide
Museum. They were also received by Deputy Foreign Minister Armen
Bayburtian. Besides the classes and work the interns went sightseeing
too - Garni, Geghart, Sevan, Dilijan, Khor Virap.

"Experience proved that every event organized abroad, no matter how
good and effective it is, because it unites the Diaspora Armenians, the
events organized in Armenia give a completely different result. This
is a huge core of Armenianism. This is the first time we are doing
this program in Armenia and we had a great response - we had 17 young
applicants", said Ashot Ghazarian, Director of the AGBU Armenian
Representation, who added also that the program will continue. AGBU
is already constructing the Melkonian Center in Nork, which is a part
of a big educational program. Ashot Ghazarian is convinced that it
will be the best educational program for the Diasporans. The center
in Nork will have a hostel complex, educational building, classrooms,
to provide every condition for the Diaspora youngsters to participate
in the educational program.

AGBU Armenian Representation Director spoke about the Study Abroad
international education project, which helps the students go to other
countries, continue their study in their field in other universities
for one semester, and then come back and continue their education
in their own country. "Now we want to bring Armenian students
from different countries of the world to Armenia. We will find
corresponding educational programs for them in different universities
of Armenia. They will live in the mentioned center and also attend
classes of Armenian language, Armenian history, and get in touch
with Armenian culture. We did this summer intern program only for
the summer, and now we want to implement this program the whole year
round. The students will go to accredited universities, collect their
credits and return home. They will both spend a whole semester in
Armenia and not lose their credits", said the Representation director
and added that all the higher educational institutions of Armenia
have introduced the credit system of assessment being integrated to
the educational system of the Bologna agreement. "A few more years and
our whole educational system will pass to the credit system and we will
have all the mutual agreements and recognition", said the director.

This means that the credits of the students who will study one
semester in different universities of Armenia will be recognized by
the universities of their own countries. Ashot Ghazarian remembered
that once they have already done such a program in 1995-96 and today
we have a young Diasporan professional who, thanks to the AGBU project,
stayed in Armenia and now works here.

"Coming to Armenia through this program, they later search for
other ways of returning to homeland. This is the best way to bring
the Diaspora Armenians back to their roots and connect them with
Armenia. There's no other more effective way", he said. Armenia should
be represented to them with its best sides, so that they feel proud
to be Armenians. "We have Diaspora-Armenia mutual responsibilities,
to help each other, and it's important that they see the best of
Armenia and get linked to it", said Ashot Ghazarian.

Lia Sarkissian, who moved with her family to Los Angeles when she was
three, is now in Armenia within the framework of AGBU Summer Intern
program and spends it in the Karagyozian Clinic. "The impressions
are both good and bad, but I re-estimated everything here.

I am working in the medical field and there are differences between the
clinics. But at the same time I am proud to be given the opportunity to
participate in an internship program here. I cannot describe or fully
explain the emotions that I felt here in Armenia. Dancing united us,
Armenian group dancing. I will never forget these five weeks that I
spent here".

Lia promised to come to Armenia in every possible occasion.

Group coordinator Tamar Shahabian assured that the interns are
satisfied with the AGBU program and impressed with the trip. She
mentioned all the places that they've been to. "We were very well
received here. Now we understand deeper why we are patriotic.

There are difficulties here, but the interns want to come back again. I
myself am staying here".

The grandmother of Romanian-Armenian Louisa Tanasie is an
Armenian. Knowing only a few words in Armenian Louisa expresses
her wish to come to Armenia with her hands and poor Armenian, and
then adds in English, "I wanted to come to Armenia because I have
Armenian blood in me. I wanted to see Armenia and I am so happy that
I am here. I work at "EuroTerm". I will come back to Armenia again. I
learn Armenian words in an Armenian school in Romania. I learn dancing
too. Here we were received very well. I hope to come back again,
this time with my grandma".

Armen Keshishian from Los Angeles is on a "government job" in his
homeland. He works in the Foreign Ministry of Armenia. It's his
third visit to Armenia and he highly estimates the progress of the
country. He also did not forget to thank the AGBU, for being the
participant of this program.

"This is my third visit to Armenia and my impression is very good and
I'm happy, as I could imagine. We spend our time here, and we love
the people. Armenia is the only thing that unites the people. It's
the only thing that is not divided into half-American, half-Lebanese,
half other things. This is purely Armenian, this is the country that
unites us all, the whole nation. I work at the Central Bank. I will
come to Armenia again", said Grikor Bandikian from Los Angeles.

Shushanik Ghaltakhchian, the AGBU YSIP coordinator from the Armenian
side, who was directly involved in the implementation of the program
finding jobs for the interns, believes that the program was a success.

Despite the differences of work style in Armenia and other countries
Shushanik Ghaltakhchian is sure that the interns got adjusted to the
jobs here better than they expected. "The biggest achievement of the
program is that most of these youngsters have decided to come back
to Armenia and this time not alone, with their families, grandmas,
sisters and other family members", said the program coordinator during
yesterday's reception at the Folk Art Museum. The AGBU had organized
this event to thank all the employers of the interns. All the interns
participated in the event with their supervisors.

"It was a great pleasure for us to have two young men working with
us whom we loved very much and who's leaving will be difficult for
us. They saw all the processes going on in our bank. They got in touch
with the bank employees and what is more important learned a lot about
Armenians", said Harutyun Poghossian, Head of Marketing and Quality
Department of ACBA Credit Agricol Bank. For Mary Ghazarian, Executive
Director of "EuroTerm" company, the AGBU offer was unexpected.

"Louisa perfectly substituted our employee who was on vacation. My
assessment of this project is very positive. Children from Diaspora
come to Armenia, get in touch with us and get acquainted with our
businesses", said the executive director.
It's a custom of the human condition for the masses to remain ignorant. It's what they do. In fact, that IS how "the peace" is kept. Whatever democracy we have here is a spectator's sport.
Armanen
 
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Location: Arnor

Postby Armanen on Wed Aug 22, 2007 7:43 pm

ARMENIAN ECONOMY GROWS 12 PERCENT IN JANUARY-JULY

FreshPlaza
Aug 21 2007
Netherlands

Yerevan, August 20 /Armenpress/ Armenia's economy grew 12.1 percent
in January-July from a year ago to 1.3 trillion Armenian Drams.

Armenian Statistical Service said industrial output grew a slight
1.3 percent to 389 billion Drams.

It said power generation not counted, industrial output was 318.5
billion Drams, 0.2 percent higher from a year ago, while diamond
industry output not counted, it grew almost 9 percent to 385 billion
Drams.

The Statistical Service said in January-July Armenian power plants
produced almost 3.6 billion kilowatt/hour electricity, 1 percent down
from a year ago. It also said agriculture grew 2.2 percent to 212
billion Drams. The biggest growth was again in construction which
saw 254 billion Drams in investments.

The retail trade grew 11 percent to 435 billion Drams. Population
incomes grew 27 percent to 1.4 trillion Drams and expenses grew 23
percent to almost 1 trillion Drams.

Almost 780 billion Drams were spent on purchase of goods and services.
It's a custom of the human condition for the masses to remain ignorant. It's what they do. In fact, that IS how "the peace" is kept. Whatever democracy we have here is a spectator's sport.
Armanen
 
Posts: 179
Joined: Tue Feb 27, 2007 6:13 am
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