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One of protesters on Baghramyan Avenue sets himself to fire

Police cordon off Baghramyan Avenue, as protesters approach

Founding Parliament initiative to President Sargsyan: “Leave, otherwise you will face Ceausescu’s fate”

Demonstrators marching from Liberty Sqaure towards Republic Square

European Union concerned over latest developments in Yerevan

Activist Andrias Ghukasyan severely beaten up in detention facility

Richard Mills warns that Armenian law-enforcement officials responsible for human rights abuses could be sanctioned by the U.S. government

Albert Baghdasaryan: There is information that law enforcers have launched operation for neutralizing Daredevils of Sasoun

Sefilyan urged Armenian nation to become a human shield between police and territory of seized Police Station

Gunshots are heard and impact munitions used near seized Police station

Political forces of Armenia keep condemning last night's events, while Republican Party still silent

Police say police officer killed by sniper from area of seized police compound

Another member of Heritage Party Hovsep Khurshudyan detained

One of the medics held "hostage" by "Daredevils of Sasoun" group left the seized Police Patrol Service Regiment on July 29

U.S. Embassy urges Armenian government to take immediate steps to ensure violations of Armenians' constitutional and human rights do not recur

Armenian Police make statement: Leaders of protest action of July 29-30 resorted to sabotage and attacks

National Security Service of Armenia sets deadline for "Daredevils of Sasoun" to surrender: Otherwise they will be shooting at sight

More and more public and political organizations condemn past night's events in Yerevan

Prosecutor General's Office of Armenia initiates criminal case on fact of violence against journalists overnight into July 30 in Yerevan

Criminal charges brought against Heritage Party vice chairman Armen Martirosyan and activist Andrias Ghukasyan

EBRD to subscribe for 33,500,000 ordinary shares of Lydian International Limited at a price of C$11.39 Million

Jailed oppositionist Jirayr Sefilyan makes statement on recent events in Yerevan

Latest data from Healthcare Ministry: 73 people were hospitalized as a result of last night's events in Yerevan

Armenia's political forces and NGOs have already condemned last night's events in Yerevan

Armenia's Ombudsman: Police hinders detainees from meeting their lawyers

Deputy Chairman of Heritage Party Armen Martirosyan detained

Secretary General of CoE is concerned over events in Yerevan

According to Stratfor there is link between seizure of Police building in Armenia and negotiations over Nagorno-Karabakh settlement

Soldier of NKR Defense Army wounded

Oxfam jointly with EDRC summed up monitoring results of social service for lonely elderly programs

US Embassy to Armenia calls for immediate, safe, and unconditional release of medical personnel

Situation in Yerevan is relatively calm after clashes overnight

Supporters of Daredevils of Sasoun marching from Liberty Square to Khorenatsi Street

Protest of supporters of Daredevils of Sasoun kicks off on Liberty Square

Healthcare Ministry: Doctors, who are on territory of seized building, applied first aid to injured Araik Khandoyan

Helsinki Citizens' Assembly Vanadzor Office: Police has detained activists Albert Baghdasaryan and Hasmik Yevoyan

Armenian Police: Wounded members of Daredevils of Sasoun Artur Melkonyan and Armen Lambaryan are hospitalized

Beeline and Classical Music Development Foundation sup up annual results of cooperation

Armenian NSS informs about detecting new supporters of "Daredevils of Sasoun" group

Armenian Police: Two other members of Daredevils of Sasoun are wounded in firefight on the territory of the seized building

"Oxfam" Office in Armenia revealed certain omissions in "In-home social services for lonely elderly" program

Armenia's Police: Firefighting occurred on territory of Police Patrol Service Regiment-Araik Khandoyan is wounded

Armenian Ombudsman urges state bodies and public figures to activate efforts for eliminating any forms of human rights violations

VTB Bank (Armenia) is the first on Armenian market to launch money transfers via TelCell system

Journalist Levon Barseghyan to be released

Son of Arshak Sadoyan, member of Public Council, arrested over violence against police officer

Lawyer: Health condition of wounded Pavel Manukyan deteriorates, as he refuses food and medicines

Avaz Hasanov: Karabakh conflict can be settled by common consent, if Russia is left out of it

Director of Emergency Aid CJSC says wounds of members of "Daredevils of Sasoun" in territory of seized police regiment not heavy

Family of Monte Melkonyan addresses Serzh Sargsyan over arrest of Alek Yenigomshyan

Regional

Armenia's former prime minister: The indicator of the economic growth in Armenia is extremely low for the first half of 2014

  • by Alexandr Avanesov

  • Friday, July 25, 20:23

The indicator of the economic growth in Armenia is extremely low for the first half of 2014 versus the same period of 2013, the former prime minister of Armenia, a member of the parliament from the opposition Armenian National Congress, Hrant Bagratyan, wrote at his "Facebook" page.

He also added that in the first half of 2014 the GDP index was 3,4% versus the same period of 2013. The GDP index was 3,1% for the 1Q 2014. "So, we have just 0,3% "progress" and no economic growth. But how one can compare himself with the former government and say that the situation has improved a little?

The former government was simply a mistake and was drawing the wool over our eyes for 6 years, especially that there was almost no growth in the key branches of economy (industry, agriculture and construction). Export grew by 0.8%, and import - by 1.1%...The highest positive progress is noticed only in the sphere of services",  - Bagratyan said. 

He said that one can strictly assess the activity of the new government at the end of October of the current year, after six month of activity.  "However, today I can say that we were waiting for more but for the three month of activity the government made just a couple of reforming steps. For instance, it has started returning VAT to tourists...But is it hard to develop the economy of the country? We just need equal tax field for everybody. When we say that small and big business are equally taxated, we should understand that a big business has an effect of volume that should be neutralized.  Only after that, the field will become equal. The tax system should be changed fully and immediately. When giving tax privileges to micro business, we do not resolve the problem but worsen it. If there is no business, privileges are senseless. Actually, there is no business, as the tax field has not been equally distributed.

Let's touch on investments and state assistance. Stop relaying only on big plants (external and local) and on philanthropists! The country should be  built by people and investments should be decetralized. We have to attract the funds of millions of Armenians for development of the country through the investment funds and investment banks. The state should help to form clusters  and guarantee minimal profitability of certain strategic investments. Moreover, all the dominating and monopolist companies, banks, telephone operators, "Gasprom-Armenia", Kajaran, Tekhut, Agarak, Kapan. "City", "SAS", etc. should have a status of a OJSC and should be taken to auction at the stock market. Then, financial system should be separated from the state, and Central Bank should stop saving this or that bank and ensuring revenues for the budget.  And finally, local government bodies should have enough funds and should not beg Yerevan for money. I can continue the list. What hinders you to implement all this? Thanks to the reforms made at the beginning of the 90s, we had a double-digit growth for several years. But reserves ended in 2007. Now we need another approach. the previous government did not understand it. But what about the new one?", - Armenia's former prime minister asked. 

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