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Central Bank: By 1 April 2016 overdue loans in Armenian banks grew by 22.5% over year

Mass Media: Bodyguards of Transport Minister detained under case over beating of businessman's son Sergey Abovyan

Stepanakert: The territories the Armenian side lost in April were mostly part of the buffer zone around Nagorno Karabakh

Federica Mogherini says next annual Eastern Partnership Foreign Ministers' meeting will be held in spring of 2017

Seyran Ohanyan has not met with Samvel Babayan

PACE Co-rapporteurs: Those responsible for atrocities in Karabakh conflict zone should be held fully accountable

Expenses of Armenian President's Administration up 10% in 2015

Prime minister: Supply of Russian weaponry to Armenia launched

Serzh Sargsyan and Seyran Ohanyan to discuss Karabakh problem in presidential residence tonight

Two-fold growth of loan restructuring applications registered in VTB Bank (Armenia)

Head of Armament Unit of Armenia's Armed Forces dismissed

Sharmazanov: Genocide of Christians in Ottoman Turkey, IS actions and Azerbaijani aggression have same handwriting

Ex-president of Armenia included in list of candidates for election to the new Board of Directors of JSFC Sistema

Mammadyarov: Status quo in Karabakh conflict may lead to severe military clashes

Trial over case of the cardboard tank that "crashed" into NSS building is still going on

Tatoul Manaseryan: Top power branches have a great number of caterpillars

Штормовой ветер срывал крыши домов и не на шутку напугал жителей Еревана

Armenian President attends ceremony of unveiling of Memorial to Marshal Hamazasp Babajanian

Bostanjyan calls for reducing all expenses having no crucial significance to state

OSCE PA Special Representative for South Caucasus arrives in Armenia

Seyran Ohanyan: Territories lost during April war were part of Artsakh

Armenian Defense Ministry responds to media reports about dismissal of commander of Mataghis regiment

Greek Defense Minister: Nagorno Karabakh conflict should be settled exclusively through peaceful means

Armenia and China discuss issue to boost cooperation

Baku trying to shift responsibility for April flare up in Karabakh onto Armenian side

Azerbaijani armed forces fire at Azerbaijani-Armenian border

Vice Speaker of Armenian Parliament: Due to parity in international statements on Karabakh problem, the peace process has been going round in a circle for nearly 20 years

Criminal case over embezzlement at ENA CJSC sent to court with a crime sheet

On May 21 as many as 112 museums of Armenia to open their doors to visitors from 6 pm till midnight

Average life expectancy for Armenia is 74.8 years, according to World Health Statistics: Monitoring Health for the SDGs

Samvel Farmanyan: Agramunt is not the politician to have any influence on Karabakh conflict settlement

Lydian International: financing package of Amulsar program is approved. Construction will launch in upcoming months

Serzh Sargsyan: April war has once again proved unity of our nation in its pursuit of liberty and protection of independence

Azerbaijan breached ceasefire agreement using various small arms

ACBA Leasing participates in "Week of Economic Capacities" as financial partner

Bako Sahakyan addressed to participants of 2nd forum of Armenian Political Parties launched in Stepanakert

Stepanakert rejects Baku's accusations of alleged use of prohibited shells with white phosphorus

EEU Prime Ministers agreed on establishing common market of petroleum and petroleum products and terms of adopting new common customs code

Armenian president presented to EEU prime ministers latest developments around Nagorno-Karabakh problem

Parliamentary opposition is skeptical about Armenian Prime Minister's intention to fight corruption

Loss of 800 hectares by Armenian side causes stormy debates at Armenian Parliament

Zhirayr Sefilyan says he is ready to assume authority for restoring Karabakh's territorial integrity by force

Dmitry Medvedev: My second visit to Armenia within a month speaks of the high level of the allied relations of Yerevan and Moscow

Beeline Communication Museum to join Museum Night event

Russian foreign ministry: Sargsyan and Putin will probably meet in Astana on May 31

Inhabitants of Garni and Goght demand from Hovik Abrahamyan and Ishkhan Zakaryan to cancel construction of irrigation systems designed for their own needs

PACE Chair: "All conflicts must be solved within the territorial integrity of the countries"

EEU Summit of Prime Ministers due to commence in Yerevan

Nagorno Karabakh disclaims Azerbaijan's allegations

Analyst: Baku got green light to unleash April aggression basing on principle "take whatever you can, we will not allow your defeat"

Regional

Robert Kocharyan: The regime able to forget personal interests is doomed to success

  • by Nana Martirosyan

  • Friday, August 29, 21:58

 It is not clear so far how much Armenia's accession to the Eurasian Economic Union will affect the country's regional economy [commodity turnover with Iran and Georgia], Robert Kocharyan, the second president of Armenia, says in an interview with Noyan Tapan.  

Assessing the current economic situation in the country, Robert Kocharyan said that there are neither internal nor external reasons for optimistic assessment so far. "In addition, new global threats have emerged, and their effects are yet to be assessed. How will the West's sanctions against Russia affect the global economy, Russia's economy? Will they increase sanctions? It is not clear so far how much Armenia's accession to the Eurasian Economic Union will affect the country's regional economy [commodity turnover with Iran and Georgia]. And finally, is the single customs area technologically possible amid the West's sanctions against Russia. There are either no answers to these questions, or there are just suppositions. This means that we have entered a phase of negative anticipations," the politician said.

   Kocharyan thinks that economic growth and job creation is what the government must focus on to recover the country's economy, meanwhile, they just seek to replenish the budget at any cost. 

"There is need for a healthy competitive business environment, which is impossible unless the economic is de-monopolized despite the appetites of the influential statesmen and their relatives.  It is necessary to give a clear signal to the public that any business initiative is welcome and will be supported, no matter whose interests it will touch. To this end, it is necessary to create effective market mechanisms.  They should put aside their personal interests at least for a few years, if forget them at all. Any regime able to do that is simply doomed to success. By the way, they must stop breaking the working weeks with numerous religious holidays. It is necessary to return to the former clock zone. It is not normal to start the working day at 9:00am in August, when it sunrise is at 6:00am and sunset - at 8:00pm. It is a forced slowdown, not acceleration," he said.

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