Economy

OIL:  BRENT - 85.77+1.79 WTI - 83.98+2.10
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FOREX:  USD/JPY - 113.67+0.16 EUR/GBP - 1.1644-0.01
FOREX:  EUR/USD - 1.1644-0.01 GBP/USD - 1.3767-0.13
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October, 2021
October 2021
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Suren Karayan. goal is to bring in the coming five years the share of exports in the GDP structure up to 45%
19/05/2017 20:02

Suren Karayan. goal is to bring in the coming five years the share of exports in the GDP structure up to 45%

Today, at the working meeting with the President of Armenia, the Acting Minister of Economic Development and Investments Suren Karayan reported on the results in the area of export development and attraction of investments as well as about future works.

Suren Karayan noted that the Ministry is working to preserve the positive dynamics of economic indicators for the first months of year 2017 and to provide for the future sustainable development. According to the Acting Minister, the Ministry has set a goal to bring in the coming five years the share of exports in the GDP structure up to 45%. Acting Minister Karayan informed that towards that end studied were industrial areas which possess export potential and development programs of the enterprises. The later received the necessary assistance from the state to be able to utilize that potential. There also has been created a list of import substituting goods; if sufficient support is provided, they can compete with the imported goods.

Acting Minister Karayan reported to the President on the works aimed at entering new markets and strengthening and expanding the positions on the already existing markets. He spoke, in particular, about the promotion of the Armenian goods at the Eurasian Economic Union market, their introduction at major trade chains, steps towards the creation of the EEA common market and establishment of joint production chains. At the meeting, the parties discussed also the measures and prospects for the utilization of Armenia’s export potential in the framework of the European Union’s GSP+ preferencial trade system. According to Suren Karayan, works are underway for a wider use of the export toolbox and in case of necessity for the enhancement of its efficiency.

Acting Minister Karayan informed the President that the program on the improvement of business climate in Armenia for year 2017 has already been drafted. It is expected that after the implementation of the envisaged measures, other things being equal, Armenia’s rating at the World Bank’s Doing Business report will rise from 38 to 26, registering a 12-point improvement. According to Mr. Karayan, the aim is to position Armenia in the next 4-5 years among the top 20 countries of that rating.

The Acting Minister of Economic Development and Investments reported to the President of Armenia also on the process of drafting a new RA law On Foreign Investments which will provide new guarantees for the protection of investments.
Suren Karayan spoke also about the programs related to the investment attractiveness and potential presentation of potential investments and particularly of the platform for investment programs which at the moment presents 55 investment projects. He also informed the President on the process of creating investment funds. According to S. Karayan, the Syunik free trade zone, which has been created to attract investments, will start functioning in fall of 2017.

The report of Suren Karayan included also the works carried out by the Ministry in the area of tourism. According to the report, the number of internal tourists will double by the year 2020.

The President of Armenia issued relevant instructions.

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AMD Rates
10:50 25/10 Buy Sell
AMD / USD 474.00 479.50
AMD / EUR 551.00 558.00
AMD / RUR 6.73 6.87
dollars
dollars
CBA Rates
25/10/2021
USD / AMD
476.48
+0.00%
EUR / AMD
554.77
+0.00%
RUR / AMD
6.75
+0.00%
GBP / AMD
657.69
+0.00%
Cryptocurrencies
10:50 25/10
BTC/AMD
29,490,157
+1.46%
BTC/USD
61891.70
+1.46%
ETH/USD
4121.67
+2.52%
BCH/USD
622.36
-1.72%
XRP/USD
1.09
+0.00%
LTC/USD
193.26
-0.04%
ETH/BTC
0.06660027
+0.91%
BCH/BTC
0.01002214
-3.54%
XRP/BTC
0.00001761
-1.40%
LTC/BTC
0.00311831
-1.65%
CBA Metals
25/10/2021
dram / gram
Gold
27257.43
+0.00%
Silver
371.18
+0.00%
Platinum
15977.91
+0.00%
FOREX
10:50 23/10
EUR/USD
1.1644
-0.01%
GBP/USD
1.3767
-0.13%
USD/JPY
113.67
+0.16%
EUR/GBP
0.8455
+0.25%
Oil
10:50 23/10
$ / barrel
Brent
85.77
+1.79%
Light Sweet
83.98
+2.10%
COMEX
10:50 23/10
$ / tr. oz
Gold
1793.10
+0.29%
Silver
24.39
+0.49%
Platinum
1043.50
-1.19%
LME / 3M
10:50 23/10
$ / tonne
Aluminium
2957.00
-2.20%
Copper
9870.00
-0.65%
Nickel
20220.00
-1.25%
Tin
37100.00
-0.80%
Lead
2396.00
+0.67%
Zinc
3444.50
-2.81%
Molybdenum
45000.00
+0.00%
Cobalt
56545.00
+0.00%
Indexes
10:50 23/10
point
Dow Jones
35677.02
+0.21%
S&P 500
4544.90
-0.11%
NASDAQ
15090.20
-0.82%
FTSE
7204.55
+0.20%
CAC 40
6733.69
+0.71%
DAX
15542.98
+0.46%
RTSI
1877.99
+0.53%
Nikkei
28600.41
-0.71%
Topix
1995.42
-0.34%
Hang Seng
26132.03
+0.02%
SSEC
3609.86
+0.76%
CBA Interest Rates
26/03/2020
Refinancing
Refinancing Rate
7.25
+0.00%
Lombard Repo
Lombard Repo Rate
8.75
+0.00%
Deposit
Deposit Rate
5.75
+0.00%
Macroeconomy
08/2021
CEA
Coefficient of Economic Activity
+8.90%
Ind. Prod. 3
Volume of Industrial Production
1,415.7
+1.00%
Export 1
Export
1,912.0
+21.8%
Import 1
Import
3,090.6
+7.70%
CPI
Consumer price index
+6.40
Avg. Salary 2
Average salary
197,881
+5.4%
Services 3
Volume of services
1,192.0
+5.30%
Construction 3
Volume of construction
205.3
+7.30%
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