The recent fluctuations in the currency market have created heightened expectations among the Armenian population of the further devaluation of the dram. Experts say that if the Armenian national currency fails to respond to changes in the partner countries, such as Russia, Armenian goods may be losing competitiveness in the foreign markets.
While Armenia is seeking in the next two decades to triple the number of tourists it hosts, opening new hotels for the purpose, the country’s tourism industry still faces a lot of challenges, experts say.
The Armenian government promises to do everything to re-operate the Nairit plant because it says the struggling chemical giant’s bankruptcy and liquidation process will be costly and will require expensive solutions for safety and risk neutralization issues.
Although official statistics says that Armenia’s economy is more active in the first six months, the current economic indices create weak conditions, the World Bank notes in its monthly report about Armenia. The leading international financial institution points out the decline of economic activity in Q1 by 2.2 percent.
Positional changes are expected in Armenia’s most competitive economic sector, telecommunications, if the announced deal between local telecom company Ucom and French Orange on the sale of the latter’s Armenian branch takes place.
Exclusive talks on the sale of the wireless network are already underway, but there is no information yet about the time frame or size of the deal. But if it takes place, the number of operators in the Armenian market will be down by one.
The first court decision in Armenia ordering a journalist to disclose her source of information is gaining much international attention, but the Armenian government continues to ignore international calls in this regard.
Members of a commission drafting constitutional amendments consider the current Constitution to be more “favorable” for the so-called “reproduction of power” than the one they propose.
Still, at a press conference on Friday they advocated a public debate on the draft version of a number of chapters of the new Constitution revealed earlier this week.
At its weekly session Thursday, the Armenian Government reaffirmed its promise to repay back wages of Yerevan’s idling Nairit chemical plant workers. Employees, however, met the decision with skepticism, saying that they have been promised before, with no payoff.