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Armenia could be impacted by new potential economic crisis? - newspaper
March 02, 2013 | 07:57
YEREVAN. - Shockwaves were recorded in international markets on Friday
morning. And these were conditioned on the possible cuts in US budget
spending, and the not-so-promising indicators recorded in Chinese
economy, Haykakan Zhamanak daily reports.
`As a result, the raw material prices began to fall sharply at stock
exchanges. This is significant for Armenia in the sense that the
international prices for oil and copper are dropping.
The fall in the price of oil could result in a reduction of the
remittances being sent from Russia [to Armenia], as it occurred in
2009. This is important because the total amount of the remittances
incoming to Armenia is comparable with Armenia's state budget.
And the drop in the prices of copper - and of non-ferrous metals, in
general - impacts Armenia's foreign trade balance severely, since a
significant part of the goods being exported from Armenia are
non-ferrous metal ores,' Haykakan Zhamanak writes.
- See more at: http://news.am/eng/news/142687.html#sthash.TR2LKU21.dpuf
March 02, 2013 | 07:57
YEREVAN. - Shockwaves were recorded in international markets on Friday
morning. And these were conditioned on the possible cuts in US budget
spending, and the not-so-promising indicators recorded in Chinese
economy, Haykakan Zhamanak daily reports.
`As a result, the raw material prices began to fall sharply at stock
exchanges. This is significant for Armenia in the sense that the
international prices for oil and copper are dropping.
The fall in the price of oil could result in a reduction of the
remittances being sent from Russia [to Armenia], as it occurred in
2009. This is important because the total amount of the remittances
incoming to Armenia is comparable with Armenia's state budget.
And the drop in the prices of copper - and of non-ferrous metals, in
general - impacts Armenia's foreign trade balance severely, since a
significant part of the goods being exported from Armenia are
non-ferrous metal ores,' Haykakan Zhamanak writes.
- See more at: http://news.am/eng/news/142687.html#sthash.TR2LKU21.dpuf