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AMD DEVALUATION DID NOT STIMULATE EXPORTS FROM ARMENIA
Vestnik Kavkaza, Russia
Dec 23 2014
23 December 2014 - 6:09pm
The fall of the dram did not become an incentive to increase exports
from Armenia, as claimed by the central bank of the country, on the
contrary: at the end of November and in December, exports fell by
18%, the chairman of the "Union of Armenian Exporters" Raffi Mkhchyan
said today.
According to the expert, exporters of agricultural commodities
initially could not benefit from the devaluation of the dram, as the
national currency also devalued on the main export market in Russia.
Mkhchyan noted the presence of economists predicting such fluctuations,
whose opinions, however, are not heard. He refused to associate
the impairment of the dram with the situation in Russia, noting
that Armenia has a lot of internal problems that have affected the
financial market, Epress.am reports.
The negative picture was also worsened due to speculations of certain
people, "if it continued longer, the speculation could have led to
even greater panic."
Regarding exports, the chairman of the Union of Armenian Exporters said
that industrial products dominating by up to 65%, the food industry
- 20-25%, and information technology has the rest, which has a lot
of potential.
Food produced in Armenia might not delight abroad, and basically
it is consumed in Germany by Armenians living there, Raffi Mkhchyan
concluded.
http://vestnikkavkaza.net/news/economy/63739.html
From: Baghdasarian
Vestnik Kavkaza, Russia
Dec 23 2014
23 December 2014 - 6:09pm
The fall of the dram did not become an incentive to increase exports
from Armenia, as claimed by the central bank of the country, on the
contrary: at the end of November and in December, exports fell by
18%, the chairman of the "Union of Armenian Exporters" Raffi Mkhchyan
said today.
According to the expert, exporters of agricultural commodities
initially could not benefit from the devaluation of the dram, as the
national currency also devalued on the main export market in Russia.
Mkhchyan noted the presence of economists predicting such fluctuations,
whose opinions, however, are not heard. He refused to associate
the impairment of the dram with the situation in Russia, noting
that Armenia has a lot of internal problems that have affected the
financial market, Epress.am reports.
The negative picture was also worsened due to speculations of certain
people, "if it continued longer, the speculation could have led to
even greater panic."
Regarding exports, the chairman of the Union of Armenian Exporters said
that industrial products dominating by up to 65%, the food industry
- 20-25%, and information technology has the rest, which has a lot
of potential.
Food produced in Armenia might not delight abroad, and basically
it is consumed in Germany by Armenians living there, Raffi Mkhchyan
concluded.
http://vestnikkavkaza.net/news/economy/63739.html
From: Baghdasarian