FREE TO GROW: FOUNDATION SAYS ARMENIA LOOKING GOOD FOR ECONOMIC FREEDOM
An annual report published by the Heritage Foundation and The Wall Street Journal this week ranks Armenia in the 28th freest economy among 162 countries, showing that the country has climbed four steps on the ladder compared to the previous ranking. Armenia’s economy is 70.3 percent free, according to the 2008 Index of Economic Freedom (full report is available at www.heritage.org).
The assessment also makes Armenia the 15th freest economy among the 41 countries in the European region. By its score Armenia is shown as having freer economies than such leading European economies as Spain, Sweden, Austria, Italy and others.
The overall score of one percentage point higher than last year reflects some improvements in the investment regulations but an erosion of labor freedom, the report says.
Reacting to the report economist Tatul Manasaryan says that the investment climate here is hindered by corruption. “In terms of free economy Armenia has yet a long way ahead,” he says.
Armenia’s score puts it above Europe’s average assessed by experts as “an impressive feat for an impoverished landlocked country.”
The report mentions as Armenia’s great strength its investment climate, with few restrictions on foreign investment.
“Low tax rates, low government expenditure, and low revenue from state-owned businesses contribute to impressive fiscal and government freedom rankings. Inflation is low, and the banking sector is both wholly private and well regulated. Commercial regulations are flexible and relatively simple.”
At the same time, the report indicates that “Armenia could still make some improvement in property rights and freedom from corruption. The judiciary is fairly weak and subject to political interference.”
By its index Armenia is the leader in the region, trailed by Georgia (32nd spot), Turkey (74th spot), Azerbaijan (107th) and Iran (151st).
Overall, ten factors were considered in the analyses, including business freedom, trade freedom, fiscal freedom, freedom from government, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption, and labor freedom.
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FADING HERITAGE: FRESCOES OF THE FAMOUS PAINTER FALL IN OBLIVION
Ani Hakobyan
- 1830 Following Sultan Mahmood's decree and the advice of the French, British, and Russian ambassadors, the Armenian Catholics in Turkey were given a Patriarchate and their own administrative organization.
- 1888 Birth, in Constantinople, of the actor Vahram Papazyan. He is considered to have no equal in the Armenian theater.
- 1906 Birth of composer Ashot Satian. He died in 1958.
- 1911 Birth of theater personality Gevorg Ashughyan.
- 1990 Start of hostilities between Armenian and Azeri Turkish forces near Raskh.
- 2001 The French Senate recognizes the 1915 Genocide of the Armenians in the Ottoman Empire.
- State Dept.'s David Kramer Owes an Apology for Misusing "Anti-Semitism" Card Against Armenia
- Ter-Petrossian had a meeting with the neo-fascist Turkish leader Alparslan Türkes
- levon ter petrosyan : a foreign agent
- The strategic research centre makes sensational revelations
- Open Letter to John Hughes who is the "agent in chief of the supposed "information" media armenia now which is 100% financed by the CIA.
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