Economy

Duty free store chain (Armenia) to be audited this may

YEREVAN, March 18. /ARKA/. The Armenian store chain Duty Free will be audited by the European Union (EU) this May, Chief of the Head Civil Aviation Department of Armenia Artem Movsisyan told reporters.

He pointed out that the alcoholic beverages and perfumes purchased by Armenian passengers from the Duty Free stores in Armenia are not allowed to be transported as hand luggage to European countries.

“The EU audit in Armenia will allow the country to register the level of assurance for products to enable transit passengers to transport the goods purchased from the Duty Free store chain in Armenia as hand luggage to the third countries and to the EU states,” Movsisyan said.

According to him, the Duty Free chains in the EU, Croatia and Singapore are the only chains enjoying this privilege.

Movsisyan reported that numerous countries are expecting this audit so May is the approximate term of audit in Armenia.

Duty-free shops (or stores) are retail outlets that do not apply local or national taxes and duties.

Duty-free shopping is a bit of misnomer though because shoppers may still have to pay duties in their home country on items purchased from a duty-free shop. They are often found in the international zone of international airports, sea ports or onboard passenger ships.–0--

18/03/2009 19:40



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 02/09/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 365.03 1.29
Euro EUR 1 468.19 3.8
Russian Rоublе RUR 1 11.90 0.08

Favorable еxchange rates of banks 03/09/2010
Currency Buy Sell
USD 366
ProCreditBank
367.5
“ArmSwissBank”
Euro 467
Byblos Bank Armenia
ProCreditBank
472
ArmBusinessBank
Armenian Development Bank
RUR 11.85
"VTB Bank (Armenia)"
BTA Bank
12
ACBA-CREDIT AGRICOLE BANK
Ameriabank
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2010-06 106.7
GBP, billion AMD 2010-06 1332
inflation, % 2010-07 103.7
Budget deficit (proficit), bln AMD 2010-06 16.9
trade deficit, mln USD 2010-06 -1281.2
foreign trade turnover, mln USD 2010-06 2116.8
foreign trade turnover, % 2010-06 129.8
Gross External Reserves, mln. USD 2010-06 1780
Monetary base, billion AMD 2010-06 434.5
Money supply, billion AMD 2010-06 786.6

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-06 13.8
Legal entities in USD 2010-06 12.6
Individuals in AMD 2010-06 22.6
Individuals in USD 2010-06 19.2
Anual interests on deposits
Legal entities in AMD 2010-06 8.4
Legal entities in USD 2010-06 7.2
Individuals in AMD 2010-06 9.8
Individuals in USD 2010-06 5.4
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-06 9.6

The percents of the CBA
Indicator Term Figures
Banking rate 2010-07 13
Repo 2010-07 7.25
Credit 2010-07 10.25
Depo 2010-07 4.25



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