Science & Education

Memorandum on cooperation in education sector signed in Armenia

YEREVAN, September 25. /ARKA/. A memorandum about cooperation on secondary and vocational education was signed by Armenian Minister of Education and Science Armen Ashotyan, Chairman of Union of Manufacturers and Businessmen Arsen Ghazaryan and Chairman of Chamber of Industry and Commerce Martin Sargsyan.

The aim of the memorandum is to help adapt educational services to the needs of today’s domestic labor market.
The memorandum is to considerably raise the quality of secondary and vocational education, introduce innovative technologies and strengthen employer-employee relationship, Ashotyan said.

Arsen Ghazaryan, in his turn, said that comprehensive studies of local labor market showed lack of qualified personnel and skilled workers in particular.

Before to start working all workers attend additional training at factories and plants, which affects efficiency of operations, Ghazaryan said.

Ashotyan stressed the importance of the signed document in making educational service meet the real market needs.
Same kind of reforms is to be implemented in higher education field, Ashotyan said. –0—

25/09/2009 11:22



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 11/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 391.41 1.47
Euro EUR 1 534.67 5.09
Russian Rоublе RUR 1 13.29 0.17

Favorable еxchange rates of banks 11/03/2010
Currency Buy Sell
USD 390.5
Armenian Development Bank
392.5
“ArmSwissBank”
Euro 531
ACBA-CREDIT AGRICOLE BANK
537
ACBA-CREDIT AGRICOLE BANK
Cascade Bank
“ArmSwissBank”
RUR 13.1
Ardshininvestbank
BTA Bank
13.25
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2009-12 85.6
GBP, billion AMD 2009-12 3165.5
inflation, % 2010-01 101.7
Budget deficit (proficit), bln AMD 2009-12 148.3
trade deficit, mln USD 2009-12 -2606.4
foreign trade turnover, mln USD 2009-12 4001.9
foreign trade turnover, % 2009-12 73
Gross External Reserves, mln. USD 2009-12 2003.41
Monetary base, billion AMD 2009-12 511.7
Money supply, billion AMD 2009-12 815

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-01 14.8
Legal entities in USD 2010-01 13.5
Individuals in AMD 2010-01 22
Individuals in USD 2010-01 17.6
Anual interests on deposits
Legal entities in AMD 2010-01 6.5
Legal entities in USD 2010-01 5.4
Individuals in AMD 2010-01 9.1
Individuals in USD 2010-01 5.3
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-01 8.8

The percents of the CBA
Indicator Term Figures
Banking rate 2010-03 13
Repo 2010-03 6.5
Credit 2010-03 9.5
Depo 2010-03 3.5



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