Science & Education

Funding of Armenian science is planned to increase 10 times by 2020 up to 2% of GDP of the country

YEREVAN, November 5. /ARKA/. Funding of Armenian science is planned to increase 10 times by 2020 up to 2% of GDP of the country", said Radik Martirosyan, President of Academy of Sciences to the journalists on Wednesday.

According to the draft budget plans to allocate 0,2% of GDP or less than 1% from the part of expenses in 2010 which is about 8 billion drams. “The planned allocations are not enough for the development of science. In Armenian the state allocates 3 thousand EURO for each scientist and in European countries it makes about 120-130 thousand EURO”, he said. Strategy of science development till 2020 was elaborated, according to which funding of science is planned to reach to 2% in 2020.

But the provision of the given indicator will be problematic and will fully depend on the economy and development of its priority directions. “Provision of all the envisaged indictors will allow to raise the level of Armenian science up to European standards”, said Martirosyan. ($1 – 387.56 drams). --0—

05/11/2009 09:34



Market USD exchange rates
Market EUR exchange rates
Market exchange rates 12/03/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 392.62 1.21
Euro EUR 1 540.01 5.34
Russian Rоublе RUR 1 13.40 0.11

Favorable еxchange rates of banks 15/03/2010
Currency Buy Sell
USD 394
ArmBusinessBank
396
Ameriabank
Ardshininvestbank
Areximbank-Gazprombank Group
“ArmSwissBank”
Euro 540
“ArmSwissBank”
546
Ameriabank
RUR 13.35
BTA Bank
13.5
ACBA-CREDIT AGRICOLE BANK
Ameriabank

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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