The Respublika Abkhazia paper publishes materials on a press conference of Abkhaz Prime Minister Artur Mikvabia, where he said that the Russian-Abkhaz Intergovernmental Commission introduced amendments to the Investment Program. The total three-year financing will amount to 9.313 billion rubles. The financing volume this year will drop because part of the funds will be shifted to 2016 and 2017. The prime minister motivated the adjustment by the nationwide discussions of the alliance treaty with Russia, which slowed down the process of budget adoptiong, defering the launch of the Investment Program of 2015 in the first six months. The republic cannot disburse the funds planned, hence they will be shifted.
The republic will disburse 3.771 billion rubles in 2015, 3.327 billion rubles in 2016, 2.215 billion rubles in 2017. 1.806 billion rubles of the sum will be spent on construction and reconstruction of multi-apartment building and beautification of territories, 1.675 billion rubles on reconstruction of udnerground communications, 1.120 billion rubles on education. The rest of the money will be assigned to develop roads, energy, reconstruct administrative buildings, develop healthcare, culture and other sectors. In the prime minister's words, the program of financing projects via the republic's own funds stipulates about 200 million rubles in three years.
Furthermore, the algorithm collaboration with Russian bankers includes beneficial loans amounting to an overall 1.2 billion rubles granted for 5-10 years to develop the real sector of economy of Abkhazia at a rate of 10% annually. The interest will be paid according to the opening of buildings. The projects include construction of vegetable greenhouses using thermal waters, production of expanded clay blocks, food services.
At a recent meeting with the Rosneft head, Igor Sechin, the prime minister discussed construction of a modern oil base in Sukhumi, a hotal in Pitsunda, participation of the company in infrastructure projects and upkeep of Abkhaz students in Moscow using scholarships granted by Rosneft.
Concluding the press conference, Mikvabia admitted that Abkhazia could not do without Russia's support. 'First, we need to create modern market instruments for development of the country. We are talking about a switch to a treasury-based financing system, a taxing reform, a state statistical organization and a lot of other things,' he said.
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'Efficient combating of monopolies in Armenia requires political will and courage,' the Delovoy Express daily quotes Suma Chakrabarti, the president of the European Bank for Reconstruction and Development, at a press conference in Yerevan. The shadow economy and existence of monopolies are the main obstacles for attraction of investments, Armenian authorities need to show will and courage to overcome them, the EBRD chief believes. In his words, improving the competitive potential of the country requires a better investment climate to attract local and foreign investors, requires coordinated reforms in the customs and the tax systems, strengthening of the ati-monopoly commission, a new action plan. Chakrabarti said that the country needed a business ombudsman, as he had mentioned two years ago. The economist admitted that the fight against monopolies had started indeed. As an example, the EBRD pointed out Georgia, where the situation in the early 2000s had been similar to that of Armenia. The goal of the EBRD, in his words, is to consult and provide tecnical and investment assistance.
Mark Davis, the head of the EBRD office in Yerevan, noted that the growing credit financing of the economy was an effective way to eradicate monopolies. He clarified that over 60% of the total credit portfolio of the country's banking system belonged to credit financing of the economy in 2015, compared to 9% in 2009. Businessmen uninvolved in monopoly circles given an opportunity to find additional financial resources and develop business. According to Davis, that was the reason for EBRD's special attention to small and medium-scale business. Experts of the World Bank had earlier dubbed the Armenian economy as the most monopolized among post-Soviet and Eastern European states.
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The Dagestanskaya Pravda paper says that the construction of the Kaspiyskiy Bereg (Caspian Coast) factory for fish processing was founded in the Kizlyarsky District of Dagestan. The facility will have a capacity of 6,000 tons of fish.
The district has realized the first stage of the aquatic enterprise for breeding sturgeons, the Dagestan Full-System Industrial Fish Farm. The project was financed by private investments of the Amser Co. from Saint Petersburg. The enterprise will grow 120 tons of fish a year. The specialized incubation facility will produce up to 3 million sturgeon fries which will be released into the Caspian Sea. The enterprise sold 218kg of black caviar for 11.5 million rubles in 2014 and paid 890,000 rubles of taxes. The factory has 18 workers and plans to increase their number to 85.
The Kaspiysky Bereg factory worth 190 million rubles will be launched in Q2 2016. The factory will cover 3,800 square meters. It will employ about 120 people. Amsar director general Constantine Shcherbakov noted that the facility was fully compatible with the Russian strategy of fishing development until 2020. He noted that the company was planning to provide financial assistance in the form of purpose loans to fishing companies in need of money. According to their information, Dagestan caught only 1,000 out of the 7,000 tons of fish planned in 2014. 'We will help them financially, they will [help] us with raw,' said Shcherbakov.
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The first European Games that will open in Baku on June 12 has become one of the main topics in Azerbaijani press. Alexander Zhukov, the president of the Russian Olympic Committee, deputy chairman of the State Duma, has been to Baku many times. He praised the readiness of Azerbaijan for such a high-scale event in an inter view with the Yeni Zaman paper. In his opinion, the sports arenas, the accomodation conditions of athletes and official delegations, all the infrastructure meet the highest standards. In his opinion, it is unsurprising because Azerbaijan has been hosting different political, economic, cultural and sports organizations in the past several years at the top level.
He had vivid impressions from the presentation of the Baku-2015 Europeans Games in Moscow a month ago. 'The presentation was splendid. The chairwoman of the Organizing Committee of the Games, the First Lady of Azerbaijan, Mehriban Aliyeva, made a spectacular speech. Everyone present could once again admire the beauty of Baku and ascertain that the Games would be held on the top level,' considers Zhukov.
He said that the Russian team was actively preparing for the Games. The formation of the team started in 2014. Soon, the Russian Olympic Committee will sign the final lists. About 350 Russian athletes will perform in Baku. Traditionally, the House of the Russian Team will open, presenting the country's sports history. Russian athletes will participate in practically all kinds of sports events, including beach soccer, volleyball, 3x3 basketball.
'The potential of our team is great, there are recognized leaders, there is promising, ambitious youth. The Russian beach soccer, sambo, wrestling, sport gymnastics and rhythmic gymnastics teams have good chances for gold. But that is certainly not the comprehensive list,' assures the head of the Olympic Committee.
