Author: Kanayan Tamar

Azeri Press Agency, Azerbaijan
July 5 2007

Rene van der Linden: I regret to say that Azerbaijan-Armenian match
did not take place

[ 05 Jul 2007 16:41 ]

`I regret to say that Azerbaijan-Armenian match did not take place’,
Parliamentary Assembly of the Council of Europe president Rene van
der Linden was quoted by APA as saying.

PACE President René van der Linden said UEFA decision on cancelling
Azerbaijan-Armenian matches was unexpected. PACE persident emphasized
that sport helps to expand relations between nations. `Sport is too
interesting field. Sport has power to develop inter-people
relations’.
After the draw Azerbaijan wished to hold the matches in neutral zone.
The other side voted for Baku and Iravan to hold the matches. UEFA
Executive Committee decided to cancel the matches after meeting in
Herenven, Netherlands. /APA-Sport/

The Messenger, Georgia
July 4 2007

Armenian Economy Growing, Inflation a Risk

By M. Alkhazashvili
(Translated by Diana Dundua)

Armenia’s economic indicators are looking better than other states in
the region, although they are also facing inflation increases, stated
IMF representative Marta Castello-Branco in Yerevan July 2, according
to the news agency Regnum.

So far this year, economic growth and tax revenues are exceeding
predictions, while inflation is under control-for now.

In 2007, state tax incomes will amount to 15.2 percent of GDP, writes
Regnum. Inflation is beginning to rear its head-costs on wheat are
rising, and budget expenses will increase in the second half of the
year.

To ensure healthy economic growth with low inflation, Castello-Branco
said, Armenia must continue with structural reforms, improving tax
administration and weeding out corruption.

Research has revealed that the shadow economy in Armenia is worth 30
percent of the real economy.

The national currency, the AMD, is growing stronger. From the
beginning of the year up to July 1, the AMD rose from 357 to the
dollar to 338. Despite harm done to exports, the IMF says there’s no
serious concern, reports Regnum.

THAT WOULD BE STRANGE, IF SERBIA SUPPORTED INDEPENDENCE OF NKR
By Aghavni Haroutiunian

AZG Armenian Daily
04/07/2007

"There is no difference between the conflict in Nagorno Karabakh and
that in Kosovo," Boris Tabic, President of Serbia, said this during
the meeting at the CE Political School. "Day.az" agency informed about
this. Tabic commented on his statement saying that one shouldn’t give
independence to Kosovo, as this may be dangerous for the territorial
integrity of Georgia, Azerbaijan and other states. Moreover, President
of Serbia stated that the independence of Kosovo might destabilize
the region.

ECONOMY OF ARMENIA REMAINS "COMPETITIVE ON THE WHOLE"
By Ara Martirosian

AZG Armenian Daily
04/07/2007

In order to preserve the competitiveness, the Government of Armenia
should invest additional efforts, according to the Head of IMF
delegation in Armenia

After the meeting with the representatives of RA Government, Central
Bank, International donors and Armenian businessmen, the Head of
International Monetary Fund (IMF) mission’s Armenian group Ms. Marta
Castello-Branco met with the reporters in Armenia, on July 2.

Summarizing the recorded indexes of Armenian economy of the first 5
months of 2007, she stated that the indexes remained "impressive",
as the growth of GDP exceeded the expectations and the inflation was
consonant with the purposeful index.

According to the representative of IMF, Armenia is notable for
its combination of high economic growth and low inflation in the
region. Armenia has recorded progress in tax-collecting sphere,
though there are more opportunities of progress in this sphere.

Ms. Marta Castello-Branco stressed the importance of preserving the
high rates of the economic growth and the urgency of further reducing
of poverty.

At the same time she expressed concern over the rapid rise of wheat in
international market, which might have an influence upon the economic
growth index of Armenia.

The economic growth index may be influenced also by Central Bank,
which buys dollar to reduce the rapid shakings of currency value.

The next possible factor on the economic growth index is that fewer
expenses are run up in the first half of this year and the increase
in the expenses of the second half of this year may record surplus
inflation.

There are three main issues in the economy of Armenia according to
IMF representative of Armenia: the amendments in pension system,
gas subsidization and competition of economy.

IMF welcomes the new project of the Armenian Government to improve the
pension system. The pensions are very low in Armenia at present. It’s
necessary to increase the subtractions for the pensions and to raise
the pensions. It may also influence the inflation index.

The next issue is the subsidization of gas, as the subsidization time
of the gas ends by the end of 2008, and after it the gas prices will
rise rapidly. There is a big threat that the consumer prices will also
have a rapid rise influenced by the gas prices. IMF representative
advised the Government to reduce the subsidization gradually. And
also to subsidize only socially not provided strata.

The issue of the competition of Armenian economy is connected with
the valuation of Armenian dram. In spite of a great number of inflows
of foreign currency, which have a negative influence on some export
spheres and the households that are dependent on private transfers,
the IMF records that the economy of Armenia remains "competitive on
the whole". In order to preserve the competitiveness, the Government
of Armenia should invest additional efforts to improve the business
environment and to increase the productivity.

High-yielding securities of Valletta company to shortly enter the
start-up market of corporate bonds

arminfo
2007-06-30 00:22:00

High-yielding securities of Valletta, one of the leading multi-industry
Armenian companies, will shortly enter the start-up market of debt
instruments. Today, an agreement on formation of a group for placement
of inaugural issue of the bonds was signed at the ArmSwissBank. The
underwriting syndicate comprised ArmSwissBank, which is the main
underwriter of the issue, as well as Conversebank, Armenian Development
Bank (ADB) and Future Capital Market, an investment and broker’s
company. On behalf of the syndicate, an agreement on guaranteed
placement of bond loan was also signed between the issuing company and
ArmSwissBank. It is planned to hold the procedure of securities’
registration in the Central Bank of Armenia (CBA) next week.

The ArmSwissBank press-service told ArmInfo correspondent that the
volume of issue of undocumentary coupon bonds of Valletta will total
350 mln AMD. This amount will be divided into 7 thsd securities; the
nominal value of each will be 50 thsd AMD. The period of the bond
turnover is 18 months with 10.5% of yearly interest. Coupon payments
will be carried out once every six months. The bonds are secured by the
Valletta’s property and stipulate supplementary guarantees by the
company’s owners.

According to the Chairman of ArmSwissBank’s Board, Gevorg Machanyan,
the issue of Valletta’s bonds is unprecedented for the Armenian market
not only because the issue considerably exceeds the bonds traded in the
market by its volume and profitability, but also by its mechanism of
initial placement through forming of an underwriting syndicate. Under
the agreement, ArmSwissBank is to purchase bonds worth 175 mln AMD,
Conversebank – 75 mln AMD, ADB and Future Capital Market – 50 mln AMD
each. "In late July, the securities will be listed at the Armenian
Exchange (ArmEx), and they will enter the REPO market. Initially we
were going to put the bonds on the secondary market, that’s why
ArmSwissBank was granted license for broker’s, dealer’s and depositing
activities," G.Machanyan noted. According to his estimations, at the
moment the demand for Valletta LLC’s bonds in the secondary market
totals about 150- 200 mln AMD. "We managed "to form" a maximally
convenient and attractive instrument for investors both by yield and
liquidity," the Head of the bank said. He added that the bank is ready
to secure the liquidity constantly. To note, the interest rate on bonds
exceeds the treasury curve by 4-4.5% at the mean. G.Machanyan pointed
out that this won’t be the only issue of the company. In August, the
company is planning to organize a new issue of bonds. According to the
business plan, the company intends to hold three issues worth a total
of $7 mln in 2007.

The manager of Valletta’s financial programs, Anna Gevorgyan, told the
ArmInfo correspondent that the funds received from the inaugural bonded
debt will be spent on restructuring of financing sources and
reduction of the value of the company’s loan proceeds, as well as on
capital investment in implementation of new programs; a small part of
the money will be spent on replenishment of floating funds.
"Restructuring, i.e. reduction of the value of loan proceeds has become
one of the strategically important tasks of our company which is
conducting quite successful and diversified business," A.Gevorgyan
emphasized. According to her, capital investments will be directed to
creation of a network of cafes of the world famous Italian company
Segafredo Zanetti in Armenia on a franchising basis. The floating funds
are to increase the import component of the company’s activity and form
sufficient commodity stocks for further development of the retail
market in the person of Star, the largest network of supermarkets in
Armenia, affiliated with Valletta.

To note, Valletta holds the 33rd place on the list of the largest
Armenian tax payers. A number of processing industries, restaurants, a
network of stores, as well as firms engaged in import of household
equipment, operate within the framework of the company. On the basis of
its financial condition, the company was rated ‘B-‘ by CBA specialists.

According to the data of ArmInfo, ArmSwissBank, which was established
in 2005, is developing in investment, corporate and private banking.
According to the financial accounting as of early April, the total
capital of the company was $8.6 mln, assets – $25.8 mln, financial
investments of them totalled $8.9 mln.

DELAYED-ACTION MINE: TBILISI HAS FOUR YEARS LEFT TO ORGANIZE MESKHETIAN TURKS’ RETURN IN
by Anatoly Gordiyenko, Yuri Simonjan

Agency WPS
DEFENSE and SECURITY (Russia)
Source: Nezavisimaya Gazeta, June 26, 2007, p. 6
June 29, 2007 Friday

Meskhetian Turks’ Return To Georgia May Foster Another Conflict;

Eager to be admitted into the Council of Europe, Georgia promised
to accept the Mekhetian Turks on its territory again. Tbilisi is now
trapped by the promises it made.

The parliament of Georgia adopted in the first reading the draft law
"On repatriation of victims of removal from Georgia in the 1940’s".

The matter directly concerns the Meskhetian Turks, also known as
Moslem Meskhs, removed from the districts of Georgia on the border
with Turkey into Central Asia in 1944. Josef Stalin decided that the
Meskhetian Turks were loyal to Germany and its ally, Turkey.

Their return to Georgia became one of the conditions on which Georgia
was admitted into the Council of Europe in the 1990’s. Tbilisi pledged
to keep its word by 2011. Failure to do so may cost Georgia membership
in the Council of Europe.

Parliamentary debates over the issue were heated and scandalous
but the draft law was adopted all the same. In the meantime, the
parliamentary majority cannot celebrate a victory yet. The issue
may well split society. After all, Georgia who pledged to receive an
entire group of people does not exactly have the territory for it.

Samtskhe-Javakhetia, the region from whose nearly 200 villages the
Meskhetian Turks were removed in less then twenty-four hours in 1944,
received its new population (Adjarians from the mountains) under
Stalin. Besides, nearly 150,000 Armenians have been living there since
time out of mind. Experts warn that all of this may create another
conflict, this time one with religious undertones. Even the part of
the population that backs the authorities in general objects to the
compact settlement of repatriated persons anywhere in Georgia.

Van Baiburt, deputy of the Georgian parliament and one of the leaders
of the Armenian diaspora, confidently claims that no repatriates
will return to Javakhetia and that there is no reason to fear an
ethnic confrontation.

"One thousand families at best may count on permanent residence here,"
Baiburt said and added almost 100 families had already done so in
the last decade. Twenty of them settled in the town of Samtredia
in the western part of the country and the rest in the Aspind and
Adigen districts.

Enemies of the draft law in the meantime claim that authorities do
not even know what the Mekhetian Turks’ return to Georgia may result
in because they never bothered to try and analyze the consequences.

Zviad Dzidziguri, leader of the Conservative Party of Georgia, calls
the document "a delayed-action mine". "The opposition will do its
best to have the matter settled at a nationwide referendum," he said.

"The authorities only care about the 100 million euros the Council
of Europe promises for the repatriation project. Historic justice is
the furthest thing from their minds."

Georgy Khaindrava, former state minister for conflict settlement,
appraises the situation as grave. "Society is split over the issue,
and that is putting it mildly," Khaindrava said. "Bearing in mind the
procedures one has to pass to obtain citizenship in Georgia (language,
history, and constitution tests), we should actually expect between
25,000 and 30,000 repatriates. Even that is more than Georgia can
hope to cope with."

300,000 people without the native land

The International Society of the Meskhetian Turks Vatan registers
nearly 300,000 people. Almost 100,000 of them reside in the Caucasus,
Rostov, Stavropol, and Krasnodar (Russia), approximately as many
again in Kazakhstan, nearly 80,000 in Azerbaijan. Approximately 20,000
aspire for immigration into the United States and 5,000 are already
there. Only about 1,000 Meskhetian Turks have returned to Georgia
so far.

LET’S WAIT FOR ARMEN RUSTAMYAN

Hayots Ashkharh Daily – Armenia
29 June 07

Terry Davis Goes Beyond All The Limits

As we know Council of Europe Secretary General Terry Davis announced
recently that the international community won’t recognize NKR
Presidential election returns. The European official also underscored
with "regret" that Karabakh people are worthlessly enthusiastic about
the hypothetic idea of making the Kosovo model a precedent for the
regulation of Karabakh conflict.

In this circumstance, wouldn’t it be appropriate for Armenian
delegation in PACE, participating in the assembly in Strasburg,
to express its attitude regarding Davis’s irrelevant announcement.

"I strongly believe our parliamentary delegation, especially Amen
Rustamyan a person skilled in Council of Europe activity, will
certainly raise this question and only after his return can we clarify
and comment on this issue." Hrayr Karapetyan assures.

AUSTRALIAN ENTREPRENEUR TO REALIZE NEW INVESTMENT PROGRAMS IN NKR

DeFacto Agency, Armenia
June 29 2007

June 28 the Nagorno-Karabagh Republic President Arkady Ghoukassian
received an American entrepreneur and philanthropist from Australia
Hakop Abulakian.

According to the information DE FACTO received at NKR President’s Press
Office, in the course of the meeting the entrepreneur had informed
the state’s head of his intention to expand economic activity in
Karabagh and realize new investment programs.

Because of interruption of internet service at the Prelacy offices we were
unable to transmit this issue of Crossroads yesterday. Please note that the
June 28th issue is being sent to you on Friday, June 29

JUNE 28, 2007

12th ANNIVERSARY OF ANOINTMENT AND ENTHRONMENT
OF CATHOLICOS ARAM I THIS SUNDAY
The 12th anniversary of the anointment and enthronement of His Holiness Aram
I, Catholicos of the Great House of Cilicia, will be celebrated throughout
the Eastern Prelacy with special services offering good wishes for the
Pontiff (Hairabedakan Maghtank), this Sunday, July 1.

PRELATE WILL BE IN NEW JERSEY
The Prelate, Archbishop Oshagan Choloyan, will preside over the Divine
Liturgy and officiate over the special services marking the 12th anniversary
of the anointment and enthronement of Catholicos Aram I, at Sts. Vartanantz
Church in Ridgefield, New Jersey, this Sunday, July 1.

VICAR WILL BE IN PHILADELPHIA
Bishop Anoushavan Tanielian, Vicar, will attend the Divine Liturgy at St.
Gregory the Illuminator Church in Philadelphia this Sunday, July 1.
Immediately thereafter he will travel to Elverson, Pennsylvania, for the
beginning of the St. Gregory of Datev Institute.

21ST ANNUAL ST. GREGORY OF DATEV INSTITUTE SUMMER PROGRAM
Seventy-seven students (mostly ages 13-18) from thirteen parishes, and eight
clergymen, will gather at the St. Mary of Providence Center in Elverson,
Pennsylvania, on Sunday, July 1, for the 21st annual weeklong St. Gregory of
Datev Institute Summer Program, under the directorship of Bishop Anoushavan
Tanielian.

Sponsored by the Armenian Religious Education Council (AREC) of the Prelacy,
the Summer Program offers a unique opportunity for our youth to learn the
essentials of Armenian Christianity in a wholesome and nurturing
environment. Each day the program begins with Morning Service from
7:15am-7:45am. Four classes are held from 8:30am to 12:30pm. In the
afternoons, the students enjoy recreational activities, such as volleyball,
soccer, basketball, and swimming. In addition, there will be occasional
excursions to the French Creek Park for canoeing, to a movie theatre, and
historical sites. In the evenings, there is a general lecture from 7:30 to
8:20, followed by three concurrent Bible studies from 8:30-9:30 for
different age groups. The day comes to a close with the Compline Service
(Husgoom) from 9:45-10:30pm.

The Instructors of the Institute this year are: Bishop Anoushavan Tanielian,
Very Rev. Fr. Daniel Garabedian, Rev. Fr. Khoren Habeshian, Rev. Fr.
Antranig Baljian, Rev. Fr. Nerses Manoogian, Rev. Fr. Sarkis Aktavoukian,
Dn. Shant Kazanjian, Dn. Nishan Baljian, Dn. Arsen Mekaelian, Ms. Jeanette
Nazarian, and Ms. Nayiri Baljian.

This year the Institute is privileged to have two guest instructors: Rev.
Fr. Paul Tarazi, Professor of Biblical Studies and Biblical Languages at St.
Vladimir’s Orthodox Theological Seminary (New York, Crestwood), and Rev. Dr.
George Leylegian.
For more information about the Datev Institute, please visit the Prelacy
website at or contact the AREC
office at 212 689-4481.

Photo: On Wednesday, June 27, ³datevatsies² from the NY-NJ area came to the
Prelacy office to put together program material for the seventy-seven
participants of the weeklong St. Gregory of Datev Institute Armenian
Christian Studies Program.

SEMINAR ON BOOK OF REVELATIONS DURING DATEV
A three-hour seminar on the Orthodox understanding of the Book of
Revelations will be presented by Father Paul Tarazi, Professor of Old
Testament at St. Vladimir¹s Orthodox Theological Seminary, on Saturday, July
7, during the Datev program at St. Mary of Providence Center, Elverson,
Pennsylvania. Father Tarazi is a member of the faculty of the Datev
Institute. This seminar is open to all and is sponsored by the Prelacy¹s
Armenian Religious Education Council (AREC) and the Christian Education
Committee of St. Gregory Church, Philadelphia.

Father Tarazi, a specialist in Scriptural studies in Old and New Testament
and Biblical Hebrew, is noted for his dynamic speaking style and his ability
to hold an audience¹s interest while explaining complex issues. He has
written several commentaries on the Bible including one on the Book of
Revelations.

Registration is required. Fees are nominal. For details click here:
< tm.>

CILICIAN SEMINARY CONCLUDES ACADEMIC YEAR
Graduation ceremonies concluded the 77th academic year of the Theological
Seminary of the Holy See of Cilicia. The ceremony took place June 21 in
Bikfaya, Lebanon, where the Seminary is located, under the auspices of His
Holiness Aram I.

V. Rev. Fr. Shahe Panossian, dean of the Seminary, presented the graduates
to His Holiness, who conferred the diplomas. In his message he stressed the
importance of being high expectations and encouraged the graduates to be
attentive to quality, preserving the spirit that the Seminary gave them
which they should take to various areas of their future service.

IN CELEBRATION OF THE YEAR OF THE ARMENIAN LANGUAGE=8A
To read the message of His Holiness in Armenian click here
< ical.htm>.
To read the message of His Holiness in English click here
< m>.

His Holiness Aram I, Catholicos of the Great House of Cilicia, has
designated 2007 as the Year of the Armenian Language. In celebration of this
year-long tribute, each week we will offer an interesting tidbit about the
Armenian language and literature:

Today, June 28, as noted below, is one of two days in the Armenian
liturgical calendar honoring the Holy Translators.

Catholicos Sahag Bartev was the son of St. Nerses the Great. He received his
primary and higher education in Caesarea and Byzantium. He was a very
learned and literary person who guided Armenia¹s Golden Age following the
invention of the Armenian alphabet. He was a mentor and supporter of St.
Mesrob in his quest for an alphabet.

St. Mesrob was born in the province of Daron. He learned Greek and Persian
at an early age, and came to realize the vital need of an alphabet for the
Armenian language. According to tradition, while meditating in a cave near
the town of Palu, he had a vision where ³the hand of God wrote the alphabet
in letters of fire.²

The first words to be translated into Armenian were from the Book of
Proverbs: ³That you may know wisdom and instruction, and understand words of
insight=8A.² (Proverbs 1:2)

DAILY BIBLE READINGS
Bible readings for today, July 1, are: Isaiah 2:5-11; Romans 9:30-10:4;
Matthew 13:24-30.

What then are we to say? Gentiles, who did not strive for righteousness,
have attained it, that is, righteousness through faith; but Israel, who did
strive for the righteousness that is based on the law, did not succeed in
fulfilling that law. Why not? Because they did not strive for it on the
basis of faith, but as if it were based on works. They have stumbled over
the stumbling stone, as it is written, ³See I am laying in Zion¹s stone that
will make people stumble, a rock that will make them fall, and whoever
believes in him will not be put to shame.²

Brothers and sisters, my heart¹s desire and prayer to God for them is that
they may be saved. I can testify that they have a zeal for God, but it is
not enlightened. For, being ignorant of the righteousness that comes from
God, and seeking to establish their own, they have not submitted to God¹s
righteousness. For Christ is the end of the law so that there may be
righteousness for everyone who believes. Romans 9:30-10:4

For listing of the entire week¹s Bible readings click
here< 07.htm#062807>.

HOLY TRANSLATORS SAINTS SAHAG AND MESROB
Today, June 28, the Armenian Church remembers the Holy Translators, Sts.
Sahag Bartev and Mesrob Mashtots. The feasts dedicated to the Holy
Translators are among the most popular and beloved celebrations for the
Armenians. Their lives are commemorated two times during the liturgical
year, on the Thursday following the fourth Sunday after Pentecost (which is
today), and on the second Saturday of October.

KING TIRIDATES, QUEEN ASHKHEN, PRINCESS KHOSROVITOUKHT
This Saturday, June 30, the Armenian Church celebrates King Tiridates
(Drtad), Queen Ashkhen, and Princess Khosrovitoukht. After torturing and
condemning St. Gregory to the pit and because of his fatal treatment of the
Hripsimeyan nuns, King Tiridates became inflicted with strange maladies. His
wife, Ashkhen, and his sister, Khosrovitoukht (who had already secretly
accepted Christianity) convinced the king that only Gregory could cure him.
Gregory was released from the pit. With the king¹s subsequent recovery, all
three helped to spread Christianity throughout the land. In their later
years, the queen and the princess lived in the fortress of Garni and the
king retired to St. Gregory¹s final place of retreat, Mt. Sebouh.

NEW ON THE PRELACY WEB PAGE
Photographs from the three celebrations in honor of the 40th anniversary of
the ordination of Archbishop Oshagan. Click
here< uets/trireg06.html>.

Press release and photographs from the National Representative Assembly.
Click here <; .

THE FOURTH OF JULY
Next Wednesday, July 4, we celebrate the 231st anniversary of the United
States Declaration of Independence. Thomas Jefferson was 33 years old when
he wrote the draft of the Declaration of Independence as a member of a
committee that included John Adams and Benjamin Franklin. Some changes were
made, but the final document remained primarily the work of Jefferson. It
was the most daring document every produced at a time when it was unheard of
a fledgling, divided country made up of thirteen separate colonies having
the boldness (some would say audacity) to produce a document against the
most powerful country of the time with demands for ³certain unalienable
rights, that among these are life, liberty, and the pursuit of happiness.²

Every American should read this document once a year. July 4th would be the
perfect time.

REMEMBERING CATHOLICOS KAREKIN I
Tomorrow, June 29, is the 8th anniversary of the passing of His Holiness
Karekin I, Catholicos and Supreme Patriarch of All Armenians, 1995 to 1999;
Catholicos of the Great House of Cilicia from 1977 to 1995; and Prelate of
the Eastern Prelacy from 1973 to 1977.

³Throughout the duration of the life of any Christian, he or she remains a
child or child-like. That is to say, a Christian is always a student.
Childhood is not only a matter of age, just as learning is not only a matter
of the school term or year. Education is an indispensable part of our
everyday life. In the same way, learning the Christian faith is not a matter
of a desk or classroom=8A. Everything is changeable in the world, except the
breath of God and His mark is within all of us. Those who seek it will find
it. Christ said, the sky and country will end, but my words will never end.²
Karekin I (1999)

CALENDAR OF EVENTS

July 1-8=8BSt. Gregory of Datev Institute, 21st annual summer Christian
studies program for junior and senior high school students, at St. Mary of
Providence Center in Elverson, Pennsylvania. For information Click here
< gt;.

July 7=8BSt. Gregory Church, Indian Orchard, Massachusetts, gathering at the
home of the parish priest, Rev. Father Bedros Shetilian.

July 9 to July 20=8BSt. Sarkis Church Summer Camp, Douglaston, New York, for
ages 5 to 12. Prayers and hymns, Armenian classes, introduction to the
bible, arts and crafts, sports, and much more. Monday to Friday, 10 a.m. to
3:00 pm. Lunch and snack will be served. Summer camp is sponsored by Mr. and
Mrs. Antranig and Marion Boudakian. Enrollment limited to 30 students.
Registration deadline June 5. Minimum donation $75. For information,
718-224-2275.

July 21=8BSts. Vartanantz Church Ladies Guild, Providence, Rhode Island, and
ARS Ani Chapter present ³A Hye Summer Night 2.² For information
401-286-8107.

August 7=8BSoorp Asdvadzadzin Church, Whitinsville, Massachusetts, annual golf
tournament at Blackstone Country Club. For information
<; or
508-234-3677.

August 12=8BSts. Vartanantz Church, Providence, Rhode Island, annual church
picnic at Camp Haiastan, Franklin, Massachusetts. For information
401-831-6399.

August 19=8BSoorp Asdvadzadzin Church, Whitinsville, Massachusetts, annual
church picnic. For information
< anchurchofwhit.org/> or 508-234-3677.

September 9=8BAnnual picnic of St. Gregory Church of Merrimack Valley at
American Legion Grounds in Haverhill, Massachusetts.

September 25=8BHoly Trinity Armenian Apostolic Church, Worcester,
Massachusetts, 4th annual golf outing at Juniper Hill Golf Course,
Northboro, Massachusetts. Registration at 8 am. Tee off at 9 am. $125
includes golf cart, dinner and prizes. For information 508-852-2414.

September 27=8BSts. Vartanantz Church, Ridgefield, New Jersey, 5th Annual Golf
Outing at River Vale Country Club, River Vale, New Jersey. Registration
begins at 11 a.m. and tee time at 1 p.m. For information, 201-943-2950.

September 29=8BSoorp Asdvadzadzin Church, Whitinsville, Massachusetts, 50th
anniversary banquet at Pleasant Valley. For information
<; or
508-234-3677.

October 21=8BSt. Gregory the Illuminator Church, Philadelphia, celebrating the
20th anniversary of the ordination of Rev. Fr. Nerses Manoogian, under the
auspices of the Prelate, Archbishop Oshagan. For information
<; or
215-482-9200.

November 4=8B37th anniversary of St. Gregory Church of Merrimack Valley and
ordination of Nishan Dagley to the office of acolyte and stole bearer.
Presided over by His Grace Bishop Anoushavan Tanielian, Vicar General of the
Prelacy.

November 10-11=8BSts. Vartanantz Church, Providence, Rhode Island, annual
³Armenian Fest,² at Rhodes-on-the-Pawtuxet, Cranston, Rhode Island. For
information 401-831-6399.

December 1=8BSoorp Asdvadzadzin Church, Whitinsville, Massachusetts, annual
church bazaar. For information
< anchurchofwhit.org/> or 508-234-3677.

December 9=8BSt. Stephen¹s Church, Watertown, Massachusetts, 50th anniversary
celebration. For information, (617) 924-7562.

Web pages of the parishes can be accessed through the Prelacy¹s web site.

To ensure the timely arrival of Crossroads in your electronic mailbox, add
[email protected] to your address book.

Items in Crossroads can be reproduced without permission. Please credit
Crossroads as the source.

Parishes of the Eastern Prelacy are invited to send information about their
major events to be included in the calendar. Send to:
[email protected]

EDUARD AGHAJANOV: IN CONDITIONS OF HALF THE ECONOMY OPERATING IN "SHADOW", GOVERNMENT CAN EASILY INCREASE BUDGETARY REVENUES

Noyan Tapan
Jun 28, 2007

YEREVAN, JUNE 28, NOYAN TAPAN. An increase in the RA budgetary
expenditures envisaged by the new program of the government is quite
realistic, economist Eduard Aghajanov said at the June 28 press
conference. According to him, by official data, 35% of the Armenian
economy operates in "shadow", while in reality over half the economy is
"shadow": under these conditions, in order to collect 9 billion drams
into the state budget, the government only needs to display a political
will and determination in the fight against the shadow economy.

In his words, in Armenia the degree of a businessman’s success depends
on the degree of his being close to power. Most of the businessman’s
profit goes to the pocket of his "roof", and it is the "roof" that
does not allow him to be taxed. The economist noted that he knows a
lot of businessmen who would prefer to operate in the legal field.

E. Aghajanov considered a considerable increase of pensions as a
possible step. There are 530 thousand pensioners and 460 thousand
working people in Armenia. According to the economist, it means that
on one hand, the number of pensioners is exaggerated, on the other
hand, some part of the workers are engaged in the shadow sector and do
not make payments to the pension fund. If the authorities take these
workers out of the shadow sector and register pensioners, a 60-70%
increase of pensions is quite realistic.

Although 2007 is a pre-election year, E. Aghajanov did not rule out
the possibility of a GDP growth. He reminded that under conditions
of presidential and parliamentary elections, a high index of economic
growth (14%) was registered in the country in 2003.