EU Commissioner: EU will continue to contribute to economic  development of Armenia

 Thursday, May 16 2024 21:18:00
EU Commissioner: EU will continue to contribute to economic  development of Armenia

ArmInfo. On May 16, Prime Minister of the Republic of Armenia Nikol Pashinyan received  EUCommission Executive Vice-Preside,Trade Commissioner Valdis  Dombrovskis.

CBA: services and construction to remain main drivers of economic  growth in 2024; positive trends to be observed in industry
 Tuesday, October 31 2023 19:39

ArmInfo. In 2023, Armenian economic growth is projected at 7.2%, and next year it will be 5.6%.  Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated  on October 31 during a press conference.

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Vahan Kerobyan: Economy Ministry`s budget to increase by 47% in 2024
 Tuesday, October 31 2023 19:36

ArmInfo. The budget of the Ministry of Economy of Armenia for 2024 will be 92.2 billion drams,  which is 47% higher than a year ago. Minister of Economy of Armenia Vahan Kerobyan stated on October 31 at the RA NA  Standing Committees discussions on the draft state budget for 2024.

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Construction of various sections of INSTC to continue in 2024 -  Minister
 Tuesday, October 31 2023 18:15

ArmInfo.In 2024, construction of various sections of the The International North-South Transport Corridor (INSTC)  will continue. Minister of Territorial Administration and Infrastructure of the Republic of Armenia Gnel  Sanosyan stated on October 31 at the RA NA  Standing Committees discussions on the draft state budget for 2024.

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Vahan Kerobyan: Armenia`s tourism budget grown 6.5-fold over past 3  years
 Tuesday, October 31 2023 18:15

ArmInfo.The tourism budget in 2024 will be 13.2 billion drams. Minister of Economy of Armenia Vahan Kerobyan stated on October 31 at the RA NA Standing Committees' hearings on the draft state budget of the country for 2024. In this regard, he emphasized that over the past 3 years, the tourism budget  in Armenia has increased 6.5-fold.

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Vahan Kerobyan: For the first time in history of Armenia, trade  volumes to exceed GDP
 Tuesday, October 31 2023 18:14

ArmInfo. Trade relations with Russia are important for us - we are developing them, but at the same time we are spending enormous resources, time and effort to diversify foreign trade relations in other areas. Armenian Minister of Economy Vahan Kerobyan told reporters during a briefing on October 31.

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Vahan Kerobyan: Armenian-American metallurgical plant in Yeraskh to  be relocated
 Tuesday, October 31 2023 18:13

ArmInfo. Despite the shelling by the Azerbaijani armed forces in direction of the Armenian-American metallurgical plant under construction in Yeraskh (Ararat region), the project continues to be implemented. Armenian Minister of Economy Vahan Kerobyan announced to journalists on October 31 during a briefing.

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Minister: There is hope for quick removal of Armenia`s civil aviation  from  EU `black list`
 Tuesday, October 31 2023 18:09

ArmInfo. One of the main tasks of the Armenian government in the field of civil aviation is to remove it from the "black list" of the European Union. The Minister of Territorial Administration and Infrastructures Gnel Sanosyan stated on October 31 at the RA NA Committees hearings on the draft state budget of Armenia for 2024.

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Construction of new Yerevan underground station to be launched next  year - minister 
 Tuesday, October 31 2023 13:56

ArmInfo. Work on the construction of a new Yerevan metro station will begin in 2024, RA  Minister of Finance Vahe Hovhannisyan told reporters on October 31.

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No getting rid of shadow economy - Rustam Badasyan
 Tuesday, October 31 2023 13:55

ArmInfo. It is impossible to completely get rid of the shadow economy, but minimizing its impact  on the development of Armenia is one of the primary tasks of the State Revenue Committee of the Republic of Armenia. Chairman of the State Revenue Committee Rustam Badasyan stated this on October 31 at  a hearing in the commissions of the National Assembly of the Republic of Armenia on the draft state budget of the country for 2024.

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Armenia`s minister of finance on effective risk management plans 
 Tuesday, October 31 2023 11:59

ArmInfo. The implementation of the capital expenditure program provided for by the state budget  of Armenia in 2023 will not differ much from the indicators in 2022, RA Minister of Finance Vahe Hovhannisyan stated on October 31 at a hearing on the draft state budget of Armenia Vahe Hovhannisyan, in  response to a question by MP Tadevos Avetisyan of the opposition Armenia. 

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IT companies included in Armenia`s largest taxpayer list replenished  state treasury by AMD 59 billion 
 Monday, October 30 2023 21:57

ArmInfo.69 IT companies that were included in the list of 1000 large taxpayers replenished the  state treasury by 59 billion drams in Jan-Sept 2023. This was reported by the press service of the Ministry of High-Technological Industry, citing data from the Modex agency.

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Minister of Finance: Armenia`s GDP growth by the end of 2023 to be  about 7.2%
 Monday, October 30 2023 21:50

ArmInfo.In 2023, Armenia will ensure economic growth of 7.2%; the main driver of growth will remain the service sector. Minister of Finance of Armenia Vahe Hovhannisyan stated on October at a parliamentary committee hearing on the 2024 budget. In this regard, he recalled that the draft budget for 2024 includes a growth rate of 7%.

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Pashinyan: Armenia`s 2024 state budget revenue part to be doubled  compared to 2018
 Monday, October 30 2023 12:56

ArmInfo. In terms of the revenue part of the 2024 budget, the RA budget will double compared  to 2018. Prime Minister of the Republic of Armenia Nikol Pashinyan stated on October 30 at a parliamentary committee hearing on the draft state budget of the Republic of Armenia.

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If you love the Motherland, strengthen the State - Nikol  Pashinyan
 Monday, October 30 2023 11:20

ArmInfo.Regional and international tensions pose serious threats to Armenia, Armenia's Premier Nikol Pashinyan stated at a hearing of the 2024 draft budget in Armenia's Parliament.  

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Eurowings low-cost carrier launches Berlin-Yerevan-Berlin direct  flights 
 Saturday, October 28 2023 13:45

ArmInfo.In 2024, the German airline Eurowings will launch direct flights on the Berlin-Yerevan-Berlin route. This is stated in a message of the German Embassy in Armenia on its Facebook page.

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EDB, RAU launch PPP research and training programme
 Friday, October 27 2023 14:59

ArmInfo. The Eurasian Development Bank (EDB) and Russian- Armenian University (RAU) are launching  collaborative research and training programmes focusing on public-private partnerships (PPP). A relevant memorandum was signed by Denis Ilin, EDB Senior Managing Director, and Sergey Kapinos, RAU  Vice- Rector for International Cooperation, the Banks press service reports.

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Novostal-M to plans to open its representative office in Armenia
 Friday, October 27 2023 13:29

ArmInfo. The large Russian metallurgical holding Novostal-M intends to open its representative  office in Armenia. On October 26, a seminar was held for the professional community on the technical features of new types of reinforcement and the possibilities of their use in construction projects in Armenia, during which specialists from the Russian company presented innovative products - high-strength reinforcement of type A550SK, as well as the advantages of its use in terms of seismic resistance.

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Armenia interested in Black Sea Energy project 
 Friday, October 27 2023 13:27

ArmInfo. Armenia is interested in the Black Sea Energy project, the Armenian and Hungarian FMs, Ararat Mirzoyan and Peter Szijjarto, stated at a joint press conference. 

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EDB bonds are listed on the Armenia Securities Exchange, whose trading infrastructure was modernised with a grant from the Bank
 Friday, October 27 2023 12:13

ArmInfo. The debut issue of three-year EDB bonds, denominated in US dollars, was included in the Armenia Securities Exchange’s (AMX) Abond main list as of 26 October 2023. Prior to that, the exchange’s infrastructure was modernised with a grant provided by the Eurasian Development Bank’s (EDB) Technical Assistance Fund, resulting in more than doubling the total value of listed securities. Nikolai Podguzov, Chairman of the EDB Management Board, made this announcement during his visit to Armenia.

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UK-Armenia business forum held in London
 Friday, October 27 2023 12:09

ArmInfo. On October 26, 2023, the United Kingdom-Armenia Business Forum was held in London,  UK. 

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News
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Ambassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEUAmbassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEU
EBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEsEBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEs
Thanos Arvanitis: The time has come for Armenia to accelerate reformsThanos Arvanitis: The time has come for Armenia to accelerate reforms
Armenia to host 33rd EBRD Business Forum with flagship sponsorship of ArdshinbankArmenia to host 33rd EBRD Business Forum with flagship sponsorship of Ardshinbank
EAEU economic operators will become more recognizable when carrying  out foreign economic activitiesEAEU economic operators will become more recognizable when carrying  out foreign economic activities
Martin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decreaseMartin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decrease
About 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economyAbout 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economy
92% tax revenues recorded in Armenia in 1st quarter of 2024 92% tax revenues recorded in Armenia in 1st quarter of 2024 
IDBank issues the 2nd tranche of dollar bonds of 2024IDBank issues the 2nd tranche of dollar bonds of 2024
Armenia to be next country to host ACE programArmenia to be next country to host ACE program
Armenia agrees to EBRD expansion Armenia agrees to EBRD expansion 
Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure developmentAlkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
Government writes off 469 financial obligations of Artsakh citizens  on loans secured by goldGovernment writes off 469 financial obligations of Artsakh citizens  on loans secured by gold
Food products, services cause of 0.8% inflation in Jan-Apr 2024 Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenia`s Deputy Premier receives IMF delegationArmenia`s Deputy Premier receives IMF delegation
Armenian Economy Minister travels to USA on week-long working visitArmenian Economy Minister travels to USA on week-long working visit
Armenia is trapped in Armenia is trapped in "Dutch disease" - economist
“By Your Side”: IDBank`s new support program for displaced Artsakh citizens“By Your Side”: IDBank`s new support program for displaced Artsakh citizens
Team Telecom Armenia develops Be Free packageTeam Telecom Armenia develops Be Free package
Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of servicesArmenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services
Large crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 millionLarge crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 million
Eurowings launches Berlin-Yerevan-Berlin flightsEurowings launches Berlin-Yerevan-Berlin flights
Russia bans sugar exports; 28 thousand tons allowed to be exported to  ArmeniaRussia bans sugar exports; 28 thousand tons allowed to be exported to  Armenia
The Power of One Dram to the Road of Life Charitable OrganizationThe Power of One Dram to the Road of Life Charitable Organization
EBRD to provide Armenia with EUR 9.3 million to support green  technologiesEBRD to provide Armenia with EUR 9.3 million to support green  technologies
WB recommends Armenia to develop investment strategy; revise  20-year-old sectoral lawWB recommends Armenia to develop investment strategy; revise  20-year-old sectoral law
In Jan-March 2024, Armenian state budget revenues increased by AMD41  billion y-o-yIn Jan-March 2024, Armenian state budget revenues increased by AMD41  billion y-o-y
Ardshinbank CJSC has announced about the launch of a new  refinancing business loanArdshinbank CJSC has announced about the launch of a new refinancing business loan
WB expert on lack of economic diversification in terms of trade  partners and export products of Armenia WB expert on lack of economic diversification in terms of trade  partners and export products of Armenia 
EAEU agreement on mutual recognition of documents on academic degreesEAEU agreement on mutual recognition of documents on academic degrees
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