ArmInfo.

ArmInfo. The EU will allocate 11 million euros for the next 5 years to implement the Resilient Syunik  (R2D) project.  Head of the EU mission to Armenia Vassilis Maragos stated during an event dedicated to the launch of the program.  

ArmInfo. In the city of Kapan, Syunik region of Armenia, a modern sports complex will be built on  the site of the old stadium. At a meeting on June 6, the RA government recognized the lands and property of the current stadium as a priority public interest.

ArmInfo. In Armenia, the growth of economic activity in January-April 2024 accelerated to 13.2% per  annum (from 12.2% in the same period of 2023). But unlike last year, now the driver of growth is not only the trade sector, but also the industrial sector. As evidenced by the final data of the RA Statistical Committee, this was accompanied by continued high growth rates of exports and imports.

ArmInfo. A meeting was held under the chairmanship of the Prime Minister of the Republic of  Armenia Nikol Pashinyan, during which a package of bills adopted by the National Assembly in the first reading was discussed, proposing to revise the turnover tax rates.

ArmInfo.The main tourist flow to Armenia last year was formed from Russia, Georgia, Iran, the USA, Germany, France, Ukraine, China and Belarus. Acting Head of the Tourism Committee Susanna Hakobyan announced at a meeting with Prime Minister Nikol Pashinyan. According to her, n exceptional increase in the total  number of tourist visits was recorded in 2023, 2,317 thousand people, an increase of 40% compared to January-December 2022.

ArmInfo. The Board of the Central Bank of Armenia, adhering to the policy of protecting individuals  from currency risks, on May 24, 2024 decided to cancel the official clarification No. 1 to Article 7 (parts 5/1 and 8/1) of the Law "On Currency Regulation and Currency Control" introduced on March 11, 2007, according to which commercial banks were also allowed to issue card loans (including credit lines and overdrafts) in foreign  currency.

ArmInfo.Some problems arose during the implementation of the first sanitary landfill construction  project in the Kotayk region of Armenia. RA Minister of Territorial Administration and Infrastructure Gnel Sanosyan stated on June 5 in the National Assembly of the Republic of Armenia during the discussions on the implementation of the country's 2023 state budget.

ArmInfo.Russia's experience in building underwater fiber-optic link may be relevant, including for  Armenia. This was stated by Alexey Ordin, Digital Attache of the Trade Mission of the Russian Federation in Armenia, during a press conference on June 5. "This is a good field for developing bilateral  technological cooperation," he said.

ArmInfo. YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to cheap prices of the most  demanded food products. Thus, in May 2024 compared to May 2023, food products decreased in price by 1.1%, almost repeating last year's decline of 1.2%. Moreover, butter, buckwheat, pasta, flour, cereals,  cheeses, fish, sugar, and meat fell in price most noticeably. 

ArmInfo. Despite the 3.7% increase in the gross agricultural output of Armenia in the first quarter of this year  (87.3 billion drams), according to official statistics, the growth rate of industry has been low, almost stagnant, in recent years.  According to experts, such a deplorable situation in the country's agricultural sector is not accidental and is associated with serious structural economic and demographic shifts over the past 10-15 years.

ArmInfo.

ArmInfo. The EU has allocated 2.9 million euros to Armenia for the next 2 years for the implementation of the rebranding process of Armenian cognac(brandy). This was announced in Parliament by Armenian Minister of Economy Gevorg Papoyan. <The process has already been launched>, he emphasized.

ArmInfo.The North-South Road Corridor Investment Program, which was planned to be completed within  4-5 years, spending less than $1 billion, has been implemented by 10% to date, and the amount of loans attracted by the end of May 2024 amounted to $800.7 million. At the same time, after 12 years, those responsible for the project are afraid to talk about either the timing of its completion or its final cost.

ArmInfo. In May of this year, Armenian taxpayers carried out 59.9 million transactions worth AMD  1,086bln. This is stated in the message of the State Revenue Committee of the Republic of Armenia.

ArmInfo.Armenian food and non-alcoholic beverage producers will take part in the international  exhibition Foodex Saudi-2024.

ArmInfo.The World Bank's Board of Executive Directors approved $40 million in support of the Enabling  the Energy Transition project for Armenia, which will assist the implementation of the Energy Sector Development Strategy to 2040 of the Republic of Armenia.  

ArmInfo. The Ministry of Finance of Armenia has opened a special account to provide assistance  to the population affected by floods.

ArmInfo.Armenia intends to join the Asian Infrastructure Investment Bank (AIIB). The Standing Committee on Financial-Credit and Budgetary Affairs of the National Assembly of the Republic of Armenia issued a positive conclusion on the draft agreement with this financial institution at a meeting on June 3.

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