ArmInfo.The following fact sheet was released in partnership with the U.S. Department of State,  the United States Agency for International Development, and the United States International Development Finance Corporation during the Joint EU-US-Armenia High Level Meeting in Support of Armenia.

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ArmInfo.It is too early to talk about the threat of overheating in the consumer lending market.  Chairman of the Central Bank of Armenia Martin Galstyan expressed a similar opinion during a press conference on March 12.

ArmInfo.The baseline scenario projects Armenian GDP growth at 5.7% in 2024 and 5.3% in 2025. Inflation could accelerate to  3.6% in  2024 amid continued elevated domestic demand, a moderate weakening of the national currency, and the ongoing cycle of refinancing rate reductions, according to the Macroerconomic Outlook by the Eurasian Development Bank (EDB). 

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ArmInfo.There are currently no reasons for concern regarding the growth of consumer lending in Armenia. Deputy Governor at Central Bank of Armenia Armen Nurbekyan said, answering questions during a panel session at the economic forum organized by Amundi-ACBA Asset Management, the pension fund  management company.

ArmInfo.In 2023, AMD 51.9bln were returned to 38,911 beneficiaries of the income tax refund  program within the framework of mortgage lending, which exceeds the previous year's figures by 42%, and the number of beneficiaries by 33%.

ArmInfo.In 2023, Armenia's State Revenue Committee ensured tax revenues totaling AMD 2,200bln  (over $ 5.460bln), which was AMD 296bln or 15.4%, Committee Chairman Rustam Badasyan stated as he presented the 2023 report to Armenia's Premier Nikol Pashinyan. 

ArmInfo.Mortgage loan debt per capita in Armenia for 9 months of 2023 amounted to $861 per person. The volume of the mortgage burden in the country is lower only than the indicators of Russia ($1397), ($1397), but significantly exceeds the indicators of Kazakhstan ($597), Belarus ($487), Azerbaijan ($198), Uzbekistan ($132) and Kyrgyzstan ($47).

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ArmInfo.Chaired by Prime Minister Nikol Pashinyan, a regular Cabinet meeting took place today,  the press service of the RA Government reports.

ArmInfo.Deputy Minister of Labor and Social Affairs Davit Khachatryan and Press Secretary of the  Minister of Labor and Social Affairs Zaruhi Manucharyan presented the progress of the support provided by the Government to our compatriots forcibly displaced from Nagorno-Karabakh during the briefing held at  the "Humanitarian Center".

ArmInfo. The Armenian government is withdrawing from the mortgage loan income tax refund  program, but in return, similar tools will be introduced as part of the income declaration mechanism. Armenian Minister of Economy Vahan Kerobyan told reporters during a briefing on November 22.

ArmInfo.Ameriabank has been recognized as the Best Bank for Digital Solutions in Armenia for the year 2023, as announced by Euromoney magazine in its Awards for Excellence. The magazine emphasizes Ameriabank's commitment to digital innovation and transformative technology, which has surpassed that of its peers over the past 12 months.

ArmInfo. The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for its six member states. This regular publication provides a roundup of the macroeconomic situation and projects near-term developments in the member countries. The review also contains detailed statistics on key macroeconomic indicators.

ArmInfo. A delegation of the International Monetary Fund (IMF) led by Mr Jihad Azour, Director of the IMF Middle  East and Central Asia Department, and Ms Iva Petrova, IMF Mission Chief for Armenia, was on a visit to Armenia recently. In an interview with Mr Emmanuil Mkrtchyan, CEO, ArmInfo News Agency, Mr Jihad Azour said that the IMF delegation visited Armenia on the occasion of the 30th anniversary of the Armenian national currency  and foundation of the Central Bank of Armenia, landmarks in Armenia's history.

ArmInfo.For around 6 years, Ameriabank has retained absolute leadership in the Armenian banking  sector by mortgage loan portfolio.  In H1 2023, Ameriabank's mortgage portfolio increased by more than AMD 23B to a total of USD 209.6B, thus becoming the first in the market to go past the mark of AMD 200B, the bank's press  release reads.  

ArmInfo.On Aug. 25, 2023, S&P Global Ratings raised its long-term foreign and local currency  sovereign credit ratings on Armenia to 'BB-' from 'B+' and affirmed its short-term foreign and local currency sovereign credit ratings at 'B'. The outlook is stable.  

ArmInfo.  All sectors positively influence the dynamics of economic growth in Armenia, but the services sector still plays the main role. However, monthly data since the beginning of the year show that services growth is gradually slowing down - this is largely due to last year's strong performance and demand adjustment.  This is stated in the regular Macroeconomic Review published today, prepared by analysts of the Eurasian Development Bank (EDB).

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