ArmInfo.On May 17, the NA Standing Committee on Economic Affairs debated the draft law on  Making Addendum and Amendments to the RA Code on Administrative Offenses in the first reading, which was presented by the Deputy Chairman of the RA State Revenue Committee Artur Manukyan.

ArmInfo.The Armenian government proposes to make changes to the car trade system within the framework  of the "Trade-in" program (exchanging an old car for a new one with an additional payment). At May 17 meeting , the RA NA Standing Committee on Economic Affairs issued a positive conclusion on the amendments to the law "On Trade and Services" submitted by the executive body.

ArmInfo.US$ 10 million EBRD loan package to ArmSwissBank

ArmInfo.Lawyers in Armenia express dissatisfaction with the draft amendments to the Tax Code,  according to which, from January 1, 2025, public defenders will be transferred to the general field of taxation.

ArmInfo.

ArmInfo.  Armenia's suspension of funding to the CSTO is not a tragedy; Yerevan is not leaving the  organization. This was stated by Deputy Foreign Minister of the  Russian Federation Alexander Pankin during a session within the  framework of the international economic forumentiteled "Russia -  Islamic World: KazanForum".

ArmInfo. T Minister of Territorial Administration and Infrastructures of Armenia Gnel Sanosyan refrained   from specifying even the approximate cost of the North-South Road Corridor Investment Program and preferred not to indicate the deadlines of its implementation.

ArmInfo.The European Bank for Reconstruction and Development (EBRD) has improved its GDP growth forecast for Armenia for 2024 from the previous 4.5% to an updated 6.2% (versus actual 8.7% growth in 2023), expecting a slowdown to 4.8% in 2025, according to the Bank's latest Regional Economic Prospects. "Taming inflation"  report, published today.

ArmInfo. Armenia's Prime Minister Nikol Pashinyan received the Deputy CEO of the French Development Agency (Agence Fran‡aise de D‚veloppement - AFD)  Bertrand Walckenaer.

ArmInfo.Well-known entrepreneur, scientist, philanthropist, founder and director of Flagship Pioneering Noubar Afeyan expressed his readiness to use his capabilities and connections to strengthen the Motherland. He stated  this during a meeting with the Minister of High- Technological Industry of Armenia Mkhitar Hayrapetyan.

ArmInfo. The growth potential of Armenia's GDP generation increased to 5.5-6%. Armenian Finance  Minister Vahe Hovhannisyan assured an ArmInfo correspondent of this on May 14 on the sidelines of the Annual Meeting of the European Bank for Reconstruction and Development in Yerevan.

ArmInfo.Yerevan is set to welcome the 33rd annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD), with Ardshinbank taking the lead as flagship sponsor. The event, a significant fixture among financial institutions, will convene high-ranking delegations from 74 countries, prominent financial and banking experts, and thought leaders of the Armenian banking sector. Scheduled for May 14-16, the forum aims to foster positive impacts and enhance financial markets for the public good.

ArmInfo. 75% of Armenia's exports in Q1 of 2024, were precious and semi-precious stones and metals. An  increase in gold re-exports has been observed since November 2023.  This circumstance contains great risks, because economic growth is currently exogenous, and in the event of a change in any of the  external incentives, as well as a significant decrease in gold re-exports, the Armenian economy will become vulnerable. A similar assessment was made by Associate Professor of the Armenian State University of Economics, economist Aghasi Tavadyan.

ArmInfo. Deputy Prime Minister of  Armenia Mher Grigoryan received Mr Thanos Arvanitis, the  International Monetary Fund (IMF) Deputy Director of the Middle East  and Central Asia Department. Mr Umang Rawat, the  IMF Resident  Representative for Armenia was also present at the meeting.

ArmInfo.IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. This time, the program includes about 150 minor children from 42 families forcibly displaced from Artsakh.

ArmInfo.Armenia's gross international reserves (GIR), after reaching a record $4.220 billion in August 2023, then began to decline monthly, amounting to $3.304 billion by April 1, 2024. On an annual basis, this figure decreased by 11.3% (or by $420.4 million), in while in 2023, annual growth of 26.7% (or $784 million) was recorded, according to the data by the Central Bank of the Republic of Armenia.

ArmInfo. Team Telecom Armenia will support  TUMO's mission (TUMO Center for Creative Technologies)  to make modern technology education accessible to all young people in Armenia.

ArmInfo. Market expectations of the CBA policy rate path have not changed materially since the last  decision and continue to reflect expectations of a gradual reduction in the policy rate through the end of the current year.

ArmInfo. During a meeting with the delegation of the Asian Development Bank (ADB), led by Luke Fochtman, Bank's  Deputy Country Director for Armenia, Deputy Minister of Internal Affairs (Ministry of Internal Affairs) of Armenia Arpine Sarkisyan noted the importance of cooperation with ADB in the field of disaster risk management

ArmInfo. The head of the Central Bank of Armenia, Martin Galstyan, pointed out the lending  activity in the banking system of Armenia. He announced this on April 30 during the press conference held in connection with the next reduction of the refinancing rate, this time to 8.25%.