In H1 2020, inflation of 1% was recorded in Armenia`s consumer market  with y-o-y inflation of 0.5%In H1 2020, inflation of 1% was recorded in Armenia`s consumer market  with y-o-y inflation of 0.5%
 Tuesday, July 7 2020

ArmInfo. In the first half of 2020,  inflation in the consumer market of Armenia was recorded at 1%,  against 0.1% inflation in the same period of 2019. This was triggered  by a 2.3% rise in prices for foodstuffs and an increase in tariffs  for services by 0.6%, amid drop in prices of non food products  (including alcohol and cigarettes) by 0.9%. In y-o-y terms (compared  with the first half of 2019), the consumer market recorded inflation  of 0.5% (against inflation of 2% a year ago), which was facilitated  by a rise in price of non-food products by 1% and an increase in  tariffs for services by 1.3%, with no changes in prices of food  prices. According to the data of the Statistical Committee of the  Republic of Armenia, the average monthly growth in consumer prices  amounted to 0.2% in the first half of 2019, against the growth by  0.02% a year earlier.

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In the context of COVID-2019, volume of cargo transportation  continues to grow in Armenia amid the decline in passenger trafficIn the context of COVID-2019, volume of cargo transportation  continues to grow in Armenia amid the decline in passenger traffic
 Tuesday, July 7 2020

ArmInfo.   In the context of  COVID-2019, the volume of cargo transportation continues to grow in  Armenia amid the decline in passenger traffic. Thus, according to the  Statistical Committee of the Republic of Armenia, cargo  transportation in Armenia in January-May 2020 versus the same period  last year increased by 5.3% - up to 5 117.1 thousand tons, of which  2973.7 thousand tons (58.3% of the total) accounted for by road  transport, with a y-o-y miserable increase of 0.3%.

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Metallurgical industry increased production by 24.4%Metallurgical industry increased production by 24.4%
 Tuesday, July 7 2020

ArmInfo. Armenian metallurgical  industry is increasing production volumes. According to the data of  the Statistical Committee of the Republic of Armenia, in January-May  2020 the sector ensured growth of volumes by 24.4%, against the 7.4%  decline a year earlier for the same period.  In particular, the  production of copper concentrate increased by 24.1% to 156.8 thousand  tons, against a decline of 9.2% a year earlier. In monthly terms,  copper concentrate production increased by 10.1% to 35.1 thousand  tons.

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Issue of concentration of two telecommunication companies of Armenia  was discussed at meeting of SCPECIssue of concentration of two telecommunication companies of Armenia  was discussed at meeting of SCPEC
 Tuesday, July 7 2020

ArmInfo. The issue of  concentration of LLC and Veon Armenia CJSC was discussed at a  meeting of the State Commission for the Protection of Economic  Competition(SCPEC) of Armenia on July 7.

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Armenian national debt continued growth in May 2020 amid resumed  growth of external debt Armenian national debt continued growth in May 2020 amid resumed  growth of external debt 
 Tuesday, July 7 2020

ArmInfo. The state debt of Armenia  in January-May 2020 increased by 1.5% (against growth by 0.03% a year  earlier), amounting to $ 7.433 billion (3.597 trillion drams).   According to the RA Statistical Committee, in January-May 2020,  external debt decreased by 1.2% to $ 5.717 billion (2.767 trillion  drams), and domestic debt grew by 11.6% to $ 1.716 billion (830.5  billion drams), repeating last year's multidirectional dynamics (in  January-May 2019, the decline in external debt by 1.3% was  accompanied by an increase in domestic debt by 5.3%).

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The 3rd <Engineering Week> takes place onlineThe 3rd takes place online
 Tuesday, July 7 2020

ArmInfo. On the initiative of the Ministry of  High-Tech Industry of the Republic of Armenia, the Enterprise  Incubator Foundation and the Engineering Association, the 3-rd annual  Armenia-Engineering Week 2020 event is being held online from July 6  to July 10.

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An increase of electricity production registered in Armenia in Jan-May An increase of electricity production registered in Armenia in Jan-May 
 Tuesday, July 7 2020

ArmInfo.  In Armenia in  January-May 2020 electricity generation amounted to 3,246.1 million  kWh, with a y-o-y growth of 8.3% (against a decline of 7.4% a year  earlier). 

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Foil production in Armenia  growingFoil production in Armenia  growing
 Tuesday, July 7 2020

ArmInfo.The y-o-y production of  aluminum foil increased by 10.9% (against the decline by 3.6% a year  earlier) , in Armenia in January-May 2020, amounting to a total of 14  518 tons. This is evidenced by the data of the Statistical Committee  of RA.

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Armenia`s manufacturing industry declined in January-MayArmenia`s manufacturing industry declined in January-May
 Tuesday, July 7 2020

ArmInfo. The volume of  industrial production in Armenia in January-May 2020, against the  same period a year ago, slowed down the y-o-y growth rate - from 5.6%  to 2.4%, which was due to the subsidence of manufacturing production  volumes. So, according to the Statistical Committee of the Republic  of Armenia, during the reporting period, the industrial production  volume of Armenia amounted to 735.6 billion drams ($ 1.5 billion). In  May alone, the Armenian industrial sector grew by 11.9% (after the  April decline of 9.2%) to 150.4 billion drams ($ 310.6 million), with  an y- o-y decline of 3.9%.

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Hovhannes Khachatryan nominated to the Council of the Central Bank of  ArmeniaHovhannes Khachatryan nominated to the Council of the Central Bank of  Armenia
 Tuesday, July 7 2020

ArmInfo. The ruling "My Step"  faction in Armenia nominated Hovhannes Khachatryan to the vacant post  of member of the Council of the Central Bank of Armenia.  As the  press service of the National Assembly of the Republic of Armenia  reports, the candidacy of Hovhannes Khachatryan will be considered at  a meeting of the NA Standing Committee on Financial- Credit and  Budgetary Affairs on July 8. The keynote speaker will be Artak  Manukyan, Deputy Chairman of the Commission.

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In May, economic activity in Armenia grew in May with a fixed annual  declineIn May, economic activity in Armenia grew in May with a fixed annual  decline
 Tuesday, July 7 2020

ArmInfo. In Armenia, economic  activity in January-May 2020 decreased by 3.9% per annum amid a  deepening decline in exports and imports. In May this year by May  2019, economic activity decreased by 12.8%, while only in May 2020 it  showed an increase of 13.3% (after the April decline of 13.5%). A  year earlier, during the same periods, economic activity showed  growth: in January-May 2019, by the same period of 2018, by 7.3%, the  same in May 2019 compared to May 2018, and only in May - by 8.4%.

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From Ancient Armenia to South African Republic: Mastering the Secrets of Dried Fruit ProductionFrom Ancient Armenia to South African Republic: Mastering the Secrets of Dried Fruit Production
 Monday, July 6 2020

ArmInfo.The practice of drying fruit in Armenia originated centuries ago. Back in the 5th century BC Greek historian Herodotus mentioned the sun-kissed dried fruit that was transported by Armenian merchants along with wine and other products.

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Fast Credit Capital UCO will start placement of its dram and dollar  bonds on July 9Fast Credit Capital UCO will start placement of its dram and dollar  bonds on July 9
 Monday, July 6 2020

ArmInfo.  On July 9, "Fast Credit  Capital" Universal Credit Organization (UCO) will start issue and  placement of its dram and dollar bonds with issue volumes of 400  million drams and $ 4 million, respectively. This is evidenced by the  July 3 decision on registration of the issue prospectus of these  tranches, posted on July 6 on the CBA website.

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Government will pay lump sum benefits to citizens who have lost their  jobs for the period from March 1 to June 30Government will pay lump sum benefits to citizens who have lost their  jobs for the period from March 1 to June 30
 Monday, July 6 2020

ArmInfo.  As part of the 22nd  package of anti-crisis measures developed by the Armenian government  to mitigate the socio-economic consequences of the coronavirus  pandemic, citizens who lost their jobs for the period from March 1 to  June 30 this year will receive lump sum benefits. According to the  press service of the government, the amount of the benefit is 68  thousand drams.

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 "Luding" created a joint "Aivazovsky" brand with the Armenian MAP  plant and will promote it in Russia
 Monday, July 6 2020

ArmInfo. The Armenian brandy  segment remains attractive to large alcohol distributors. Thus,  Luding Group of Companies has created an Aivazovsky brand jointly  with the Armenian plant MAP CJSC for its promotion in Russia. In two  years, the partners intend to invest $ 10 million and bring the  product to the top three in the segment. Experts doubt success: many  consumers of such drinks switch to whiskey, and it will be difficult  to promote a new brand in conditions of advertising restrictions.

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IDBank’s new offer to the BusinessIDBank’s new offer to the Business
 Friday, July 3 2020

ArmInfo.IDBank offers to move your business to online platform to use the new privileges of Internet-acquiring with profitable conditions and give an opportunity to your customers to avoid contact with cash and use your services remotely.

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Under pandemic conditions, EU supports the Syrian Armenians in  developing their businessUnder pandemic conditions, EU supports the Syrian Armenians in  developing their business
 Friday, July 3 2020

ArmInfo. From June 30 to July 2 an online pitching of business projects of self-employed Syrian Armenians, repatriates - residents of the SPARK program of the IRIS Business Incubator Fund was held.

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EFSD Assessed Accessibility of Macroeconomic Stabilization Financing  in ArmeniaEFSD Assessed Accessibility of Macroeconomic Stabilization Financing  in Armenia
 Friday, July 3 2020

ArmInfo. The Eurasian Fund for  Stabilization and Development (EFSD, Fund), has published a working  paper "Global Financial Safety Net in Eurasia: Accessibility of  Macroeconomic Stabilization Financing in Armenia, Belarus,  Kyrgyzstan, and Tajikistan". The analysis is of particular importance  in the context of the current crisis associated with the COVID-19  pandemic, the Official Website of Organization reports.

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EAEU lifts ban on export of cereals, flour and garlicEAEU lifts ban on export of cereals, flour and garlic
 Friday, July 3 2020

ArmInfo. A temporary ban on the  export from the countries of the Eurasian Economic Union (EAEU) of certain types of food products has been canceled, TASS reports.

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Armenia and Iran discuss  possibility of implementing joint projects  in  field of transport and energy infrastructuresArmenia and Iran discuss  possibility of implementing joint projects  in  field of transport and energy infrastructures
 Friday, July 3 2020

ArmInfo.   Minister of  Territorial Administration and Infrastructures of Armenia Suren  Papikyan during the meeting with   newly appointed Ambassador of the  Islamic Republic of Iran to the Republic of Armenia Abbas Badakhshan  Zohouri  expressed his conviction that the diplomat will contribute  to the expansion and deepening of the Armenian-Iranian long-term  relations. ArmInfo was informed about this in the press service of  the RA Ministry of Territorial Development.

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Armenia was selected as Action Coalition leader for technology and  innovations under the UN-led Armenia was selected as Action Coalition leader for technology and  innovations under the UN-led "Generation Equality" Forum on women`s  rights
 Thursday, July 2 2020

ArmInfo. On 1 July, Armenia  became global leader for "Technology and Innovation for Gender  Equality" action coalition of the UN-led Generation Equality Forum,  the press service of the Armenian Foreign Ministry informs. 

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UNDP ImpactAim Climate Change Technology Accelerator is looking for  ventures, targeting Energy Efficiency and Renewables challenges UNDP ImpactAim Climate Change Technology Accelerator is looking for  ventures, targeting Energy Efficiency and Renewables challenges 
 Thursday, July 2 2020

ArmInfo. UNDP in Armenia's  ImpactAim Venture Accelerator, in cooperation with Enterprise  Incubator Foundation (EIF) and ISTC - Innovative Solutions and  Technologies Center Foundation, is calling Armenian and international  tech ventures to apply for Climate Change Technology Accelerator  (CCTA) 2020 focused on "Energy Efficiency and Renewables".  The  program targets the current challenges of energy efficiency and  renewables sectors, such as:  Artificial Intelligence (AI) for Energy  Demand Management: AI for data analyzing and decision making;   Passive and Smart living environments; Efficient Heating and/or  Cooling Solutions: Heating and/or cooling technologies that are  energy efficient and supplied from renewable sources; Hydrogen  Energy; Microgrids Based on Renewable Energy; Reduction of losses in  transmission and transformation systems.

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Natural gas supplies to Armenia from Russia temporarily suspendedNatural gas supplies to Armenia from Russia temporarily suspended
 Thursday, July 2 2020

ArmInfo.Natural gas supplies to Armenia from Russia have been temporarily suspended. This was reported by Gazprom Armenia CJSC.

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Armenian government will direct AMD 1.9 billion on capital  expenditures of the Ministry of EducationArmenian government will direct AMD 1.9 billion on capital  expenditures of the Ministry of Education
 Thursday, July 2 2020

ArmInfo. 1.9 billion AMD will be  allocated from the state budget of Armenia for capital expenditures  of the RA Ministry of Education, Science, Culture and Sports. This  decision was made on July 2 at the next government meeting.

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A new sales control system at gas stations will be introduced in  ArmeniaA new sales control system at gas stations will be introduced in  Armenia
 Thursday, July 2 2020

ArmInfo. A new sales control  system at gas stations will be introduced in Armenia. This was  announced on July 2 during a government meeting by the head of the  bureau for coordinating the activities of inspection bodies Arthur  Asoyan.

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Armswissbank successfully placed tranche of Eurobonds in the amount  of 5 mln Armswissbank successfully placed tranche of Eurobonds in the amount  of 5 mln 
 Thursday, July 2 2020

ArmInfo. Armswissbank has  successfully placed a tranche of Eurobonds in the amount of 5 million  euros. According to the press service of the bank, this tranche was  issued on June 1 and, as envisaged, the initial offering ended on  July 1.

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SRC: The situation with the collection of taxes to the state budget  of Armenia causes some concernSRC: The situation with the collection of taxes to the state budget  of Armenia causes some concern
 Thursday, July 2 2020

ArmInfo.The situation with the  collection of taxes to the state budget of Armenia causes some  concern. On July 2, after a government meeting, Chairman of the State  Revenue Committee of the Republic of Armenia, Eduard Hovhannisyan,  told reporters.

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Armenia within the EAEU received privileges on customs duties on  imports of 600 items of goodsArmenia within the EAEU received privileges on customs duties on  imports of 600 items of goods
 Thursday, July 2 2020

ArmInfo. Armenia, within the  framework of the EAEU, received privileges on customs duties on  imports of about 600 items of goods presented at the following link:   https://docs.eaeunion.org/docs/ru-ru/01425463 / err_30042020_62

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Patrick Frey will become an independent engineer in the construction  of a new thermal power unit in YerevanPatrick Frey will become an independent engineer in the construction  of a new thermal power unit in Yerevan
 Thursday, July 2 2020

ArmInfo.  ArmPower Company Constructing a Heat Block in Yerevan combined cycle power of 250 MW, presented to the government the candidacy of Patrick Frey as  independent engineer, which was approved at a meeting of the RA  government on July 2.  As noted in the certificate - the rationale  for the draft decision, a framework agreement on the design,  development, financing.

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The UN estimated the loss of the global tourism sector against the  backdrop of a pandemicThe UN estimated the loss of the global tourism sector against the  backdrop of a pandemic
 Thursday, July 2 2020

ArmInfo. The global tourism  industry could lose up to $ 3.3 trillion due to the coronavirus  pandemic according to the most pessimistic scenario, which is 4.2  percent of total global gross domestic product (GDP). This is stated  in the report "COVID-19 and tourism", released on Wednesday by the  United Nations Conference on Trade and Development (UNCTAD).  At the  same time, the experts calculated three scenarios depending on the  duration of the restrictive measures - 4, 8 and 12 months. In these  scenarios, according to experts, tourism industry revenues would fall  by 1.17, 2.22 and 3.3 trillion dollars, respectively.

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Armenian nuclear power plant stopped for preventive maintenanceArmenian nuclear power plant stopped for preventive maintenance
 Thursday, July 2 2020

ArmInfo. On July 1, the  Armenian nuclear power plant stopped for another scheduled preventive  repair. This was reported by the press service of the station.

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Armenian President met with Chairman of Central BankArmenian President met with Chairman of Central Bank
 Wednesday, July 1 2020

ArmInfo.Armenian President  Armen Sargsyan met with the Chairman of the Central Bank of Armenia  Martyn Galstyan.

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Haypost launches electronic pension system in pilot modeHaypost launches electronic pension system in pilot mode
 Wednesday, July 1 2020

ArmInfo. Haypost, the national  postal operator of Armenia, with the support of the Ministry of Labor  and Social Affairs of the Republic of Armenia, is launching a pilot  program to pay pensions through an electronic system.

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MP: Redistribution of taxes aims to increase the financial  independence of communitiesMP: Redistribution of taxes aims to increase the financial  independence of communities
 Wednesday, July 1 2020

ArmInfo.The planned increase in  property tax is a logical continuation of the lowering of the tax  burden regarding income tax that has occurred since last year. A  similar opinion was expressed by ArmInfo Chairman of the Standing  Commission on Economic Affairs of the "My Step" faction Babken  Tunyan.

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 IDeA announces an open international competition for the development  of architectural solutions of the Gyumri Friendship Park IDeA announces an open international competition for the development  of architectural solutions of the Gyumri Friendship Park
 Wednesday, July 1 2020

ArmInfo. Armenian Development  Initiative Fund (IDeA) announced an open international competition  for the development of architectural solutions for recreational  infrastructure elements of the Gyumri Friendship Park. As noted in  the message of the Fund, the acceptance of applications began on July  1 and will end on July 29.

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Leasing provides the opportunity to purchase Nissan Leaf  electric vehicles Leasing provides the opportunity to purchase Nissan Leaf  electric vehicles 
 Wednesday, July 1 2020

ArmInfo. ACBA Leasing, in  cooperation with Muran, within the framework of the Green Leasing  sub-brand, continues to expand the possibility of acquiring electric  vehicles in Armenia. According to the press service of ACBA-Credit  Agricole Bank, within the framework of cooperation, it will be  possible to lease Nissan Leaf electric vehicles with a maturity of 5  years.

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Armenian Central Bank forecasts decline in private transfers by  22-25% for 2020Armenian Central Bank forecasts decline in private transfers by  22-25% for 2020
 Wednesday, July 1 2020

ArmInfo. The Central Bank of  Armenia predicts for 2020 a significant decrease in the inflow of  private transfers by 22-25%, which, compared with the March forecast  of a decline of 16-19%, indicates a significant deterioration in  expectations. This is stated in the Central Bank's monetary policy  program for the Q2 of 2020, published on June 30, where the forecast  for Armenia's GDP for 2020 is revised downward by 4%, against a  previously projected slowdown to stagnant 0.7%. The Central Bank  causes the deterioration of the forecast for money transfers of  individuals by a significant recession in the Russian economy in the  conditions of a sharp decline in oil prices. In parallel, a temporary  ban on entry into the country, introduced by Russia as part of  measures to prevent the spread of the coronavirus pandemic, will have  a significant impact on the decline in remittances. But the CBA notes  that in contrast to previous years in 2020, the impact of the decline  in remittances on GDP decreased incomparably.

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Repair work on city streets starts in GyumriRepair work on city streets starts in Gyumri
 Wednesday, July 1 2020

ArmInfo. Repair work on  citystreets starts in Gyumri. Minister of Territorial Administration  and Infrastructures of Armenia Suren Papikyan stated this on his  Facebook page.  Repair work will start as part of the second tranche  of the Gyumri City Streets program, which is being implemented with  financial assistance from the European Bank for Reconstruction and  Development (EBRD). It is reported that within the second tranche 15  streets of the city will be repaired, including Ozanyan, Tumanyan,  Sundukyan, Pushkin, Mayakovsky, Myasnikyan, Atabekyan, etc.  Earlier,  ArmInfo reported that the European Bank for Reconstruction and  Development (EBRD) will provide Armenia with a grant of 4.6 million  euros to continue the program for the restoration of roads and urban  lighting in the second city of Armenia Gyumri.

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Unemployment rate will be 20.4% in 2020 according to updated forecast  of the Central Bank of ArmeniaUnemployment rate will be 20.4% in 2020 according to updated forecast  of the Central Bank of Armenia
 Wednesday, July 1 2020

ArmInfo. According to the updated  forecast of the Central Bank of Armenia, the unemployment rate in  2020 will be 20.4%, after which, with a slow economic recovery, this  indicator will annually decrease by 0.3-0.5 percentage points in the  medium term to 19.6% (against the previously expected 17.3% after a  y-o-y decline of 0.8-1.2 percentage points). This forecast is given  in the Central Bank's Monetary Policy Program for the Q2, 2020, which  noted a deterioration in the forecast for GDP for 2020 expecting a 4%  decline (against the previously expected stagnation growth of 0, 7%).

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Japan to provide $ 3.7 million grant aid to Armenia for purchase of  medical equipment Japan to provide $ 3.7 million grant aid to Armenia for purchase of  medical equipment 
 Wednesday, July 1 2020

ArmInfo. On June 30, 2020, H.E.  Mr. Jun Yamada, Ambassador of Japan to Armenia and H.E. Mr. Atom  Janjughazyan, Minister of Finance of the Republic of Armenia signed  the exchange of notes (E/N) for the Japan's Grant Aid, "The Economic  and Social Development Program".

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