ArmInfo NewsFeed
Bolat Imanbayev: Armenia-Kazakhstan trade and economic relations are  developing dynamically; nevertheless, they do not reflect  countries`  full economic potentialBolat Imanbayev: Armenia-Kazakhstan trade and economic relations are  developing dynamically; nevertheless, they do not reflect  countries`  full economic potential
Kazakhstan offers Armenia to consider new alternative logistics routeKazakhstan offers Armenia to consider new alternative logistics route
Dependence of Armenia`s economic activity on jewelry industry could  cause problems - Luys FoundationDependence of Armenia`s economic activity on jewelry industry could  cause problems - Luys Foundation
AraratBank places its 27th issue of dollar bondsAraratBank places its 27th issue of dollar bonds
Viva-MTS changes its company name to Viva ArmeniaViva-MTS changes its company name to Viva Armenia
Deputy Minister of Economy: Armenia-Russia cooperation potential may  be realized through cooperation projects in production sectorDeputy Minister of Economy: Armenia-Russia cooperation potential may  be realized through cooperation projects in production sector
Team Systems contributes to smart technology development Team Systems contributes to smart technology development 
Who will be beneficiaries of tax amnesty in ArmeniaWho will be beneficiaries of tax amnesty in Armenia
Belarus bans import of Ararat Brandy Company products Belarus bans import of Ararat Brandy Company products 
5 000 dram Bonus from IDBank for Pension Card Holders5 000 dram Bonus from IDBank for Pension Card Holders
Armenia`s public debt reaches $12 billionArmenia`s public debt reaches $12 billion
Price index of industrial products is decreasing in ArmeniaPrice index of industrial products is decreasing in Armenia
Industrial sector driver of economic activity in Armenia Industrial sector driver of economic activity in Armenia 
Armenian CB issue s new collector coins Armenian CB issue s new collector coins 
99.8% defense budget performance in 202399.8% defense budget performance in 2023
IDBank issues the 1st tranche of dollar bonds of 2024IDBank issues the 1st tranche of dollar bonds of 2024
AFD delegation presented with details of Vedi reservoir construction  and irrigation network modernization projectAFD delegation presented with details of Vedi reservoir construction  and irrigation network modernization project
Parliamentarian: Armenia attaches great importance to using  opportunities of digital transformationParliamentarian: Armenia attaches great importance to using  opportunities of digital transformation
DPM: we need not only quantitative increase, but also qualitative  changes in urban development field DPM: we need not only quantitative increase, but also qualitative  changes in urban development field 
​​​​​​​IDBank as a Participant in the Conference of My Forest Armenia NGO​​​​​​​IDBank as a Participant in the Conference of My Forest Armenia NGO
ENA bonds quotation in volume of AMD 32 billion to start on AMX from  March 27ENA bonds quotation in volume of AMD 32 billion to start on AMX from  March 27
Switzerland launches SIGMA program with total budget of CHF 12  million Switzerland launches SIGMA program with total budget of CHF 12  million 
Armenia`s State Revenue Committee launches e-system of income  statement presentation  Armenia`s State Revenue Committee launches e-system of income  statement presentation  
Armenia`s ranking in Index of Economic Freedom decreased by 0.2 pp  over yearArmenia`s ranking in Index of Economic Freedom decreased by 0.2 pp  over year
France to sponsor establishment of cheese-making school in Armenia`s  Tavush France to sponsor establishment of cheese-making school in Armenia`s  Tavush 
The South Caucasus Railway will suspend the sale of tickets using MIR cards The South Caucasus Railway will suspend the sale of tickets using MIR cards
Azerbaijan continues attempts to Azerbaijan continues attempts to "hit" Armenian nuclear power plant
Armswissbank participates in gcf regional dialogue in skopjeArmswissbank participates in gcf regional dialogue in skopje
IDBank issues the 1st tranche of dollar bonds of 2024IDBank issues the 1st tranche of dollar bonds of 2024
Extending ANPP`s lifetime until 2036 will lay solid foundation for  smooth transition to new power unit - Pashinyan at Nuclear Energy  SummitExtending ANPP`s lifetime until 2036 will lay solid foundation for  smooth transition to new power unit - Pashinyan at Nuclear Energy  Summit
Armenia`s government approves order of quality prize awards Armenia`s government approves order of quality prize awards 
International Client’s Day at IDBankInternational Client’s Day at IDBank
Germany to provide loan for Armenia`s renewable energy sector Germany to provide loan for Armenia`s renewable energy sector 
2023 lending growth insufficient to prevent decline in profits -  Financial Rating of Banks of Armenia2023 lending growth insufficient to prevent decline in profits -  Financial Rating of Banks of Armenia
Iran interested in cooperating with Armenia in mining industry Iran interested in cooperating with Armenia in mining industry 
Armenian government plans to introduce SAFE format Armenian government plans to introduce SAFE format 
Service of Armenian ArCa cards in Russia and of Russian MIR cards in  Armenia to be suspended Service of Armenian ArCa cards in Russia and of Russian MIR cards in  Armenia to be suspended 
Termination of service of MIR cards. IDBankTermination of service of MIR cards. IDBank
Economic modernization programme portfolio AMD 228bln as of March 1,  2024Economic modernization programme portfolio AMD 228bln as of March 1,  2024
Mobile trade regulations to be in effect throughout Armenia Mobile trade regulations to be in effect throughout Armenia 
Official cites financial reasons for suspension of Fly Arna airline  operation Official cites financial reasons for suspension of Fly Arna airline  operation 
Subsidiary of Public TV of Armenia to have right to nationwide  broadcasting  Subsidiary of Public TV of Armenia to have right to nationwide  broadcasting  
About 700 Armenian heavy cargo trucks waiting to pass through Upper  LarsAbout 700 Armenian heavy cargo trucks waiting to pass through Upper  Lars
Armenian Economy Ministry, several U.S. government departments form  specific action program Armenian Economy Ministry, several U.S. government departments form  specific action program 
Public TV`s First News Channel to be broadcasted not only in Yerevan,  but also throughout countryPublic TV`s First News Channel to be broadcasted not only in Yerevan,  but also throughout country
Ardshinbank cardholders can now enjoy a 10% cashback!Ardshinbank cardholders can now enjoy a 10% cashback!
“G20/OECD Principles of Corporate Governance” workshop“G20/OECD Principles of Corporate Governance” workshop
ECC, EDB to coordinate funding of joint projects ECC, EDB to coordinate funding of joint projects 
Broadcasting of Russian TV channels to be discussed in Moscow soon Broadcasting of Russian TV channels to be discussed in Moscow soon 
Armenia to host World Wine Tourism Conference,Armenia to host World Wine Tourism Conference,
CBA forecasts 5.5% or 6.4% GDP growth for 2024 depending on inflation  rate  CBA forecasts 5.5% or 6.4% GDP growth for 2024 depending on inflation  rate  
Three Sad Stories about FraudstersThree Sad Stories about Fraudsters
Rafayel Gevorgyan: Armenia`s economic growth potential is 6%Rafayel Gevorgyan: Armenia`s economic growth potential is 6%
TEAM already has over 1 million mobile subscribersTEAM already has over 1 million mobile subscribers
Armenia`s ministry of economy proposes new SAFE format Armenia`s ministry of economy proposes new SAFE format 
CBA Governor: Over 11 thousand Artsakh refugees employed in ArmeniaCBA Governor: Over 11 thousand Artsakh refugees employed in Armenia
Armenian economy is approaching neutral interest rate level- Martin  GalstyanArmenian economy is approaching neutral interest rate level- Martin  Galstyan
CBA: external inflationary impact on Armenian economy continues to  weaken significantlyCBA: external inflationary impact on Armenian economy continues to  weaken significantly
Martin Galstyan: It`s too early to talk about threat of overheating  in consumer lending marketMartin Galstyan: It`s too early to talk about threat of overheating  in consumer lending market
Non-cash transactions surpass cash ones in Armenian plastic card  marketNon-cash transactions surpass cash ones in Armenian plastic card  market
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Talk of the day

Kazakhstan offers Armenia to consider new alternative logistics route

 Wednesday, March 27 2024
Kazakhstan offers Armenia to consider new alternative logistics route

ArmInfo. We want to offer Armenia an alternative logistics route that will significantly reduce  time costs for cargo carriers and which has a competitive price.  President of the "Astana" Diplomatic Club Kaiyrbolat Sakhmetov said in a conversation with an ArmInfo correspondent Within the framework  of the meeting of the business delegation of Kazakhstan with the members of the  Union of Manufacturers and Businessmen of Armenia (UMBA).

Economy

Bolat Imanbayev: Armenia-Kazakhstan trade and economic relations are  developing dynamically; nevertheless, they do not reflect  countries`  full economic potential

ArmInfo.Trade and economic relations are developing dynamically in both bilateral and  multilateral formats, which is significantly facilitated by contacts at the highest level. Ambassador of Kazakhstan to Armenia Bolat Imanbayev stated during the Armenia- Kazakhstan Business Forum.

Dependence of Armenia`s economic activity on jewelry industry could  cause problems - Luys Foundation

ArmInfo.The sharp acceleration in the growth of economic activity in February of this year in Armenia is due to a short-term factor, reads a report by the Luys Foundation, whose experts analyzed the data of the RA Statistical Committee for January-February 2024.

Deputy Minister of Economy: Armenia-Russia cooperation potential may  be realized through cooperation projects in production sector
Who will be beneficiaries of tax amnesty in Armenia

Finance and banks

AraratBank places its 27th issue of dollar bonds

ArmInfo.From March 26 to June 26 of this year, AraratBank starts placement of bonds subject to the conditions described below:

5 000 dram Bonus from IDBank for Pension Card Holders

ArmInfo.IDBank joins the pension cashback program, within the framework of which 10% is returned as cashback for non-cash payments made by the pensioners.

Armenia`s public debt reaches $12 billion
Armenian CB issue s new collector coins 

Insurance

Motor Insurers` Bureau informs about need to indicate bank account  number in CMTPL agreements from April 1, 2024; what foreigners should  do not yet reported

ArmInfo. From April 2024, the policyholders will be required to indicate the number of their bank  account (card or current), or the account of their authorized representative in the CMTPL (Compulsory Motor Third Party Liability) agreement. This is noted in the message of the Motor Insurers' Bureau of Armenia received by ArmInfo.

Armenian insurance sector profit decreased by 33% in 2023

ArmInfo. The net profit of the insurance sector of Armenia dropped by 33% in 2023, after a 4.5-fold  increase in 2022. "This resulted from higher reimbursement growth of 30% with a modest 17% increase in premiums.

Ministry of Health of Armenia no longer deals with the return of  accumulated pensions
Fines for absence of CMTPL agreement to be reduced 4-fold in Armenia
Energy

Extending ANPP`s lifetime until 2036 will lay solid foundation for  smooth transition to new power unit - Pashinyan at Nuclear Energy  Summit

ArmInfo. Prime Minister  of Armenia Nikol Pashinyan participated in the inaugural Nuclear Energy  Summit in Brussels. French President Emmanuel Macron, Belgian Prime Minister Alexandre de Croux, European Commission President Ursula van der Leyen, European Council President Charles Michel, presidents,  prime ministers and representatives of a number of countries also took part in the event, the office of the Armenia's Prime Minister reports.

Germany to provide loan for Armenia`s renewable energy sector 

ArmInfo.Preferential loan worth of 12 million Euros will be allocated to Armenia by the  Agreement. The money will be allocated to the private sector for making investments in some spheres of renewable energy.

Connection with Europe via Georgia Armenia`s energy priority -  official
2-3 nuclear power units with capacity of 200 MW each would make it  possible to more effectively manage country`s energy system - PSRC  Chair

Technology

Viva-MTS changes its company name to Viva Armenia

ArmInfo. Viva-MTS Telecommunications operator has changed its company name to Viva Armenia.

Team Systems contributes to smart technology development 

ArmInfo.In order to strengthen the connection, Team Systems business university together  with the National Polytechnic University of Armenia (NPUA) held a two-day conference and hackathon on the topic "Green energy and smart technologies".

Parliamentarian: Armenia attaches great importance to using  opportunities of digital transformation
Subsidiary of Public TV of Armenia to have right to nationwide  broadcasting  

Real estate

60% of land purchase and sale transactions in regions of Armenia in  2023 were land ones

ArmInfo. The average market price of apartments in the regions of Armenia in 2023 increased by  13.4%, amounting to 130.8 thousand AMD/1 sq.m.

Apartments in Yerevan have risen in price by 10.3% over year

ArmInfo. At the end of 2023, the average market value of real estate in apartment buildings in  Yerevan increased by 10.3% year-on-year, amounting to 425.3thousand AMD/1 sq.m.  According to data from the State Committee of the Real Estate Cadastre of the Republic of Armenia, the highest prices for  apartments in Yerevan are traditionally held by the Kentron (Center) community - on average 837.7 thousand AMD/1 sq.m. (y-o-y growth of 13.5%).

State Revenue Committee of Armenia clarifies issues related to real  estate rental
Unified real estate register to be established in Armenia

Statistics

Price index of industrial products is decreasing in Armenia

ArmInfo. In Armenia, the price index of industrial products decreased in Jan-Feb 2024 compared to the same period in 2023 to 99.6% from 100.8% a year earlier. Such a trend is observed against the backdrop of a sharp acceleration in the y-o-y growth of the industrial sector from 1% to 28.9%, providing volumes of 461.6 billion drams ($1.1 billion), by preliminary data from the RA Statistical Committee.

Industrial sector driver of economic activity in Armenia 

ArmInfo. In Armenia, the growth of economic activity in January- February 2024 accelerated to 13.6%  per annum (from 10.9% in the same period in 2023). The growth driver was the industrial sector. As preliminary data from the RA Statistical Committee indicate, this was accompanied by a noticeable acceleration in the upward dynamics of exports and imports.

Decline in Armenia`s consumer prices was caused by food products;  while prices for services and gasoline were on rise

ArmInfo. In Armenia, consumer prices are falling due to cheaper food products, such as cereals,  flour, meat, butter, fish, bread, cheeses, vegetables and fruits. In parallel, an increase in prices for gasoline, alcohol and cigarettes is recorded. In addition, the prices of services continue to increase, especially the tariffs for personal transport services have risen sharply, by the data of the RA Statistical Committee.

Armenia`s resident population 2,932,731 as of Oct 2023 

ArmInfo.Prime Minister Nikol Pashinyan visited the Statistical Committee to participate in the  discussion of the activity report 2023 of the Committee.

Slower economic activity growth in Armenia in Jan-Nov, 2023
Armenia`s public debt exceeded USD 11.1 billion in Nov 2023, with  y-o-y increase of 10%
UAE is in TOP-3 of Armenia`s trade partners in terms of export, and  USA in terms of import 
Industrial products price index in Armenia in Jan-Oct 2023 decreased to 101.6% from 103.4%  


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