ArmInfo NewsFeed
A Success Story - Green EnergyA Success Story - Green Energy
Ministry of Finance of Armenia: Average salary increased by 5.4%,  unemployment by 1.6%Ministry of Finance of Armenia: Average salary increased by 5.4%,  unemployment by 1.6%
Central Bank of Armenia expects inflation to return to target  thresholdCentral Bank of Armenia expects inflation to return to target  threshold
In Armenia, economic activity increased by 4.9% in 8 months of 2021In Armenia, economic activity increased by 4.9% in 8 months of 2021
Fitch affirms Armenia at `B+`; upgrading forecast for GDP growth to  5.5% in 2021Fitch affirms Armenia at `B+`; upgrading forecast for GDP growth to  5.5% in 2021
IRNA: Volume of exports from Iran to Armenia increased significantlyIRNA: Volume of exports from Iran to Armenia increased significantly
Growth of vehicles with CMTPL insurance resumes in Armenia and an  upward trend in fees has been outlinedGrowth of vehicles with CMTPL insurance resumes in Armenia and an  upward trend in fees has been outlined
State Treasury of Armenia will put up for auction diamonds, emeralds,  gold and jewelry worth 1.5 billion dramsState Treasury of Armenia will put up for auction diamonds, emeralds,  gold and jewelry worth 1.5 billion drams
In H1 2021, Armenia reduced imports of natural gas by 0.2%, while  liquefied gas increased by 60.6%In H1 2021, Armenia reduced imports of natural gas by 0.2%, while  liquefied gas increased by 60.6%
Head of  CBA  took part in 22nd meeting of Advisory Board on Monetary  Policy of Central (National) Banks of EEU Member StatesHead of  CBA  took part in 22nd meeting of Advisory Board on Monetary  Policy of Central (National) Banks of EEU Member States
Construction of section of Sisian-Kajaran road in Syunik region of  Armenia will cost more than $ 1 billionConstruction of section of Sisian-Kajaran road in Syunik region of  Armenia will cost more than $ 1 billion
Mher Grigoryan to discuss agreement on common gas market in EAEU in  MoscowMher Grigoryan to discuss agreement on common gas market in EAEU in  Moscow
Rosatom Corporation and Armenian government are preparing memorandum  on construction of new medium-capacity nuclear power plantRosatom Corporation and Armenian government are preparing memorandum  on construction of new medium-capacity nuclear power plant
Affordable mortgage and more. Converse Bank is the partner of Build ArmeniaAffordable mortgage and more. Converse Bank is the partner of Build Armenia
EDB: Expanding abroad and domestic demand continues to support  Armenia`s industrial productionEDB: Expanding abroad and domestic demand continues to support  Armenia`s industrial production
Investment program for launch of Yerevan-Tbilisi high-speed train is  estimated at $ 400 millionInvestment program for launch of Yerevan-Tbilisi high-speed train is  estimated at $ 400 million
Armenia is exploring in detail the possibilities of launching a  regular ferry serviceArmenia is exploring in detail the possibilities of launching a  regular ferry service
Armenian government to allocate $ 50 million to transform Areni  community as a cradle of winemakingArmenian government to allocate $ 50 million to transform Areni  community as a cradle of winemaking
Papikyan and Kopyrkin discussed prospects for construction ofnew  nuclear power plant in ArmeniaPapikyan and Kopyrkin discussed prospects for construction ofnew  nuclear power plant in Armenia
In 2025, Armenia will allocate almost $ 1.4 billion for government debt repayment and servicesIn 2025, Armenia will allocate almost $ 1.4 billion for government debt repayment and services
AEON Corporation interested in construction of a copper smelter in ArmeniaAEON Corporation interested in construction of a copper smelter in Armenia
Iya Malkina: In Q1, the net inflow of mutual direct investments in  the EAEU amounted to $ 663.2 millionIya Malkina: In Q1, the net inflow of mutual direct investments in  the EAEU amounted to $ 663.2 million
EEC Forecast: Economic recovery in Armenia will be completed during  2022EEC Forecast: Economic recovery in Armenia will be completed during  2022
The best vacation destinations in the autumn of 2021The best vacation destinations in the autumn of 2021
Head of Central Bank of Armenia and member of EEC Board discussed  issues of Eurasian integrationHead of Central Bank of Armenia and member of EEC Board discussed  issues of Eurasian integration
"Electric Networks of Armenia" Company starts implementation of  second stage of modernization of electric grid facilities
Armenia to start developing innovative activities in cooperation with  Skolkovo FoundationArmenia to start developing innovative activities in cooperation with  Skolkovo Foundation
Tigran Khachatryan appointed Governor from Armenia in Boards of  Governors of World Bank and Asian Development BankTigran Khachatryan appointed Governor from Armenia in Boards of  Governors of World Bank and Asian Development Bank
FinRating ArmInfo: Profits of Armenian banks stagnate under the  burden of growing NPLsFinRating ArmInfo: Profits of Armenian banks stagnate under the  burden of growing NPLs
Overchuk: The unblocking all economic and transport links in the  region will increase the trade turnover between Armenia and RussiaOverchuk: The unblocking all economic and transport links in the  region will increase the trade turnover between Armenia and Russia
On October 20, REC organizes a business mission for Russian  manufacturers to ArmeniaOn October 20, REC organizes a business mission for Russian  manufacturers to Armenia
Andrey Sinyakov: We consider the completion of the second stage of the modernization project of the Agarak Copper-Molybdenum Combine as a serious anti-crisis measureAndrey Sinyakov: We consider the completion of the second stage of the modernization project of the Agarak Copper-Molybdenum Combine as a serious anti-crisis measure
Iranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areasIranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areas
Major Armenian-Russian business forum to be held in YerevanMajor Armenian-Russian business forum to be held in Yerevan
Gyumri Shirak Airport is ready to serve European budget flightsGyumri Shirak Airport is ready to serve European budget flights
Mher Grigoryan reports on certain difficulties in negotiations with  GazpromMher Grigoryan reports on certain difficulties in negotiations with  Gazprom
Standing Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank CouncilStanding Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank Council
Mher Grigoryan: In terms of the opening of railways, solutions began  to be consideredMher Grigoryan: In terms of the opening of railways, solutions began  to be considered
GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project 
IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: "Downside risks remain elevated" 
Economy Minister considers Central Bank`s updated economic forecasts  as pessimisticEconomy Minister considers Central Bank`s updated economic forecasts  as pessimistic
Armenian government to allocate about 357.5 million drams to complete  15 subvention programsArmenian government to allocate about 357.5 million drams to complete  15 subvention programs
Economy Minister on the situation with Iranian trucks: We have a  Economy Minister on the situation with Iranian trucks: We have a  "Plan B"
 Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants
Armenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimesArmenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimes
Armenia and Singapore exclude double taxationArmenia and Singapore exclude double taxation
Government of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxationGovernment of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxation
The leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contactsThe leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contacts
American company Wabtec shows interest in the Armenian market American company Wabtec shows interest in the Armenian market 
Deputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy themDeputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy them
Drip irrigation. 5 questions and answers with Converse BankDrip irrigation. 5 questions and answers with Converse Bank
World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050
Expert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for ArmeniaExpert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for Armenia
Central Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annumCentral Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annum
Efforts are underway to enhance seismic safety at Armenian NPPEfforts are underway to enhance seismic safety at Armenian NPP
EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion 
Central Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflationCentral Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflation
Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%
Central Bank Governor: Inflation in Armenia is more supply-drivenCentral Bank Governor: Inflation in Armenia is more supply-driven
Central Bank: Transfers from USA to Armenia are growing rapidlyCentral Bank: Transfers from USA to Armenia are growing rapidly
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Fitch affirms Armenia at `B+`; upgrading forecast for GDP growth to  5.5% in 2021

 Saturday, September 25 2021
Fitch affirms Armenia at `B+`; upgrading forecast for GDP growth to  5.5% in 2021

ArmInfo. Fitch Ratings has affirmed Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook. This is stated in the Fitch  report, which provides revised forecast for Armenia's GDP growth for  2021 towards growth. 


Economy

Ministry of Finance of Armenia: Average salary increased by 5.4%,  unemployment by 1.6%

ArmInfo.The average monthly salary (average earnings) in Armenia in Jan-June 2021, compared to last year, increased by 5.4%, amounting to 196 thousand 400 drams.  This was announced on September 27 by Minister of Finance of the  Republic of Armenia Tigran Khachatryan, presenting the progress of  the implementation of the state budget for the first half of the year  for 2021 at a meeting of the Standing Committee on Financial-Credit  and Budgetary Affairs.

Central Bank of Armenia expects inflation to return to target  threshold

ArmInfo. Despite the fact that annual inflation in Armenia reached 8.8% in August 2021, and the growth continues, the Central Bank expects inflation to return to the  target value of 4%. This was stated by the Deputy Chairman of the  Central Bank of the Republic of Armenia Nerses Yeritsyan on September  27 at a meeting of the Standing Committee on Financial-Credit and  Budgetary Issues on the Execution of the State Budget for the first  half of 2021.

In Armenia, economic activity increased by 4.9% in 8 months of 2021
IRNA: Volume of exports from Iran to Armenia increased significantly

Finance and banks

A Success Story - Green Energy

ArmInfo.“Optimum Energy was founded in 2013. The company is engaged in the construction of solar stations, and we also have our own solar stations.

Head of  CBA  took part in 22nd meeting of Advisory Board on Monetary  Policy of Central (National) Banks of EEU Member States

ArmInfo.Chairman of the Central Bank of Armenia Martin Galstyan took part in the 22nd meeting of the Advisory Board on Monetary Policy of Central (National) Banks  of Member States of the Eurasian Economic Union , which was held on  September 23 in Bishkek (Kyrgyzstan). On September 24, ArmInfo was  informed about this by the press service of the RA Central Bank.

Affordable mortgage and more. Converse Bank is the partner of Build Armenia
In 2025, Armenia will allocate almost $ 1.4 billion for government debt repayment and services

Insurance

Growth of vehicles with CMTPL insurance resumes in Armenia and an  upward trend in fees has been outlined

ArmInfo. The growth of vehicles with CMTPL (compulsory motor third party liability policy) resumed in Armenia. And as evidenced by the data of the Bureau of  Motor Insurers of Armenia, their number increased in January-August  2021 by 1% per annum, with an exit from the 2.9% decline a year  earlier, but so far it is much inferior to the pre-covid upward rate  of 13% for the same period in 2019.

Number of beneficiaries of agricultural insurance in Armenia exceeded  the the entire 2020 indicator 

ArmInfo.The number of beneficiaries of the state agricultural insurance program in Armnia, according to the latest data, has reached 4,300, while for the entire  2020, 1,500 contracts alone were concluded between farmers and  insurance companies. Head of Department of Agricultural Programs  Elaboration, Resource Use and Cooperative Development of the RA  Ministry of Economy Ira Panosyan informed about this.

Insurance Foundation for Servicemen reported on payments made from  June 2020 to June 2021
The number of terminated CMTPL contracts continues to grow rapidly in  Armenia
Energy

Rosatom Corporation and Armenian government are preparing memorandum  on construction of new medium-capacity nuclear power plant

ArmInfo.The "Rosatom" State Corporation and the government of Armenia are developing a memorandum on the construction of a new nuclear power plant in the country. Project manager of the "Rusatom Service" JSC Yuri Sviridenko announced at a  recent round table on energy.

Papikyan and Kopyrkin discussed prospects for construction ofnew  nuclear power plant in Armenia

ArmInfo.On September 23, Deputy Prime Minister of Armenia Suren Papikyan received Ambassador of Russia to Armenia Sergey Kopyrkin.  As reported by the office of the Deputy Prime Minister, Papikyan noted that the Armenian-Russian  relations are at a high level and expressed confidence that the  fruitful cooperation will continue.

"Electric Networks of Armenia" Company starts implementation of  second stage of modernization of electric grid facilities
Mher Grigoryan reports on certain difficulties in negotiations with  Gazprom

Technology

Armenia to start developing innovative activities in cooperation with  Skolkovo Foundation

ArmInfo.The Armenian Imagine HUB by Soft company and the Skolkovo Foundation signed a memorandum on innovative cooperation. According to the press service  of the Ministry of Economy of Armenia, the document was signed during  the Armenian Business Forum, by Director of Imagine HUB by Soft Inga  Vardazaryan and and Alexander Okunev, Deputy Vice- President for  Regional Development and Cooperation with the CIS of the SKOLKOVO  Foundation.

Armenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimes

ArmInfo. On September 16, the Armenian government approved the ratification of the Agreement on Cooperation between the Member States of the Commonwealth of  Independent States in the fight against crimes in the field of  information technology, signed in Dushanbe on September 28, 2018.

A number of Dutch companies are interested in cooperation with  Armenia in IT field
TUMO and Beeline create unique opportunities for education of  Armenian youth

Real estate

Deals on sale and lease of agricultural land are growing rapidly in  Armenia

ArmInfo.63,173 real estate transactions were carried out in the regions of Armenia in H1 2021, with an annual growth of 29.2%. At the same time, according to the RA  Real Estate Cadastre State Committee, the number of real estate  purchase and sale transactions in the regions increased by 24.2% per  annum to 17,387, and rent - by 6.6% to 2,824.  

Foreigners in Armenia prefer to sell real estate rather than buy it

ArmInfo. In the first half of 2021, 1,919 real estate transactions were carried out by foreigners in Armenia, which is 14.7% more than a year ago. According to the RA  State Cadastre of Real Estate, in total, non-residents accounted for  7.7% of the total number of transactions, against 8.4% in the same  period a year earlier.

Armenia`s financial authorities intend to gradually abandon the program for the return of income tax within the framework of mortgage lending
Agricultural land sales remain high in the regions of Armenia


ArmInfo. In H1 2021, Armenia reduced the export of copper ore by 9.5% per annum (against 17.8% growth a year earlier) - to 240.5 thousand tons. At the same  time, having increased the customs value by 50% - up to $ 421.3  million.

ArmInfo. The alcohol industry in Armenia has recovered from the coronavirus crisis. The volumes of alcoholic beverages produced and exported have increased  after a prolonged decline during 2020 due to the outbreak of the  coronavirus pandemic.



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