ArmInfo NewsFeed
Wine output records 32.6% y/y decline in Jan-May Wine output records 32.6% y/y decline in Jan-May 
ICC NCA to assist organization of WCIT2024 in Armenia ICC NCA to assist organization of WCIT2024 in Armenia 
New social vulnerability assessment system to be introduced in  Armenia New social vulnerability assessment system to be introduced in  Armenia 
Armenia`s government to provide AMD 2.2bln to construction  organizations Armenia`s government to provide AMD 2.2bln to construction  organizations 
AMD 4․046․161  to the Strong Mind NGO. July`s beneficiary is the SIA Armenia programAMD 4․046․161 to the Strong Mind NGO. July`s beneficiary is the SIA Armenia program
Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4
Ardshinbank was again Named Best in Two Categories by Asian Banking & Finance MagazineArdshinbank was again Named Best in Two Categories by Asian Banking & Finance Magazine
Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official 
China Southern Airlines launches Urumqi - Yerevan - Urumqi flights China Southern Airlines launches Urumqi - Yerevan - Urumqi flights 
Get 3000 idcoins by synchronizing your Idram and IDBank accountsGet 3000 idcoins by synchronizing your Idram and IDBank accounts
Armenia`s involvement in regional projects emphasized Armenia`s involvement in regional projects emphasized 
Armenian Airlines launches Yerevan-Ufa-Yerevan flightArmenian Airlines launches Yerevan-Ufa-Yerevan flight
Unemployment up in Armenia Unemployment up in Armenia 
Armenia`s economy vulnerable to external shocks - EFSDArmenia`s economy vulnerable to external shocks - EFSD
EAEU Industrial Council considers robotics development programme EAEU Industrial Council considers robotics development programme 
Smart Place: smart solutions for comfort and energy-savingSmart Place: smart solutions for comfort and energy-saving
Russia among Armenia`s major trade partners - Gevorg Papoyan  Russia among Armenia`s major trade partners - Gevorg Papoyan  
Armenia, UAE discuss possibilities of agricultural cooperation Armenia, UAE discuss possibilities of agricultural cooperation 
Expert on `blank spots` of budget planning in Armenia Expert on `blank spots` of budget planning in Armenia 
Armenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy CouncilArmenia`s economy minister to take part in 6th meeting of EAEU  Industrial Policy Council
No payment via Idram? More than 21,000 points of sale accept payment via IdramNo payment via Idram? More than 21,000 points of sale accept payment via Idram
<Gazprom Armenia> will conduct a survey of underground gas pipelines  with a total length of over 335 km will conduct a survey of underground gas pipelines  with a total length of over 335 km
WB to issue grant to Armenia for environmental protection programmes WB to issue grant to Armenia for environmental protection programmes 
JFPR to issue $3mln grant to improve rural household resilience JFPR to issue $3mln grant to improve rural household resilience 
EBRD to issue EUR 2mln grantfor Syunik customs center  EBRD to issue EUR 2mln grantfor Syunik customs center  
Armenia, Georgia discuss possible implementation of regional  high-tech projects Armenia, Georgia discuss possible implementation of regional  high-tech projects 
Ameriabank and COAF Pool Efforts to Develop Beekeeping in Lori RegionAmeriabank and COAF Pool Efforts to Develop Beekeeping in Lori Region
Deputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian marketDeputy Minister of Economy: 58% of Armenia`s agro-food products are  exported to Russian market
Armenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS FoundationArmenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS Foundation
Features of Armenian offshore: SRC assesses lossesFeatures of Armenian offshore: SRC assesses losses
Trend of shadow economy is reducing; Rustam Badasyan assuresTrend of shadow economy is reducing; Rustam Badasyan assures
Tax revenues on schedule in Armenia Tax revenues on schedule in Armenia 
Ball is in US court - Armen Grigoryan on NPP construction Ball is in US court - Armen Grigoryan on NPP construction 
The construction of the Pullman International Hotel complex in Armenia will cost 100 million US dollarsThe construction of the Pullman International Hotel complex in Armenia will cost 100 million US dollars
World Bank does not change Armenia`s status as upper-middle-income  countryWorld Bank does not change Armenia`s status as upper-middle-income  country
Armenian banks` delegation visits OVIO Data Processing CenterArmenian banks` delegation visits OVIO Data Processing Center
In-country tourism recorded 20% average annual growth since 2020 In-country tourism recorded 20% average annual growth since 2020 
Araratbank allocates $10 million in funding to women entrepreneursAraratbank allocates $10 million in funding to women entrepreneurs
State Revenue Committee reminds taxpayers of tax bill deadline State Revenue Committee reminds taxpayers of tax bill deadline 
Powers of Armenia`s Economic Competition Protection Commission to be  expanded Powers of Armenia`s Economic Competition Protection Commission to be  expanded 
Viva-MTS announces rebranding Viva-MTS announces rebranding 
Opinion: project to operate Chabahar port  in medium term will  increase Armenia`s transit capacityOpinion: project to operate Chabahar port  in medium term will  increase Armenia`s transit capacity
Based on preliminary estimates, construction of Ajapnyak metro  station will be completed by 2030-2032Based on preliminary estimates, construction of Ajapnyak metro  station will be completed by 2030-2032
Armenia takes over BSEC chairmanshipArmenia takes over BSEC chairmanship
Outage continues at ANPPOutage continues at ANPP
WB provides $110 million loan to support Enabling Universal Health  Coverage Program for ArmeniaWB provides $110 million loan to support Enabling Universal Health  Coverage Program for Armenia
Wizz Air launches Budapest-Yerevan-Budapest flights Wizz Air launches Budapest-Yerevan-Budapest flights 
Armenia sincerely committed to finalizing negotiations and signing  peace agreement within one month - Vahan KostanyanArmenia sincerely committed to finalizing negotiations and signing  peace agreement within one month - Vahan Kostanyan
New Golden Palace hotel owner allowed to re-mortgage hotel New Golden Palace hotel owner allowed to re-mortgage hotel 
Share of domestic debt exceeds 50% in Armenia`s public debt - expert Share of domestic debt exceeds 50% in Armenia`s public debt - expert 
AMD 1.2 billion bonds of AMD 1.2 billion bonds of "Pharm Credit Armenia" UCO CC have been  listed at Armenia Securities Exchange
Araratbank to pay 26.7% dividends per nominal share  Araratbank to pay 26.7% dividends per nominal share  
Armenian winemakers participate in Vinexpo New-York 2024 for the  first timeArmenian winemakers participate in Vinexpo New-York 2024 for the  first time
North-South road corridor of double importance for ArmeniaNorth-South road corridor of double importance for Armenia
No serious progress in construction of new underground station No serious progress in construction of new underground station 
EDB could invest $500mln projects in Armenia - Denis IlyinEDB could invest $500mln projects in Armenia - Denis Ilyin
The Moody s international rating agency has upgraded IDBank s ratingThe Moody s international rating agency has upgraded IDBank s rating
Slower tax collection rate could affect budget performance - Luys  Foundation Slower tax collection rate could affect budget performance - Luys  Foundation 
Amulsar mine development could start next spring - EBDAmulsar mine development could start next spring - EBD
EDB ready to attract new stockholders, including Turkiye - Nikolai  PodguzovEDB ready to attract new stockholders, including Turkiye - Nikolai  Podguzov
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 Indicators


Talk of the day

Expert on `blank spots` of budget planning in Armenia 

 Monday, July 8 2024
Expert on `blank spots` of budget planning in Armenia 

ArmInfo.n 2024, the shortfall in tax revenues and duties will amount to 116.7 billion drams or 4.5% of  the target. Haykaz Fanyan, head of the ACSES Analytical Center, came to this conclusion by analyzing the indicators underlying the Medium-Term Expenditure Program for 2025- 2027 (MSEP), approved by  the Cabinet of Ministers on July 4.

Economy

New social vulnerability assessment system to be introduced in  Armenia 

ArmInfo. A new system for assessing family poverty will be introduced in Armenia. At a meeting  on July 11, the RA government approved draft amendments to the law "On State Benefits" and a package of related laws.

Armenia`s government to provide AMD 2.2bln to construction  organizations 

ArmInfo. In order to fulfill its obligations to construction organizations that have carried out  work within the framework of subsidy programs, the RA government will allocate 2.228 billion drams. The decision on this was made at the Cabinet meeting on July 11.

Wine-filled days of DILIJAN WINE FEST 2024 will take place on August 3 and 4
Some 20,000 Nagorno-Karabakh Armenians employed in Armenia - official 

Finance and banks

AMD 4․046․161 to the Strong Mind NGO. July`s beneficiary is the SIA Armenia program

ArmInfo.IDBank and Idram transferred AMD 4․046․161 to the "Strong Mind" NGO as part of the June program of “The Power of One Dram” initiative.

Ardshinbank was again Named Best in Two Categories by Asian Banking & Finance Magazine

ArmInfo.Ardshinbank has been declared the winner by the Asian Banking & Finance international magazine, in two categories at once: “Retail Bank of the Year” and the “Private Bank of the Year” in Armenia for 2024. This is how the international panel of experts evaluated Ardshinbank's performance in 2024. The awards were presented to the banks for their innovation, dedication to their work, and exceptional customer service.

Get 3000 idcoins by synchronizing your Idram and IDBank accounts
No payment via Idram? More than 21,000 points of sale accept payment via Idram

Insurance

From January 1, 2026, medical insurance will become mandatory for   tourists  arriving in Georgia

ArmInfo.From January 1, 2026, medical insurance and accident insurance will become mandatory for  tourists  arriving in Georgia.

EFES: swiss and German health guarantees already available in Armenia

ArmInfo.EFES Insurance Company continues its activities by concluding significant international contracts that made international medical achievements financially and technologically available for our population.

Government is ready to share risks with agricultural insurers
ADB intends to expand its areas of activity in Armenia
Energy

will conduct a survey of underground gas pipelines  with a total length of over 335 km

ArmInfo. Within the framework of the work schedule approved for the current year, the company will conduct a comprehensive inspection and diagnostics of underground gas pipelines of the gas transportation system and gas distribution network with a total length of over 335 km, as well as technical devices and process equipment at 15 gas distribution stations (GDS). This is stated in a statement by the  company's press service.

Armenia`s scores are the worst in the Energy Transition Index for the  last decade: LUYS Foundation

ArmInfo. The LUYS Foundation analyzed the report

Outage continues at ANPP
Projects implemented jointly with Rosatom State Corporation discussed  in Armenia

Technology

ICC NCA to assist organization of WCIT2024 in Armenia 

ArmInfo. The Alliance of Advanced Technology Companies has signed a memorandum of  understanding with the National Committee of the International Chamber of Commerce (ICC NCA). Cooperation between the parties involves support in organizing the World Congress of Innovation and Technology (WCIT2024/DigiTec) and assistance in attracting international participants.

Smart Place: smart solutions for comfort and energy-saving

ArmInfo.Team Systems presented its new Smart Place environmental automation systems, which feature  products from world leaders offering smart solutions for apartments, houses, hotels and commercial premises.

Armenia, Georgia discuss possible implementation of regional  high-tech projects 
Viva-MTS announces rebranding 

Real estate

Armenia`s government enlarges list of beneficiaries of housing  programme in border regions 

ArmInfo.At a meeting on June 27, the Government of Armenia introduced changes to the program to  ensure affordable housing for residents of the country's border regions.

Cadastre: apartments have risen in price by 12.9% over year in  Yerevan, with purchasesale transactions increasing by 39.8%

ArmInfo.The average market value of real estate of apartment buildings in Yerevan was 457.3 thousand drams/1 sq.m., in Q1 2024, 12.9% higher than the year-ago figure, according to the  data from the State Real Estate Cadastre  Committee.

60% of land purchase and sale transactions in regions of Armenia in  2023 were land ones
Apartments in Yerevan have risen in price by 10.3% over year

Statistics

Wine output records 32.6% y/y decline in Jan-May 

ArmInfo. Wine production in Armenia in January-May 2024 decreased by 32.6% per annum, amounting  to 3.8 million liters, sparkling wine (champagne) - by 19.3% to 444.8 thousand liters. This is evidenced by the data of the Statistical Committee.

Unemployment up in Armenia 

ArmInfo. In the first quarter of 2024, the unemployment rate in Armenia was 15.5%, while a year  earlier for the same period the unemployment rate was slightly lower - 13.7%. This is evidenced by the data of the RA Statistical Committee.

Armenia`s economy vulnerable to external shocks - EFSD

ArmInfo.In 2024, the growth of the Armenian economy will slow down slightly, but will remain at a  high level of 6.3%. This is stated in the regional economic review of the Eurasian Fund for Stabilization and Development (EFSD) for the summer of 2024.

Industrial price index began to rise amid high industrial production  growth in Armenia

ArmInfo. The industrial price index began to rise in Armenia. Thus, in January-May 2024, the industrial price index was 102.2% (versus 98.4% in the same period of 2023), amid the sharp acceleration in the y-o-y growth of the industrial sector from 3% to 22% in January-May 2024, up to 1.2 trillion drams ($2.97 billion). 

YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food products
Price index for industrial products in Armenia, began to rise amid  high growth in industrial production
Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenian service sector generated revenue of $1.2 billion in first  two months
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