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MP: Recession in Armenian economy will continue

 Friday, September 18 2020
MP: Recession in Armenian economy will continue

ArmInfo.The recession in the Armenian economy will continue. On September 18 from the rostrum of the National Assembly of the Republic of Armenia the MP from the  opposition "Prosperous Armenia" faction Mikael Melkumyan stated this.


EBRD and EU to provide Armenia with 21.1 mln EUR for the  modernization of the Meghri checkpoint

ArmInfo. The European Bank for Reconstruction and Development and the European Union will provide Armenia with 21.1 million euros for the modernization of the  Meghri checkpoint bordering Iran. The RA National Assembly at its  session on September 18 discusses the agreement with the Bank  submitted by the government for ratification.

Armenian wines to be presented at festival in Moscow

ArmInfo.A wine festival will be held in Moscow on September 20, in which such wine brands of Armenia as Karas, Keush, Van Ardi, Voskevaz, Kataro, Old Bridge,  Alluria, Tushpa, Armenia Wine Company will participate.

Armenia and Georgia will exchange preliminary electronic information  on the movement of vehicles and goods
Heads of SNCOs of Armenia will be selected on a competitive basis

Finance and banks

Warsaw Stock Exchange intends to become the controlling shareholder  of the Armenian Stock Exchange

ArmInfo. Warsaw Stock Exchange (WSE/GPW) intends to become the controlling shareholder of the Armenian Stock Exchange. As the press service of the Central Bank  of Armenia told ArmInfo,

Moodys has upgraded the rating of IDBank: outlook changed to stable

ArmInfo.Moody’s international rating agency has upgraded IDBank’s long-term foreign and local currency deposit ratings to B2 from B3; outlook changed to stable.

Your shopping is now more profitable with IDBank and Idram
The rights of minority shareholders of commercial banks and credit  organizations of Armenia will be increased


Membership in international Green Card system and broad cooperation  within CIS countries -these are the goals of Armenian Motor Insurers`  Bureau

ArmInfo.The Bureau of Auto Insurers of Armenia celebrates its 10th anniversary in September. By that date, the Bureau issued a progress report and presented in  figures the achievements on the main indicators. As ArmInfo was told  in the press service of the Bu Armenian Motor Insurers' Bureau, the  Bureau's long-term plans include membership in the international  Green Card system and broad cooperation within the framework of the  CIS countries. In the medium term, it is planned to liberalize  insurance premiums either with the establishment of maximum and  minimum thresholds, or without the need for them.

Certificates of insurance of e-CMTPL have grown several-fold in  Armenia

ArmInfo. In Armenia, the share of electronic CMTPL (e- CMTPL) certificates of insurance in the total number of contracts increased 3-fold by August 2020 - up to 13% from 4% a year earlier.

Expert: The agricultural insurance program has shown its  effectiveness, despite the 100% loss ratio
FinRating ArmInfo: Agreements on tourism and cargo transportation  segments have significantly declined in the insurance market

Interdepartmental Commission will study the problems of small HPPs on   Yeghegis River

ArmInfo. Taking into account the catastrophic ecological state in the Yeghegis river gorge and the critical low water level in the river, an interdepartmental working group will be created in a short time on the instructions of RA  Minister of Environment Romanos Petrosyan, which will deal with the  problems of 17 small hydroelectric power plants located on the  Yeghegis river.  This was reported by the press service of the  Ministry.

Reactor annealing unit delivered to Armenian NPP

ArmInfo. An installation for the reduction annealing (heat treatment) of the reactor vessel metal was delivered to the Armenian NPP. The plant will be prepared  for the final part of the work on extending the service life, which  will take place in 2021 - the reactor will be annealed, which will  return it to its original state by 80-85%.

Equipment worth over 9 billion AMD needs to be imported to ensure the  normal construction process of Yerevan TPP unit 
Mnatsakanyan is assured: Armenia will manage to agree with Russia on  gas prices


CyHub Armenia webinar guest will be technical consultant for Mr.  Robot TV show`s seasons Ryan Kazanciyan

ArmInfo.As part of the CyHub Armenia initiative, run by the Enterprise Incubator Foundation (EIF), a number of webinars will be held, one of the guests of which  will be Ryan Kazanciyan an international cybersecurity expert,  Facebook security engineer and technical consultant for the Mr. Robot 

Engineering and Scientific Center of Applied Sciences to be  established in Armenia

ArmInfo. An engineering and scientific center of applied sciences will be established in  Armenia. Government

Armenian specialists from Diaspora will bring their experience in the  development of the high-tech sector in Armenia
Beeline continues to modernize its 4G mobile network

Real estate

In Armenia, pledged real estate transactions on mortgages increased  by 66.4% in July

ArmInfo. In Armenia, pledged real estate transactions on mortgages increased by 66.4% in July, with a y-o-y decline of 20.7%, amounting to 411. According to the RA  Real Estate Cadastre State Committee, the dominant part (66.7%) was  made in Yerevan, and among the regions the most popular is Kotayk  (10.2%) and least of all Vayots Dzor (0.2%). Most of the mortgage  collateral transactions are made for apartments (270) and private  houses (83), and only 15 - on land plots.

Foreigners sell their real estate in Armenia

ArmInfo. In July 2020, in Armenia, foreigners made 299 transactions for the purchase and sale of real estate, 99 of which were acquisitions. In total,  non-residents accounted for 6% of the total number of transactions  registered in July.

Armenia`s regional leader in real estate transactions is Kotayk egion
Real estate market: Supply began to significantly outstrip demand

ArmInfo.During the period of the state of emergency declared in the country due to the outbreak of the coronavirus pandemic, Armenia significantly increased imports of wheat, barley and buckwheat.

ArmInfo.The coronavirus crisis has seriously affected the alcoholic beverages industry in Armenia - the alcohol market is experiencing a negative trend, and  restrictive measures that lasted for months make it impossible to  restore the former production and sales volumes. In particular, in  January-July 2020, the dynamics of absolutely all alcoholic beverages  produced in the country turned towards a decline, whereas a year  earlier, in the same period, a significant increase was recorded.


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