ArmInfo NewsFeed
EventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in TbilisiEventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in Tbilisi
National Geographic recommends visiting Armenia as an attractive  tourist destinationNational Geographic recommends visiting Armenia as an attractive  tourist destination
Pashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementationPashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementation
Projects implemented jointly with Rosatom State Corporation discussed  in ArmeniaProjects implemented jointly with Rosatom State Corporation discussed  in Armenia
Assessing long-term impact of new US sanctions against Russia will  take time - Central Bank GovernorAssessing long-term impact of new US sanctions against Russia will  take time - Central Bank Governor
Martin Galstyan: Azerbaijan is not among top 50 remittance  destinationsMartin Galstyan: Azerbaijan is not among top 50 remittance  destinations
Armenian Parliament approves report on  Execution of State Budget for  2023Armenian Parliament approves report on  Execution of State Budget for  2023
Fly Arna staff demand salariesFly Arna staff demand salaries
Pashinyan: Work has begun on developing program to address priority  issues for restoring disaster zone Pashinyan: Work has begun on developing program to address priority  issues for restoring disaster zone 
Instant money transfers from Russia to Armenia with the “ФОРА-БАНК” appInstant money transfers from Russia to Armenia with the “ФОРА-БАНК” app
Since 2017, National Foundation for Servicemen Insurance has paid  monetary compensation to families of 5,345 dead, missing servicemenSince 2017, National Foundation for Servicemen Insurance has paid  monetary compensation to families of 5,345 dead, missing servicemen
Armenia`s CB revises GDP growth forecast for 2024 upward Armenia`s CB revises GDP growth forecast for 2024 upward 
Economic entities must not get accustomed to Economic entities must not get accustomed to "cottonwood existence" -  minister
State budget both financial and political document - minister State budget both financial and political document - minister 
Premier was presented with draft strategic employment programPremier was presented with draft strategic employment program
WB does not change previous improved forecast for Armenia`s GDP  growth of 5.5% in 2024 and 4.9% in 2025 WB does not change previous improved forecast for Armenia`s GDP  growth of 5.5% in 2024 and 4.9% in 2025 
Martin Galstyan: Under favorable conditions, loan interest rates may  dropMartin Galstyan: Under favorable conditions, loan interest rates may  drop
CBA: GDP above-potential growth and its non-widespread nature poses  uncertainties regarding relative position of aggregate demand versus  aggregate supplyCBA: GDP above-potential growth and its non-widespread nature poses  uncertainties regarding relative position of aggregate demand versus  aggregate supply
Central Bank Governor: Inflation in Armenia to approach 2.2%-2.5% by  end of yearCentral Bank Governor: Inflation in Armenia to approach 2.2%-2.5% by  end of year
Armenia`s Central Bank expects additional incentives after Government  increases spending on eliminating consequences of disaster Armenia`s Central Bank expects additional incentives after Government  increases spending on eliminating consequences of disaster 
idcoin: New tool in IDBank’s loyalty systemidcoin: New tool in IDBank’s loyalty system
Armenia`s Central Bank continues reducing refinancing rate Armenia`s Central Bank continues reducing refinancing rate 
Income tax on mortgage loans to be abolished in 2029 Income tax on mortgage loans to be abolished in 2029 
About 173 Million Drams and More Than 30 Beneficiary Funds. About 173 Million Drams and More Than 30 Beneficiary Funds. "The Power of One Dram" is 4 Years Old
Armenia to participate in Food Africa-2024 exhibition Armenia to participate in Food Africa-2024 exhibition
EasyPay Supports Launch of “Financial Literacy” Program by Armenian Code Academy and Technological Education Foundation EasyPay Supports Launch of “Financial Literacy” Program by Armenian Code Academy and Technological Education Foundation 
 Team promotes business education: CaseKey Academy opened Team promotes business education: CaseKey Academy opened
Armenian-Indian business forum held in YerevanArmenian-Indian business forum held in Yerevan
Armenia elected UN Economic and Social Council Member for 2025-2027Armenia elected UN Economic and Social Council Member for 2025-2027
Central Bank identifies two main risks threatening Armenia`s  financial stabilityCentral Bank identifies two main risks threatening Armenia`s  financial stability
Armswissbank issues 3 bonds from the 10th of juneArmswissbank issues 3 bonds from the 10th of june
The Power of One Dram to The Road of Life: July`s Beneficiary is Strong MindThe Power of One Dram to The Road of Life: July`s Beneficiary is Strong Mind
Recent floods in Armenia confirm need to ensure food security -  statementRecent floods in Armenia confirm need to ensure food security -  statement
AraratBank places dollar bondsAraratBank places dollar bonds
Russia making efforts to resume launch of Mir cards in Armenia,  Kyrgyzstan Russia making efforts to resume launch of Mir cards in Armenia,  Kyrgyzstan 
Deputy Minister of Finance: Export of goods of Armenian origin  decreased by 14.3% in Q1 2024Deputy Minister of Finance: Export of goods of Armenian origin  decreased by 14.3% in Q1 2024
OVIO modernizes its sales and service centers in Kapan, Kajaran and  GyumriOVIO modernizes its sales and service centers in Kapan, Kajaran and  Gyumri
EU to allocate EUR11 million for next 5 years to implement R2D Syunik  projectEU to allocate EUR11 million for next 5 years to implement R2D Syunik  project
New sports complex to be constructed in KapanNew sports complex to be constructed in Kapan
Higher-rate economic activity growth in Armenia Higher-rate economic activity growth in Armenia 
 Armenia`s regional administration to receive AMD 2.5bln for  subvention programmes  Armenia`s regional administration to receive AMD 2.5bln for  subvention programmes 
Turnover tax forming unhealthy economic environment should be  abolished - premier Turnover tax forming unhealthy economic environment should be  abolished - premier 
Armenia is especially loved by tourists from Russia, Georgia, Iran,  the USA, Germany, France, Ukraine, China and BelarusArmenia is especially loved by tourists from Russia, Georgia, Iran,  the USA, Germany, France, Ukraine, China and Belarus
CBA CBA "accuses" bank clients of "illogical behavior"
Sanosyan: some problems arose during implementation of first landfill  construction projectSanosyan: some problems arose during implementation of first landfill  construction project
Russian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for ArmeniaRussian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for Armenia
YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food productsYOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food products
Agriculture is becoming labor reservoir for more efficient service  industry - expertAgriculture is becoming labor reservoir for more efficient service  industry - expert
Part of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientistPart of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientist
EU allocated EUR 2.9 million to Armenia for rebranding of Armenian  brandyEU allocated EUR 2.9 million to Armenia for rebranding of Armenian  brandy
Use of electric cars and solar energy will limit Armenia`s dependence  on oil and gas marketsUse of electric cars and solar energy will limit Armenia`s dependence  on oil and gas markets
Armenian MFA: decision on Armenia`s participation in Chabahar port  project to be made within few monthsArmenian MFA: decision on Armenia`s participation in Chabahar port  project to be made within few months
Papoyan: export development strategy is almost readyPapoyan: export development strategy is almost ready
North-South`s construction odyssey: Only 10% of road has been  completed in 12 yearsNorth-South`s construction odyssey: Only 10% of road has been  completed in 12 years
Formation of common energy markets major factor of EAEU development -  Armenian vice-premier Formation of common energy markets major factor of EAEU development -  Armenian vice-premier 
Armenia`s taxpayers carried out 59.9mln transactions worth AMD  1,086blnArmenia`s taxpayers carried out 59.9mln transactions worth AMD  1,086bln
Armenian producers to participate in Sial-2024 exhibition in Paris Armenian producers to participate in Sial-2024 exhibition in Paris 
Armenia requests assistance from European Peace Foundation - FMArmenia requests assistance from European Peace Foundation - FM
Armenian producers to participate in Foodex Saudi-2024Armenian producers to participate in Foodex Saudi-2024
Armenia, Ukraine considering prospects for development of bilateral  economic ties Armenia, Ukraine considering prospects for development of bilateral  economic ties 
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Talk of the day

Armenia`s CB revises GDP growth forecast for 2024 upward 

 Wednesday, June 12 2024
Armenia`s CB revises GDP growth forecast for 2024 upward 

ArmInfo.The Central Bank of Armenia has revised its GDP growth forecast for 2024 from the  previous 5.3-6.4% to an updated 6.8-6.1% (against 8.7% growth in  2023), depending on the formation of high or low inflation.

Economy

National Geographic recommends visiting Armenia as an attractive  tourist destination

ArmInfo.The famous periodical National Geographic published an article presenting Armenia as an   attractive destination. This was reported by the press service of  the RA Tourism Committee.

Pashinyan: program for providing housing to forcibly displaced  persons from Nagorno-Karabakh is entering practical stage of  implementation

ArmInfo.The program for providing housing to internally displaced persons from Nagorno-Karabakh is entering the practical stage of implementation. RA Prime Minister Nikol Pashinyan stated at a government meeting on June 14.

Armenian Parliament approves report on  Execution of State Budget for  2023
Fly Arna staff demand salaries

Finance and banks

EventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in Tbilisi

ArmInfo.EventHub․am platform has become the official ticketing agent in Armenia for the concert of the world-renowned Black Eyed Peas to be held in Tbilisi, thanks to which tickets can now be purchased in Armenian drams. The concert will be held on July 7 at the Boris Paichadze Dynamo Arena.

Assessing long-term impact of new US sanctions against Russia will  take time - Central Bank Governor

ArmInfo.Assessing the long-term impact of new US sanctions against Russia, including  against the Moscow Exchange,  will take a certain period of time. This was stated by Martin Galstyan, Governor of the Central Bank of the Republic of Armenia, at the National Assembly of the Republic of  Armenia on June 13.

Martin Galstyan: Azerbaijan is not among top 50 remittance  destinations
Instant money transfers from Russia to Armenia with the “ФОРА-БАНК” app

Insurance

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

ArmInfo.As part of a pilot program to introduce an agricultural insurance system, the Armenian government will not only subsidize insurance premiums, but will also compensate the costs of insurance companies if a certain threshold of insurance payments is exceeded.

ADB intends to expand its areas of activity in Armenia
By rebranding, INGO Armenia IC begins new stage of development
Energy

Projects implemented jointly with Rosatom State Corporation discussed  in Armenia

ArmInfo.A delegation of Rosatom State Corporation headed by Rosatom First Deputy CEO for  Corporate Development and International Business, Kirill Komarov arrived in Armenia.  On June 13, Komarov was received by Deputy Prime Minister Mher Grigoryan. According to the press service of the RA  government, during the meeting the interlocutors discussed the progress of projects implemented in Armenia in cooperation with Rosatom.

Part of main gas pipeline supplying Armenia with Russian gas will  come under Azerbaijani control - political scientist

ArmInfo. As a result of the surrender of the territories of Armenia, part of the main gas  pipeline supplying the republic with Russian gas will come under the control of Azerbaijan.

Use of electric cars and solar energy will limit Armenia`s dependence  on oil and gas markets
Formation of common energy markets major factor of EAEU development -  Armenian vice-premier 

Technology

Team promotes business education: CaseKey Academy opened

ArmInfo.CaseKey Academy has opened in Armenia, promising to give a new impetus to business  education in Armenia. Trusting the CaseKey team and considering many years of effective cooperation, Team Telecom Armenia has become a partner of the Academy. As reported by the company's press service,  the Academy opened its doors to young professionals and students with the aim of developing their business skills and promoting international cooperation.

OVIO modernizes its sales and service centers in Kapan, Kajaran and  Gyumri

ArmInfo.The opening of the renovated sales and centers of OVIO, which were modernized within the framework of rebranding, took place in Kapan, Kajaran and Gyumri.

Russian Digital Attache in Armenia: Russia`s experience in building  underwater fiber-optic link may be relevant, including for Armenia
Armenia supports largest ever operation against botnets

Real estate

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

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
State Revenue Committee of Armenia clarifies issues related to real  estate rental

Statistics

Higher-rate economic activity growth in Armenia 

ArmInfo. In Armenia, the growth of economic activity in January-April 2024 accelerated to 13.2% per  annum (from 12.2% in the same period of 2023). But unlike last year, now the driver of growth is not only the trade sector, but also the industrial sector. As evidenced by the final data of the RA Statistical Committee, this was accompanied by continued high growth rates of exports and imports.

YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food products

ArmInfo. YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to cheap prices of the most  demanded food products. Thus, in May 2024 compared to May 2023, food products decreased in price by 1.1%, almost repeating last year's decline of 1.2%. Moreover, butter, buckwheat, pasta, flour, cereals,  cheeses, fish, sugar, and meat fell in price most noticeably. 

Price index for industrial products in Armenia, began to rise amid  high growth in industrial production

ArmInfo. In Armenia, the price index of industrial products began to rise. Thus, in January-April  2024, the price index for industrial products totaled 100.7% (versus 98.9% in the same period in 2023). This was observed against the backdrop of a sharp acceleration in the y-o-y growth of the industrial sector from 2.4% to 26.8% in January-April 2024, providing volumes of 953.3 billion drams ($2.4 billion).

Food products, services cause of 0.8% inflation in Jan-Apr 2024 

ArmInfo.In Armenia, four-month inflation of 0.8% was triggered by food and services, which rose in  price by 1.8% and 0.9%, respectively, while non-food products fell in price by 1.6%. This is not much different from last year's picture, when in January-April 2023 inflation of 0.9% came from an increase in  food prices by 1.6% and an increase in the price of services by 1.1%, with a decrease in the price of non-food goods by 1%. This is evidenced by the data of the RA Statistical Committee.

Armenia`s metallurgical industry increased production volumes by 37%  in first 2 months
1.2% y-o-y inflation in Armenia`s consumer market in March 2024 was  caused by drop in food prices 
Price index of industrial products is decreasing in Armenia
Industrial sector driver of economic activity in Armenia 
Exchange rates
14.06.2024
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