Armenia-UAE economic and technical cooperation commission to meet in  Abu Dhabi 

 Monday, May 20 2024 15:58:02
Armenia-UAE economic and technical cooperation commission to meet in  Abu Dhabi 

ArmInfo. A delegation of the Armenian Ministry of Economy led by Minister Gevorg Papoyan will be  in Abu Dhabi from May 20 to 22.

Armenia`s government plans to implement housing programme for  forcibly displaced people in next 10-12 years
 Monday, May 20 2024 15:41

ArmInfo.In the next 10-12 years, the Armenian authorities will spend about 700-800 billion drams to implement a program to support the provision of housing to families forcibly displaced from Nagorno-Karabakh. The details of the program were presented by the coordinator of individual functions of the structural divisions of the Ministry of Labor and Social Affairs of the Republic of Armenia Gayane Karagyozyan.

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Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
 Friday, May 17 2024 19:30

ArmInfo.On May 17, the NA Standing Committee on Economic Affairs debated the draft law on Making  Amendments and Addenda to the RA Tax Code with the attached legislative package in the first reading. It was presented by the RA Deputy Minister of Finance Arman Poghosyan, the press service of the  RA NA reports.

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Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
 Friday, May 17 2024 15:48

ArmInfo. According to the latest data, the share of small and medium- sized businesses in Armenia's  GDP is about 25%. Meanwhile, in developed countries, this indicator usually varies between 50-60%.

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Liability for misrepresented information is proposed in Armenia
 Friday, May 17 2024 15:42

ArmInfo.On May 17, the NA Standing Committee on Economic Affairs debated the draft law on  Making Addendum and Amendments to the RA Code on Administrative Offenses in the first reading, which was presented by the Deputy Chairman of the RA State Revenue Committee Artur Manukyan.

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Government proposes to make changes to car trade system within  "Trade-in" program
 Friday, May 17 2024 15:40

ArmInfo.The Armenian government proposes to make changes to the car trade system within the framework  of the "Trade-in" program (exchanging an old car for a new one with an additional payment). At May 17 meeting , the RA NA Standing Committee on Economic Affairs issued a positive conclusion on the amendments to the law "On Trade and Services" submitted by the executive body.

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Armenian lawyers unwilling to pay taxes on universal basis
 Friday, May 17 2024 12:07

ArmInfo.Lawyers in Armenia express dissatisfaction with the draft amendments to the Tax Code,  according to which, from January 1, 2025, public defenders will be transferred to the general field of taxation.

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EU Commissioner: EU will continue to contribute to economic  development of Armenia
 Thursday, May 16 2024 21:18

ArmInfo. On May 16, Prime Minister of the Republic of Armenia Nikol Pashinyan received  EUCommission Executive Vice-Preside,Trade Commissioner Valdis  Dombrovskis.

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PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
 Thursday, May 16 2024 21:07

ArmInfo. Prime Minister Nikol Pashinyan received Axel van Trotsenburg, World Bank Senior Managing  Director of Development Policy and Partnerships, and  Alfonso Garcia  Mora International Finance Corporation (IFC) Regional Vice President.

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EBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
 Thursday, May 16 2024 21:04

ArmInfo. President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso  believes that Armenia is a good example of productive assistance to  the country and its reforms. She stated on May 16 at a press  conference following the 33rd Annual Meeting of the Bank in Yerevan.

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Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
 Thursday, May 16 2024 20:45

ArmInfo. Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development  (EBRD), clarified what caused the "optimism" of the EBRD, which in  its latest report forecasted a 6.2% growth of the Armenian economy,  answering a question from an ArmInfo correspondent. 

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Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
 Thursday, May 16 2024 19:54

ArmInfo. The Ministry of Finance of Armenia signed a cooperation agreement with the French Development  Agency (The Agence Francaise de Developpement - AFD) for 2024-2027. The Agency's  press service reports, referring to the results of a meeting in the RA government, which took place with the participation  of the Ambassador of France to Armenia Olivier Decottignies  and Bertrand Walckenae, Deputy CEO the AFD.

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Government to allocate additional AMD 3 billion to finance state  order for healthcare
 Thursday, May 16 2024 16:24

ArmInfo. On May 16, the Armenian government decided to redistribute funds and allocate 3 billion drams  to fulfill the state order for healthcare.

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Pankin: Armenia`s suspension of CSTO funding isn`t tragedy
 Thursday, May 16 2024 16:16

ArmInfo.  Armenia's suspension of funding to the CSTO is not a tragedy; Yerevan is not leaving the  organization. This was stated by Deputy Foreign Minister of the  Russian Federation Alexander Pankin during a session within the  framework of the international economic forumentiteled "Russia -  Islamic World: KazanForum".

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Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
 Thursday, May 16 2024 14:41

ArmInfo. On May 16, the Armenian government approved a program to support the providing of housing to  families forcibly displaced from Nagorno-Karabakh.

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EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
 Thursday, May 16 2024 10:57

ArmInfo.The European Bank for Reconstruction and Development (EBRD) and the United States Agency  for International Development (USAID) have signed a Memorandum of Understanding (MoU) to develop the Trans-Caspian International Transport Route, also known as the Middle Corridor, to further enhance connectivity between Asia and Europe, via the South Caucasus.

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Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
 Wednesday, May 15 2024 19:08

ArmInfo. In recent years, the economy of the Republic of Armenia has recorded  a great growth. Since the non-violent Velvet Revolution of 2018, the Armenian economy has grown by almost 30%, state budget revenues have increased by more than 91%, and about 200 thousand jobs have been opened, which means an increase in the total number of jobs by about 37%.

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Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
 Wednesday, May 15 2024 17:59

ArmInfo. Despite numerous negative factors, Armenia remains resilient and the economy continues to  record good results, said Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development (EBRD), on May 15 at the Bank's Annual Meeting in Yerevan.

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Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
 Wednesday, May 15 2024 17:14

ArmInfo. T Minister of Territorial Administration and Infrastructures of Armenia Gnel Sanosyan refrained   from specifying even the approximate cost of the North-South Road Corridor Investment Program and preferred not to indicate the deadlines of its implementation.

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EBRD promises unprecedented investments in Armenian economy
 Wednesday, May 15 2024 17:12

ArmInfo.In 2024, the volume of investments of the European Bank for Reconstruction and Development  (EBRD) will be in an unprecedented amount - up to 500 million euros. Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development (EBRD) stated on May 15 at the Annual Meeting of the Bank in Yerevan.

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Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
 Wednesday, May 15 2024 15:21

ArmInfo. The European Bank for Reconstruction and Development (EBRD) is lending EUR 236 million to  Armenia to finance the construction of the southern section of the Sisian-Kajaran road.  

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News
Ameriabank`s Trade Finance portfolio enriched with four prestigious awards from EBRD and IFCAmeriabank`s Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC
Armenia-UAE economic and technical cooperation commission to meet in  Abu Dhabi Armenia-UAE economic and technical cooperation commission to meet in  Abu Dhabi 
Armenia`s government plans to implement housing programme for  forcibly displaced people in next 10-12 yearsArmenia`s government plans to implement housing programme for  forcibly displaced people in next 10-12 years
Communications Museum re-opened in YerevanCommunications Museum re-opened in Yerevan
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy MinisterDouble increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
Rocket Line - now for 60 months: Idram and IDBankRocket Line - now for 60 months: Idram and IDBank
Rising prices for services, going into shadows and closing businesses  - incomplete list of Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
Liability for misrepresented information is proposed in ArmeniaLiability for misrepresented information is proposed in Armenia
Government proposes to make changes to car trade system within  Government proposes to make changes to car trade system within  "Trade-in" program
Armswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transitionArmswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transition
Armenian lawyers unwilling to pay taxes on universal basisArmenian lawyers unwilling to pay taxes on universal basis
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Ambassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEUAmbassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEU
EBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEsEBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEs
Thanos Arvanitis: The time has come for Armenia to accelerate reformsThanos Arvanitis: The time has come for Armenia to accelerate reforms
Armenia to host 33rd EBRD Business Forum with flagship sponsorship of ArdshinbankArmenia to host 33rd EBRD Business Forum with flagship sponsorship of Ardshinbank
EAEU economic operators will become more recognizable when carrying  out foreign economic activitiesEAEU economic operators will become more recognizable when carrying  out foreign economic activities
Martin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decreaseMartin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decrease
About 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economyAbout 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economy
92% tax revenues recorded in Armenia in 1st quarter of 2024 92% tax revenues recorded in Armenia in 1st quarter of 2024 
IDBank issues the 2nd tranche of dollar bonds of 2024IDBank issues the 2nd tranche of dollar bonds of 2024
Armenia to be next country to host ACE programArmenia to be next country to host ACE program
Armenia agrees to EBRD expansion Armenia agrees to EBRD expansion 
Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure developmentAlkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
Government writes off 469 financial obligations of Artsakh citizens  on loans secured by goldGovernment writes off 469 financial obligations of Artsakh citizens  on loans secured by gold
Food products, services cause of 0.8% inflation in Jan-Apr 2024 Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenia`s Deputy Premier receives IMF delegationArmenia`s Deputy Premier receives IMF delegation
Armenian Economy Minister travels to USA on week-long working visitArmenian Economy Minister travels to USA on week-long working visit
Armenia is trapped in Armenia is trapped in "Dutch disease" - economist
“By Your Side”: IDBank`s new support program for displaced Artsakh citizens“By Your Side”: IDBank`s new support program for displaced Artsakh citizens
Team Telecom Armenia develops Be Free packageTeam Telecom Armenia develops Be Free package
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Exchange rates
20.05.2024
RUB4.290.03
USD387.970.37
EUR421.761.64
GBP492.842.53
CAD284.920.76
JPY24.910.04
CNY53.640.01
CHF426.900.68


Experts
Expert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisionsExpert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisions
Expert on Armenia`s international trade growth against Expert on Armenia`s international trade growth against "miserable  trade pattern"  
Expert: Armenia should use Georgian, Turkish transit opportunitiesExpert: Armenia should use Georgian, Turkish transit opportunities
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Commented
Yerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientistYerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientist
Gevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in ArmeniaGevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in Armenia
Bank of Georgia announces proposed acquisition of Ameriabank for  $303.6 millionBank of Georgia announces proposed acquisition of Ameriabank for  $303.6 million

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