So that old age can be a joy! Present and future of funded pension  reform in Armenia

 Monday, June 17 2024 11:27:00
So that old age can be a joy! Present and future of funded pension  reform in Armenia

ArmInfo. Imagine for a moment that you are a beneficiary of the of the USA represented by Apple, Microsoft, META, NVIDIA, TESLA, Alphabet Inc.  and Amazon. And this became possible by joining the Mandatory Funded  Pension System (MFPS)  of Armenia.  

Expert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisions
 Thursday, April 18 2024 17:31

ArmInfo. I do not share the optimism that Armenia will be able to diversify its export markets in  a few years; maybe it will be possible to somewhat reduce its dependence on the Russian market.  Emil Stepanyan, co-founder of the Export Armenia Association of Experts stated  in a conversation with  an ArmInfo correspondent.

>>>
Expert on Armenia`s international trade growth against "miserable  trade pattern"  
 Wednesday, February 21 2024 18:36

ArmInfo.The overall growth rates of Armenia's international trade turnover for 2023 are marked by unprecedented achievements, however, the structure of exports and imports, unfortunately, indicates the presence of significant imbalances and shifts containing significant long-term macroeconomic risks, Doctor  of Economy Aghasi Tavadyan told ArmInfo. 

>>>
Expert: Armenia should use Georgian, Turkish transit opportunities
 Friday, January 19 2024 19:54

ArmInfo. In order to fully use transit opportunities with Georgia, it is necessary to enter into bilateral negotiations in order to eliminate those measures that are mutually applied to cargo carriers due to the fault of the Armenian side. A similar opinion was expressed by economist Tigran Jrbashyan, presenting the results of the "Ameria" company's "Alternative Wine Export Markets" study.

>>>
Reforms in management of apartment buildings; Government steps away from Soviet-era approaches
 Monday, December 25 2023 20:27

ArmInfo. The Armenian authorities are reforming the institution of management of multi-unit apartment buildings (hereinafter: apartment buildings) and are considering transferring these powers to an external manager (outsourcer). At the same time, in order to protect the interests of the residents, the rights and responsibilities of the developer and the apartment owners are clarified. Tanya Arzumanyan, Head of the Department of Housing Fund Management and Communal Infrastructure of the RA Urban Development Committee, told ArmInfo.

>>>
Armenian startups lack ambition
 Thursday, November 16 2023 12:22

ArmInfo.The international network of impact hubs (centers for social innovation,  entrepreneurship and coworking spaces) began to actively develop around the world in 2009. The opening of such a center in Armenia took place in 2016, which happened in parallel with their  establishment in many countries of Western Europe.

>>>
SRC- from control to total dictatorship
 Tuesday, October 24 2023 14:01

ArmInfo. The legislative changes initiated by the State Revenue Committee (SRC) of Armenia, allowing  the tax authority to request from the taxpayer a bank statement on transactions without a court decision, will lead to the establishment of an "economic dictatorship" in Armenia, based not on the rule of law, but on the principles of permissiveness of the tax authorities .  Eduard Badalyan, an Expert at the Citizen, Taxpayer, Business Rights  Protection NGO shared this point of view in a conversation with an ArmInfo correspondent.

>>>
Amid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad Azour
 Wednesday, September 6 2023 11:11

ArmInfo. A delegation of the International Monetary Fund (IMF) led by Mr Jihad Azour, Director of the IMF Middle  East and Central Asia Department, and Ms Iva Petrova, IMF Mission Chief for Armenia, was on a visit to Armenia recently. In an interview with Mr Emmanuil Mkrtchyan, CEO, ArmInfo News Agency, Mr Jihad Azour said that the IMF delegation visited Armenia on the occasion of the 30th anniversary of the Armenian national currency  and foundation of the Central Bank of Armenia, landmarks in Armenia's history.

>>>
Armenia needs tested and approved nuclear power unit
 Monday, August 7 2023 11:07

ArmInfo. Today is the deadline for the 2-month term for the expert opinion by the interagency group for construction of a new nuclear power unit formed under a decision  by Armenia's Premier Nikol Pashinyan. 

>>>
Economist: one should not expect serious economic growth in Armenia  without industrial development in mid-term
 Monday, July 31 2023 15:24

ArmInfo. There is practically no policy aimed at developing high value-added industries in Armenia.  This, in fact, is evidenced by the data of both the RA Statistical  Committee and the list of the largest domestic taxpayers. Doctor of  Economic Sciences, Professor Ashot Tavadyan expressed a similar point  of view in an interview with ArmInfo.

>>>
Armenian expert on risks of further domestic debt growth 
 Monday, June 5 2023 11:28

ArmInfo.The increase of the share of domestic debt in the total government debt up to 47% in Armenia by  May 2023 can be considered from two aspects - both as an achievement by Armenia's economic authorities and their "involuntary" torpedoing economic progress, Armenia's former minister of finance, international expert Vardan Aramyan said in an interview with ArmInfo. 

>>>
German investments for the sake of Armenia`s sustainable development
 Monday, May 15 2023 15:40

ArmInfo. "We all live under the same sky, but we don't all have the same horizon," the great German politician Konrad Adenauer said, in a tough discussion with the United States on the issue of restoring Germany destroyed by the WW2 and insisted on canceling the initial scenario of turning it into a country with an agriculture-led economy, forcing the ally to the implement the Marshall Plan, aimed at restoring the infrastructure and industrial power of Germany. 

>>>
RUB depreciation to lead to loss of competitiveness of Armenian  products in Russian market- Suren Parsyan
 Tuesday, April 4 2023 15:23

ArmInfo.Further depreciation of the ruble will lead to the loss of competitiveness of goods of Armenian origin in the Russian market and a decrease in the pace of economic  activity in Armenia. Economist Suren Parsyan expressed this opinion  in an interview with ArmInfo.

>>>
Separating apples from oranges: The essence of compliance
 Thursday, March 30 2023 10:52

ArmInfo. Russian resettlers, whose number in Armenia, according to various sources, is estimated from 80 to 100 thousand people, not only contributed to high "statistical" economic growth and low "estimated" inflation in the country, but also made it possible to significantly strengthen the resources of the Armenian banking system.  However, Armenia, having benefited from both people and capital, has appeared under the powerful sanctions lens of the Western countries, which is seriously concerned about the possibility of circumvention of anti-Russian sanctions by countries friendly or neutral to Russia. Armenian banks were immediately warned that they must strictly follow the international regulations against the legalization of proceeds from crime (money laundering) and put up serious barriers to clients' attempts to circumvent anti-Russian sanctions in the course of trading activities.  By and large, by March last year, Armenian banks were not ready for such a turn, and therefore they began to actively implement the so-called compliance control and its tough “barrier” tools.

>>>
Ban on dollar mortgages in Armenia: On guard of consumer interests  or lobbying for banking interests-  Karen Zakaryan
 Monday, February 13 2023 19:00

ArmInfo. Currency volatility causes significant risks not only for the state, but also for those citizens who have foreign currency and especially mortgage loans.  Armenian MPs of the ruling party noted the risks and suggested  issuing mortgages in drams, except in cases where citizens have  proven income in foreign currency.

>>>
Pashinyan-led government has nothing in common with economic growth -  Suren Parsyan
 Monday, February 6 2023 23:06

ArmInfo.The day Russian relocated employees go back to Russia with their capital, Armenia's economic growth will "burst like a soap-bubble," economist Suren  Parsyan said in an interview with ArmInfo. 

>>>
Health insurance in Armenia: Why does social justice contradict  social solidarity in Health Ministry`s compulsory health insurance  concept and what are risks of State Fund control ?
 Tuesday, January 31 2023 15:44

ArmInfo.The model of compulsory health insurance  system (CHI) conceptually proposed by the Armenian Ministry of Health, is not justified and is fraught with serious  risks. Haykaz Fanyan, head of the ACSES Analytical Center (Armenian  Center for Socio- Economic Studies), told ArmInfo.

>>>
Expert: The development of the cryptosector in Armenia is the key to the involvement of new players, the growth of the tax base and jobs  
 Saturday, January 21 2023 11:09

ArmInfo.In the summer of 2022, the State Revenue Committee of the Republic of Armenia appealed to the Central Bank of the Republic of Armenia with a call to ensure the regulation of the cryptosector. Such a need, as noted then by head of the Committee Rustam Badasyan, arose due to cases of tax evasion in this field, money laundering and other risk factors.

>>>
Declaration of income: We have not achieved tax egalitarianism -  Expert
 Friday, January 13 2023 16:29

ArmInfo.The past couple of years in t Armenia's economic policy were marked by the adoption of a number of important, one might say, key legislative acts aimed at  increasing investment attractiveness and stimulating economic  activity in the country.

>>>
Structural reforms more urgent amid significant uncertainty – IMF
 Tuesday, December 20 2022 12:55

ArmInfo.The Executive Board of the International Monetary Fund (IMF) approved SDR 128.8 million (about US$171.1 million) 36-Month Stand-By Arrangement (SBA) for Armenia to help maintain macroeconomic stability, provide insurance against downside risks, and support structural reform agenda. On this occasion, Mr Mehdi Raissi, IMF Resident Representative in Armenia, kindly agreed to answer a number of questions in an interview with ArmInfo.

>>>
Structural reforms more urgent amid significant uncertainty – IMF
 Tuesday, December 20 2022 11:13

ArmInfo. The Executive Board of the International Monetary Fund (IMF) approved SDR 128.8 million (about US$171.1 million) 36-Month Stand-By Arrangement (SBA) for Armenia to help maintain macroeconomic stability, provide insurance against downside risks, and support structural reform agenda. On this occasion, Mr Mehdi Raissi, IMF Resident Representative in Armenia, kindly agreed to answer a number of questions in an interview with ArmInfo.

>>>

News
Advantages of franchising discussed in Armenia with Acba Bank`s  participation Advantages of franchising discussed in Armenia with Acba Bank`s  participation 
Czech Republic to assist modernization of Yerevan metro Czech Republic to assist modernization of Yerevan metro 
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 
Read more
Exchange rates
12.07.2024
RUB4.41-0.01
USD388.00-0.45
EUR422.531.06
GBP502.892.72
CAD284.960.05
JPY24.380.33
CNY53.500.04
CHF433.080.60