S&P Global Ratings: Private sector debt burden in Armenia will continue to grow

 Tuesday, March 25 2025 17:24:00
S&P Global Ratings: Private sector debt burden in Armenia will  continue to grow

ArmInfo. Private sector debt  burden in Armenia will continue to grow. Rapid lending growth in 2024  and the projected strong expansion in 2025 (close to 5%) mean that  Armenia's private sector debt to GDP ratio will likely recover to  trend levels faster. The continued rapid accumulation of leverage,  especially in the household sector with its steadily low savings  rate, remains a long-term concern, according to S&P Global Ratings'  report "Central Asia and Caucasus Banking Sector Outlook".

Mirzoyan: Armenia to increase bilateral trade turnover with Iran to $3 billion
 Tuesday, March 25 2025 17:00

ArmInfo. Armenia aims to  enhance trade and economic relations with Iran and increase bilateral  trade turnover to $3 billion, as stated by Armenian Foreign Minister  Ararat Mirzoyan at a joint press conference with his Iranian  counterpart Abbas Araghchi.

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Third Russian-Armenian construction forum to take place in Yerevan
 Tuesday, March 25 2025 15:32

ArmInfo.  At the initiative of the Trade Representative of the Russian Federation in Armenia, the third Russian-Armenian Construction Forum will be held in Yerevan on  March 27, as stated by the Trade Representative of the Russian  Federation in Armenia, Anna Donchenko, during a press conference on  March 25.

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Economic growth in Armenia slowed due to a decline in the industrial  sector and foreign trade
 Tuesday, March 25 2025 14:14

ArmInfo. In Armenia, economic activity growth in January-February 2025 significantly slowed to 4.1% per annum (from 13.6% in the same period of 2024). Moreover, the  industrial sector, which was a growth driver a year earlier, is now  experiencing a double-digit decline.  According to preliminary data  from the RA Statistics Committee, this decline was accompanied by a  deterioration in the foreign trade, shifting from several-fold growth  to a significant decline.

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Armenian NA discussing amendments to Law on State Pensions 
 Tuesday, March 25 2025 13:38

ArmInfo. The National Assembly of Armenia is currently discussing the amendments to the law "On state pensions" proposed by the opposition faction "Armenia".

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Armenia, China establishing cooperation in tourism industry 
 Tuesday, March 25 2025 12:24

ArmInfo. Armenia and China are establishing cooperation in the tourism sector.

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SRC: Revision of rules for appealing fines does not apply to administrative acts issued by  RA State Revenue Committee
 Monday, March 24 2025 17:43

ArmInfo. The State Revenue Committee (SRC) of Armenia reports that it did not participate in the development of the draft law to change the procedure for appealing fines, which was initiated by the Ministry of Justice.

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Armenia`s State Revenue Committee  sees great tax potential in  construction sector in 2025
 Monday, March 24 2025 17:38

ArmInfo. The State Revenue Committee (SRC) of Armenia plans to collect more taxes from the construction sector in 2025, as stated by the head of the department,  Eduard Hakobyan, on March 24 at a meeting of the NA Standing  Committee on financial-credit and budgetary affairs.  In 2024, tax  revenues (tax income and state duty) to the consolidated budget of  the Republic of Armenia totaled 2 trillion 390.9 billion drams,  showing a  5.1% increase of 117 billion drams compared to 2023. The  tax to GDP ratio in 2024 decreased to 23.6% from 24.1% in 2023.  Hakobyan attributed the decrease in the indicator last year to  economic factors rather than tax collection. When analyzing tax  collections from the domestic economy and imports separately, it is  evident that there was  a 14% increase in the former and a decline in  the latter.

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Shirak Avia airline launches Krasnoyarsk-Yerevan-Krasnoyarsk flight 
 Monday, March 24 2025 13:26

ArmInfo. Shirak Avia airline will launch Krasnoyarsk - Yerevan - Krasnoyarsk flight from May 10. This was reported by the press service of the Tourism Committee of  Armenia.

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Armenia`s Tourism Committee, St. Petersburg Convention and Exhibition  Bureau interested in cooperation 
 Monday, March 24 2025 12:22

ArmInfo. The Tourism Committee of Armenia is considering the possibility of cooperation with the St. Petersburg Convention and Exhibition Bureau.

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Armenia, Russia  aim to boost their mutual agricultural trade volume
 Friday, March 21 2025 14:15

ArmInfo.  Armenia and Russia have expressed their commitment to increasing the volume of mutual trade in agricultural products, strengthening cooperation in  selection and genetics, and fostering collaboration between  regulatory authorities. This was announced following a meeting in  Moscow between Armenian Minister of Economy Gevorg Papoyan and  Russian Minister of Agriculture Oksana Lut.

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Upper Lars checkpoint closed for transport 
 Friday, March 21 2025 12:09

ArmInfo. The rescue service of the Ministry of Internal Affairs of Armenia reports that as of the morning of March 21, the roads in the republic are mostly passable.

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EAEU GDP growth exceeds world average - minister 
 Friday, March 21 2025 11:20

ArmInfo. Minister for Integration and Macroeconomics of the Eurasian Economic Commission (EEC) Eldar Alisherov spoke about positive changes in the economies  of the EAEU countries at the annual conference of the American  Chamber of Commerce in Russia. 

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Armenia, Russia interested in boosting mutual tourist flows
 Thursday, March 20 2025 17:43

ArmInfo. Armenia and Russia  have expressed a shared interest in boosting tourism between the two  countries. This became known following the meeting of Minister of  Economic Development of the Russian Federation Maxim Reshetnikov with  the Minister of Economy of Armenia, Gevorg Papoyan, and the head of  the RA Tourism Committee, Lusine Gevorgyan.

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Russia`s Economy Minister announces Armenia`s Strategic Development Center`s new projects
 Thursday, March 20 2025 17:41

ArmInfo. In 2024, mutual trade  between Russia and Armenia grew by 1.6 times to reach $11.7 billion.  Maxim Reshetnikov, the head of the Russian economic department,  stated this during a meeting in Moscow with the Minister of Economy  of Armenia, Gevorg Papoyan, and the head of the RA Tourism Committee,  Lusine Gevorgyan, the press service of the Ministry of Economic  Development of the Russian Federation reported.

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Armenia`s government to support domestic metallurgic companies 
 Thursday, March 20 2025 12:47

ArmInfo.On March 20, the Armenian  government approved a program to promote the domestic sale of certain types of goods of Armenian origin, for which restrictions have been imposed on their export from the Republic of Armenia. Manufacturers  of metal products from local raw materials will be able to count on a  subsidy of 10 thousand drams for each ton sold.

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Opportunities for constructing power storage stations in Armenia discussed in Berlin
 Wednesday, March 19 2025 19:15

ArmInfo. On March 18-19, RA Minister of Territorial Administration and Infrastructure David Khudatyan attended the 11th conference titled "Dialogue on Energy Transformation", which was held in Berlin

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Armenia fulfilled its obligations required for removal from  EU aviation "black list"
 Wednesday, March 19 2025 18:09

ArmInfo. Armenia has  fulfilled all of its obligations outlined in the action plan required for removal from the European Union aviation "black list". This was stated by Deputy Minister of Territorial Administration and Infrastructure of  Armenia Kristine Ghalechyan at a meeting of the NA Standing on Committee on Territorial Administration, Local Self Government, Agriculture and Environmental Protection on March 19.

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RA Government discussed  fiscal policy for 2026-2027
 Wednesday, March 19 2025 17:44

ArmInfo. On March 19, a meeting chaired by RA Prime Minister Nikol Pashinyan was held to discuss fiscal policy and budget expenditures for 2026-2027.

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ADB to support Yerevan Municipality in implementing new projects
 Wednesday, March 19 2025 16:36

ArmInfo. On March 19, Yerevan Mayor Tigran Avinyan received a delegation from the Asian Development Bank, led by ADB Director General for Central and West Asia, Yevgeny Zhukov.

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News
S&P Global Ratings: Private sector debt burden in Armenia will  continue to growS&P Global Ratings: Private sector debt burden in Armenia will continue to grow
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