Without additional impetus, economic growth rates in Armenia will  return to their stable values - EDB

 Tuesday, October 22 2024 13:03:00
Without additional impetus, economic growth rates in Armenia will  return to their stable values - EDB

ArmInfo.Since June of this year, re-export of precious metals has ceased to play a significant role in the economy of Armenia, and the contribution of net exports to economic growth in the first half of the year has become negative.  This is stated in the latest Macroeconomic Review of the Eurasian  Development Bank (EDB) for October, published today.

IDBank and Idram at Mantashyants Global Expo
 Monday, October 21 2024 21:07

ArmInfo.IDBank and Idram participated in the Mantashyants Global EXPO 2024, which showcased around 120 companies from over 40 different sectors. The exhibition provided a professional platform for business leaders to connect, explore each company's unique features, and discover the opportunities they offer.

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No consensus yet on issue of unblocking railway - Armenian  vice-premier
 Monday, October 21 2024 13:22

ArmInfo.There is no consensus yet on the issue of unblocking the railway. Deputy Prime Minister of the Republic of Armenia Mher Grigoryan told journalists on October 21.

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Deputy Territorial Administration and Infrastructure Minister, KfW  delegation discuss construction of Kaps reservoir 
 Friday, October 18 2024 17:23

ArmInfo. Vache Terteryan, the  Deputy Minister of Territorial Administration and Infrastructure of Armenia, discussed a number of issues regarding the Kaps reservoir construction during at a meeting with the delegation of KfW Bank. 

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Economic modernization portfoplio 84.4% up by Oct 1, 2024 
 Friday, October 18 2024 11:51

ArmInfo. As of October 1 of this year, the portfolio of the program for modernization of the economy aimed at stimulating production amounted to 319 billion drams, which is 84.4% higher than the figure for the previous year. This was reported by the press service of the Ministry of Economy.

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Gegharkunik Governor: Workers returning to Sotk mine
 Thursday, October 17 2024 20:45

ArmInfo. We have conducted several meetings with the company that operates the Sotk mine, which  has resulted in reinstatement of certain employees in their positions, as stated by Karen Sargsyan, the Governor of the Gegharkunik region, during a conversation with reporters.  He noted that at this point, new jobs have already been created. , Sargsyan said.

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Rospotrebnadzor withdraws more than 118,000 packages of dietary  supplements from Armenia from circulation
 Thursday, October 17 2024 14:54

ArmInfo. Rospotrebnadzor has withdrawn more than 118 thousand packages of dietary supplements from  Armenia from circulation.

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Armenian government approves 2024-2040 demographic strategy 
 Thursday, October 17 2024 14:52

ArmInfo.The Armenian government has approved the demographic strategy for 2024-2040. As Minister of Labor and Social Affairs Narek Mkrtchyan noted during the Cabinet meeting on October 17, the strategy will help resolve 4 key issues: improving the well- being of families, preventing premature death, stimulating active old age, and preventing migration.

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Armenia`s minister of territorial administration meets with Turkish  minister of transport and infrastructure
 Wednesday, October 16 2024 12:47

ArmInfo. On October 15, within the framework of the World Congress of the International Road  Federation (IRF - 2024), the Minister of Territorial Administration and Infrastructure of Armenia Gnel Sanosyan held a bilateral meeting with the Minister of Transport and Infrastructure of TurkeyAbdulkadir Uraloglu, the RA Ministry of Territorial Administration reports. 

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Armenia and Italy to cooperate in consumer protection: Memorandum  signed
 Tuesday, October 15 2024 22:57

ArmInfo. Gegham Gevorgyan, the Chairman of the Competition Protection 

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Armenia to implement digital system for employment contracts
 Tuesday, October 15 2024 22:51

ArmInfo. A digital system for concluding employment contracts will be implemented in Armenia. At  the meeting on October 15, the RA National Assembly Committee on Labor and Social Affairs provided a positive conclusion on the amendments to the Labor Code proposed by the RA government.  

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Greek airline SKY Express to launch direct flights Athens - Yerevan -  Athens
 Tuesday, October 15 2024 12:31

ArmInfo.Greek airline SKY express will launch direct flights Athens - Yerevan - Athens in  November, the Zvartnots International Airport reports. 

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Armenian deputy minister of economy hosts NDC Partnerhsip delegation 
 Tuesday, October 15 2024 12:19

ArmInfo. Deputy Minister of Economy of Armenia Arman Khojoyan, who oversees agriculture, received  a delegation of the NDC (Nationally determined contributions) Partnership Support Office, which is part of the Paris Agreement agenda, headed by Director General Pablo Vieira.

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Gevorg Papoyan, Minister of Agriculture and Food Security of France  discuss potential cooperation 
 Monday, October 14 2024 15:31

ArmInfo. The delegation from the Ministry of Economy of Armenia, represented by the department  head Gevorg Papoyan and his deputy Arman Khojoyan, participated in the 45th World Congress of Vine and Wine, commemorating the 100th anniversary of the International Organization of Vine and Wine (OIV). 

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Armenia`s wine heritage presented in London, Manchester 
 Monday, October 14 2024 14:42

ArmInfo.Events aimed at increasing the recognition of Armenian wines were held in the United  Kingdom of Great Britain and Northern Ireland.

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Armenian Airlines suspends flights 
 Monday, October 14 2024 12:28

ArmInfo. Armenian Airlines will temporarily suspend flights from October 14 to November 22. This  was stated in a statement by the carrier.

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Armenia`s deputy minister confirms his resignation 
 Friday, October 11 2024 11:40

ArmInfo. Deputy Minister of Territorial Administration and Infrastructure Hakob Vardanyan, who  oversees the energy sector, confirmed that he submitted his resignation letter to the RA Prime Minister.

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Armenia`s deputy minister of economy resigns
 Friday, October 11 2024 11:37

ArmInfo. Deputy Minister of Economy of Armenia Narek Teryan has written a letter of resignation  from his post. The information was confirmed by the press service of the department.

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Garegin Baghramyan resigns as head of PSRC
 Thursday, October 10 2024 22:14

ArmInfo. The Chairman of the Public Services Regulatory Commission (PSRC) of Armenia has resigned.  The application has already been sent to the parliament, as confirmed  by the press service of the Regulator to an ArmInfo correspondent.  

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Second Armenian-UAE business forum held in Abu Dhabi
 Thursday, October 10 2024 21:44

ArmInfo. The second Armenian-UAE business forum was held at the Abu Dhabi Chamber of  Commerce and Industry. As reported by the press service of the  Armenian Embassy in the UAE, ahead of the forum, a meeting was held  between Haykaz Nasibyan, the head of the Armenian delegation and  Secretary General of the RA Ministry of Economy and Humaid bin Salem,  Secretary General of the UAE Federal Chamber of Commerce.

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Wizz Air Group successfully promoted Armenia in international markets  - RA Ministry of Economy
 Thursday, October 10 2024 16:22

ArmInfo. On October 10, RA Minister of Economy Gevorg Papoyan received representatives of Wizz  Air Group, as reported by the press service of the department.   Deputy Minister Narek Hovakimyan was also present at the meeting.

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News
EBRD lending $236 million to Armenia for construction of southern  section of Sisian-Kajaran roadEBRD lending $236 million to Armenia for construction of southern  section of Sisian-Kajaran road
ESFD to provide $100mln to Armenia to cover budget deficit ESFD to provide $100mln to Armenia to cover budget deficit 
Reduction of rates in large developed economies gradually opening way  for developing countries to attract foreign capital.- EDBReduction of rates in large developed economies gradually opening way  for developing countries to attract foreign capital.- EDB
Without additional impetus, economic growth rates in Armenia will  return to their stable values - EDBWithout additional impetus, economic growth rates in Armenia will  return to their stable values - EDB
Converse Bank and Kapitalbank signed a cooperation agreement at Sibos 2024Converse Bank and Kapitalbank signed a cooperation agreement at Sibos 2024
IMF to provide $24.5mln to Armenia for covering budget deficitIMF to provide $24.5mln to Armenia for covering budget deficit
IDBank and Idram at Mantashyants Global ExpoIDBank and Idram at Mantashyants Global Expo
Ardshinbank’s Private Clients Will Be Served in a Special Office Ardshinbank’s Private Clients Will Be Served in a Special Office
RA Minister of Economy: Armenia and Belgium have many opportunities  to expand cooperation in technology and innovationRA Minister of Economy: Armenia and Belgium have many opportunities  to expand cooperation in technology and innovation
AraratBank Introduces UBPAY: A New System for International TransfersAraratBank Introduces UBPAY: A New System for International Transfers
No consensus yet on issue of unblocking railway - Armenian  vice-premierNo consensus yet on issue of unblocking railway - Armenian  vice-premier
IDBank participated in the HR Expo-24 conferenceIDBank participated in the HR Expo-24 conference
Ameriabank presented its innovative digital platform MyBusiness at  the Real Business forumAmeriabank presented its innovative digital platform MyBusiness at  the Real Business forum
Deputy Territorial Administration and Infrastructure Minister, KfW  delegation discuss construction of Kaps reservoir Deputy Territorial Administration and Infrastructure Minister, KfW  delegation discuss construction of Kaps reservoir 
Armenia Central Bank increases countercyclical capital buffer from  1.5% to 1.75%Armenia Central Bank increases countercyclical capital buffer from  1.5% to 1.75%
Economic modernization portfoplio 84.4% up by Oct 1, 2024 Economic modernization portfoplio 84.4% up by Oct 1, 2024 
Armenian authorities to tighten control over crypto assets for better  traceability of financial flowsArmenian authorities to tighten control over crypto assets for better  traceability of financial flows
Gegharkunik Governor: Workers returning to Sotk mineGegharkunik Governor: Workers returning to Sotk mine
Rospotrebnadzor withdraws more than 118,000 packages of dietary  supplements from Armenia from circulationRospotrebnadzor withdraws more than 118,000 packages of dietary  supplements from Armenia from circulation
Armenian government approves 2024-2040 demographic strategy Armenian government approves 2024-2040 demographic strategy 
Rosatom ready to offer Armenia power units of various capacities Rosatom ready to offer Armenia power units of various capacities 
Demand for international freightage up in Armenia - ATI.SUDemand for international freightage up in Armenia - ATI.SU
Ardshinbank will grow the forestArdshinbank will grow the forest
Armenia`s minister of territorial administration meets with Turkish  minister of transport and infrastructureArmenia`s minister of territorial administration meets with Turkish  minister of transport and infrastructure
Armenia and Italy to cooperate in consumer protection: Memorandum  signedArmenia and Italy to cooperate in consumer protection: Memorandum  signed
Armenia to implement digital system for employment contractsArmenia to implement digital system for employment contracts
The customer is always our top priority: IDBankThe customer is always our top priority: IDBank
RA NA Speaker: We aim to triple solar energy production by 2030,  ensuring at least 15% of Armenia`s energy balance from renewable  sourcesRA NA Speaker: We aim to triple solar energy production by 2030,  ensuring at least 15% of Armenia`s energy balance from renewable  sources
Greek airline SKY Express to launch direct flights Athens - Yerevan -  AthensGreek airline SKY Express to launch direct flights Athens - Yerevan -  Athens
Armenian deputy minister of economy hosts NDC Partnerhsip delegation Armenian deputy minister of economy hosts NDC Partnerhsip delegation 
Gevorg Papoyan, Minister of Agriculture and Food Security of France  discuss potential cooperation Gevorg Papoyan, Minister of Agriculture and Food Security of France  discuss potential cooperation 
Armenia`s wine heritage presented in London, Manchester Armenia`s wine heritage presented in London, Manchester 
Armenian Airlines suspends flights Armenian Airlines suspends flights 
The October beneficiary of The October beneficiary of "The Power of a Dram" is the Children of Armenia Fund
Head of Synopsys Armenia: IT sector accounts for 5.5% of Armenia`s  GDP, an indicator comparable to developed countries Head of Synopsys Armenia: IT sector accounts for 5.5% of Armenia`s  GDP, an indicator comparable to developed countries 
Armenian CB to establish control over nonpublic funds Armenian CB to establish control over nonpublic funds 
Armenia to take out loans to cover budget deficitArmenia to take out loans to cover budget deficit
Armenia`s deputy minister confirms his resignation Armenia`s deputy minister confirms his resignation 
Armenia`s deputy minister of economy resignsArmenia`s deputy minister of economy resigns
Top official in charge of energy sector dismissed Top official in charge of energy sector dismissed 
Garegin Baghramyan resigns as head of PSRCGaregin Baghramyan resigns as head of PSRC
Second Armenian-UAE business forum held in Abu DhabiSecond Armenian-UAE business forum held in Abu Dhabi
Wizz Air Group successfully promoted Armenia in international markets  - RA Ministry of EconomyWizz Air Group successfully promoted Armenia in international markets  - RA Ministry of Economy
AraratBank and Matenadaran: An Innovative Collaboration Across Science and CultureAraratBank and Matenadaran: An Innovative Collaboration Across Science and Culture
Armenian government approves import of 600 electric cars Armenian government approves import of 600 electric cars 
Armenian customs operation needs improving - official Armenian customs operation needs improving - official 
Taxi companies` turnover billions of drams - official Taxi companies` turnover billions of drams - official 
Simplified car registration procedure for forcibly displaced  Nagorno-Karabakh ArmeniansSimplified car registration procedure for forcibly displaced  Nagorno-Karabakh Armenians
Armenia`s vice-premier proposes recylcing fee for eletric cars Armenia`s vice-premier proposes recylcing fee for eletric cars 
AraratBank Allocates Over 6 Million Armenian drams to Innovative Ideas Over Two YearsAraratBank Allocates Over 6 Million Armenian drams to Innovative Ideas Over Two Years
"Synopsys" company among leaders of Armenia`s technology sector -  premier 
South Caucasus Railways reports 2.8% y/y increase in number of  passengers South Caucasus Railways reports 2.8% y/y increase in number of  passengers 
Balance of Attached Cards in the Idram&IDBank AppBalance of Attached Cards in the Idram&IDBank App
Funding for education, science, culture, and sport programs in  Armenia expected to rise by 5% in 2025Funding for education, science, culture, and sport programs in  Armenia expected to rise by 5% in 2025
Total healthcare expenditure in Armenia`s GDP to decrease in 2025Total healthcare expenditure in Armenia`s GDP to decrease in 2025
Converse Bank- Nelly Kocharyan: The exit of major foreign banks from  Armenia poses a new challenge for the country`s banking sector, as it  grapples with the issue of de-riskingConverse Bank- Nelly Kocharyan: The exit of major foreign banks from  Armenia poses a new challenge for the country`s banking sector, as it  grapples with the issue of de-risking
Ameriabank’s New Offer: Draw of Investment Portfolios for AMD 2MAmeriabank’s New Offer: Draw of Investment Portfolios for AMD 2M
Armenia`s Ministry of Finance on tax arrears and <optimization> of  budget expendituresArmenia`s Ministry of Finance on tax arrears and of  budget expenditures
Net investment flow into Armenian economy shifted from positive  $146.5 million to negative $91.3 millionNet investment flow into Armenian economy shifted from positive  $146.5 million to negative $91.3 million
Armenia Minister of Economy, Ambassador of Germany discuss  opportunities for enhancing bilateral cooperationArmenia Minister of Economy, Ambassador of Germany discuss  opportunities for enhancing bilateral cooperation
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Exchange rates
22.10.2024
RUB4.01-0.02
USD387.210.05
EUR419.23-0.76
GBP502.33-1.87
CAD279.94-0.14
JPY25.67-0.15
CNY54.38-0.05
CHF447.28-0.72


Experts
Fixing over-ambitious and unrealistic goals most dangerous - expert Fixing over-ambitious and unrealistic goals most dangerous - expert 
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External factors only hope or Armenia`s shoestring budgetExternal factors only hope or Armenia`s shoestring budget
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Commented
Armenian government approves 2024-2040 demographic strategy Armenian government approves 2024-2040 demographic strategy 
Armenia`s economy and state competing for sooner collapse -  ex-official Armenia`s economy and state competing for sooner collapse -  ex-official 
Armenian broker Invia Investments to provide access to trading on ITSArmenian broker Invia Investments to provide access to trading on ITS

Company bonds
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