ArmInfo.On Aug. 25, 2023, S&P Global Ratings raised its long-term foreign and local currency  sovereign credit ratings on Armenia to 'BB-' from 'B+' and affirmed its short-term foreign and local currency sovereign credit ratings at 'B'. The outlook is stable.  

ArmInfo.Per capita gross domestic product (GDP) is expected to exceed $8,000 this year - twice  as much as last year, Armenia's Minister of Economy Vahan Kerobyan told a briefing following the Cabinet meeting on August 24. 

ArmInfo.. Since 1993, Armenia's GNI (gross national income) per capita based on purchasing power  parity (PPP) has for the second time exceeded Azerbaijan's indicator,  by all $1,590. Haykaz Fanyan, head of the ACSES (Armenian Center for  Socio-Economic Studies), informs on his Facebook page, referring to  the data of the World Bank, noting that this indicator is more  informative than GDP for assessing the well-being of the population.

ArmInfo.Armenia has every opportunity to reach 9% economic growth by the end of the year, but I  will not rule out that if the situation is favorable for the country,  growth may reach 11-12%. A similar forecast was voiced by Tatul  Manaseryan, Doctor of Economics, professor, head of the "Alternative"  Research Center, a member of the Eurasian Expert Club.

ArmInfo. Armenia's GDP growth in H1 2023 slowed down to 16.1% per annum (from 18.3% in the same period  in 2022), exceeding 3.9 trillion drams or $10.1 billion, according to the data of the RA Statistical Committee.

ArmInfo.The Armenian dram has shown a steady appreciation against the currencies of the trading partner countries since the beginning of Q2 2022. In July of this year, compared to the  beginning of 2022, the Armenian dram appreciated against a basket of  currencies: - by 19.8% y/y against the dollar, by 21.7% y/y against  the euro, by 32.4% y/y against the Russian ruble. In terms of the  real effective exchange rate, the Armenian dram appreciated by 33.6%  in 2022 and by 40% in June 2023 compared to the beginning of 2022. 

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ArmInfo.The share of SMEs in Armenia's GDP reached 60%.  This was stated by Minister of Economy of Armenia Vahan Kerobyan, answering a question from an ArmInfo  correspondent, on the sidelines of a press conference held within the  framework of the organization of the "Days of Science and Business"  in Armenia.

ArmInfo. The upgrade of Armenia's long-term issuer default rating in foreign currency from  <B+> to <BB-> by Fitch Ratings indicates an increase in Armenia's  investment attractiveness. RA Deputy Finance Minister Eduard Hakobyan  expressed a similar opinion in an interview with the Public  Television of Armenia.

ArmInfo.Fitch Ratings has upgraded Armenia's Long-Term Foreign-Currency Issuer Default Rating  (IDR) to 'BB-' from 'B+'. The Outlook is Stable. This is stated in the message of the agency.

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ArmInfo. The United States Agency for International Development (USAID) has prepared an analysis  of alternative export markets for Armenian exporters. Head of the Armenian Economic Department Vahan Kerobyan attended the corresponding event, organized by USAID in cooperation with the  Ministry of Economy.

ArmInfo. Azerbaijan launched a hybrid war against Armenia. Chairman of the Union of  Miners and Metallurgists of the Republic of Armenia, First Deputy General Director of Zangezur Copper-Molybdenum Combine CJSC Vardan Jhanyan stated  on July 24 at a press conference.

ArmInfo.In Europe and in the developed countries of the world, one out of 40 small businesses  becomes large, while in Armenia, out of 500 small companies, only onegrows. Minister of Economy of Armenia Vahan Kerobyan announced  to  journalists on July 20.

ArmInfo. Armenia is a country of four unicorns (private companies estimated at $1bln, Armenia's Minister of Economy Vahan Kerobyan stated at a panel discussion on the sidelines of the INNOPROM-2023 trade fair in Yekaterinburg, Russia.

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ArmInfo. Armenian enterprises -  participants of the INNOPROM- 2023 industrial exhibition-forum held a  number of business meetings, as a result of which preliminary  agreements on further cooperation were reached. This was reported by  the press service of the Ministry of Economy of Armenia.

ArmInfo. Armenia significantly increased the volume of foreign trade with many EU countries - with, Germany, France, Austria, Greece, Denmark, Finland, Poland, Slovakia (2- 3.7-fold), rapidly increasing foreign trade turnover in the direction of the USA, UAE, Japan, Great Britain and Canada (2.2-5.8-fold). This is evidenced by the data of the RA Statistical Committee for January-May 2023.