EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
 Wednesday, May 15 2024, 17:13

ArmInfo.The European Bank for Reconstruction and Development (EBRD) has improved its GDP growth forecast for Armenia for 2024 from the previous 4.5% to an updated 6.2% (versus actual 8.7% growth in 2023), expecting a slowdown to 4.8% in 2025, according to the Bank's latest Regional Economic Prospects. "Taming inflation"  report, published today.

Thanos Arvanitis: The time has come for Armenia to accelerate reforms
 Monday, May 13 2024, 20:18

ArmInfo.Recently, an International Monetary Fund delegation led by IMF Deputy Director for the Middle East  and Central Asia Department Mr. Thanos Arvanitis visited Armenia and held a number of important meetings with government officials. In addition, a special event was organized in Yerevan, during which the IMF presented the "Regional Economic Development Prospects" report. On the sidelines of this meeting, an ArmInfo correspondent spoke with Mr. Arvanitis about the priorities and possible risks of the Armenian economy.

Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
 Friday, May 10 2024, 20:30

ArmInfo.Trade in the Caucasus and Central Asia region could triple and distances could be cut by  half or even a third if certain changes are made, which requires political will. Mr. Alkis  Drakinos , Director, Regional Head of the Caucasus for the European Bank for Reconstruction and Development  (EBRD), stated on May 10, during an event held in Yerevan within the framework of  the IMF "Perspectives of Regional Economic Development" report.

CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
 Friday, May 10 2024, 20:29

ArmInfo.The overheating of prices in the Armenian real estate market may have ranged from  20-30%. This was stated by Governor of the Central Bank of Armenia Martin Galstyan on May 10, during an event held in Yerevan over the "Perspectives of Regional Economic Development" IMF report, referring  in this regard to the Central Bank's Report on Financial Stability.

Armenia`s Deputy Premier receives IMF delegation
 Thursday, May 9 2024, 18:09

ArmInfo. Deputy Prime Minister of  Armenia Mher Grigoryan received Mr Thanos Arvanitis, the  International Monetary Fund (IMF) Deputy Director of the Middle East  and Central Asia Department. Mr Umang Rawat, the  IMF Resident  Representative for Armenia was also present at the meeting.

 Tuesday, May 7 2024, 17:38

ArmInfo.

Armenia`s gross international reserves $3.3bln by end of 1st quarter  2024
 Friday, May 3 2024, 11:43

ArmInfo.Armenia's gross international reserves (GIR), after reaching a record $4.220 billion in August 2023, then began to decline monthly, amounting to $3.304 billion by April 1, 2024. On an annual basis, this figure decreased by 11.3% (or by $420.4 million), in while in 2023, annual growth of 26.7% (or $784 million) was recorded, according to the data by the Central Bank of the Republic of Armenia.

Delegation of Armenia`s Ministry of Finance hold important meetings  in Washington 
 Monday, April 22 2024, 14:38

ArmInfo. As part of their working visit to Washington to participate in the Spring Meetings of  the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG), a delegation of Armenia's Ministry of Finance led by Minister Vahe Hovhannisyan held a number of meetings  with international partners. 

IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%
 Wednesday, April 17 2024, 22:08

ArmInfo.The International Monetary Fund (IMF) has improved its forecast for Armenia's GDP for  2024 from the previous 5% to an updated 6% (versus actual 8.7% growth in 2023), with a slowdown to 5.2% in 2025. This is noted in the IMF World Economic Outlook, April 2024; Steady but Slow: Resilience amid  Divergenc."

 Friday, April 12 2024, 19:00

ArmInfo.

WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% 
 Friday, April 12 2024, 14:26

ArmInfo.The World Bank has improved its forecast for Armenia's GDP growth for 2024 from the  previous 4.7% to an updated 5.5% (against the actual slowdown in growth in 2023 to 8.7% from 12.6% in 2022). For 2025, the economic growth forecast has also been improved, but less noticeably - from the previous 4.5% to an updated 4.9%. Over the medium term, GDP growth will gradually approach the potential 4.5%, and average  inflation will rise to the targeted 4%.

 Friday, March 29 2024, 17:53

ArmInfo.

Armenia`s gross international reserves even farther from historical  maximum
 Thursday, March 28 2024, 13:57

ArmInfo. Armenia's gross international reserves (GIR) in February 2024 decreased by 4.6% per  annum or by $164 million, amounting to $3.381 billion, while a year ago there was an increase of 17.7% or by $532.1 million - to $3.545 billion. Dynamics for January-February and only for February, like a  year earlier, also downward, as a result of which the GMR moved more noticeably away from the historical maximum $4.220 billion achieved in August 2023. This is evidenced by data from the Central Bank of  the Republic of Armenia.

2023 lending growth insufficient to prevent decline in profits -  Financial Rating of Banks of Armenia
 Wednesday, March 20 2024, 13:57

ArmInfo. In the banking sector of Armenia, the volume of lending accelerated in growth in 2023 from 13%  to 21%, reaching 5.8 trillion drams ($14.2 billion). But this was not enough to save profits from the decline, which, after a 3-fold jump in 2022, decreased by 9.2% in 2023, amounting to 229.9 billion drams ($567.9 million). This is evidenced by the data of the Financial Rating of Banks of Armenia as of December 31, 2023, prepared by  ArmInfo. 

CBA forecasts 5.5% or 6.4% GDP growth for 2024 depending on inflation  rate  
 Friday, March 15 2024, 20:40

ArmInfo.The Central Bank of Armenia (CBA) forecasts GDP growth of 5.3% or 6.4% for 2024 - up to  10.4-10.5 trillion drams (against 8.7% growth - up to 9.5 trillion drams in 2023), depending on the formation in the economy or high or low inflation environment. In 2025, according to the Central Bank's forecast, GDP growth will accelerate slightly to 5.7-6.7%, reaching a value of 11.4-11.7 trillion drams.

Samvel Khanvelyan: Armenia`s domestic debt market is "limping" in  terms of investment base and structure 
 Tuesday, March 5 2024, 15:07

ArmInfo. In the last 4 years, the volume of dram debt in the general context of the state debt has  increased from 20% to 46%. Head of Public Debt Management Department of the Ministry of Finance of Armenia Samvel Khanvelyan stated during a plenary session on the topic "Investment Climate in Armenia and  Prospects for the Development of the Capital Markets" within the framework of the first Investment and Financial Forum.

S&P affirms Armenia`s sovereign rating at `BB`; Outlook Stable,  projectting GDP growth of 6.2% in 2024
 Monday, February 26 2024, 15:37

ArmInfo. S&P Global Ratings affirmed its 'BB-/B' long- and short-term foreign- and local-currency sovereign credit ratings on Armenia. The outlook on the long-term ratings is stable.

Tatul Manaseryan: In case of utilization of competitive advantages,  Armenia`s business activity growth could be within 7-8% by end of  2024
 Wednesday, February 21 2024, 15:15

ArmInfo. The main driver of economic growth in Armenia in 2024 may be the utilization of the  country's competitive advantages in the context of using the opportunities of the free economic zone between Iran and the EAEU. A similar opinion was expressed by Tatul Manaseryan, Doctor in Economics, Professor, Head of the Alternative Research Center, member of the Eurasian Expert Club during a press conference on February 20.

Armenia`s GDP growth slowed to 8.7% in 2023
 Wednesday, February 21 2024, 10:20

ArmInfo. Armenia's GDP growth slowed down to 8.7% in 2023 (from 12.6% in 2022), amounting to 9.503  trillion drams ($24.2 billion). The GDP deflator index also decreased - to 102.8% from 108% in 2022, according to the data of the RA Statistical Committee published on February 20.

Impact of re-exports on GDP growth within 1% in 2023
 Thursday, February 8 2024, 16:41

ArmInfo.The impact of re-exports on GDP growth in 2022 was about 1%, and in 2023 - even  lower, which was associated with changes in the sanctions environment, a new reality replacing traditional directions, Deputy Minister of Economy Rafael Gevorgyan TOLD Armenia's Public TV. 



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