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%.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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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Monday, February 5 2024, 14:59
ArmInfo.The Eurasian Development Bank (EDB) forecasts 5.7% GDP growth in Armenia in 2024.
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Wednesday, January 31 2024, 20:19
ArmInfo.Armenia's gross international reserves (GIR) decreased by 12.3% or $504.1 million in 2023 to $3.608 billion, while in 2022 it increased by 27.3% or $881.8 million to $4.112 billion dollars. GIR's quarterly dynamics also worsened - up to a 13.4% decline in Q4 from 6.6% growth in Q3, according to the data from the Central Bank of the Republic of Armenia.
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Wednesday, January 31 2024, 15:35
ArmInfo.The management of the Fly Arna airline was not the responsibility of the Armenian National
Interests Fund (ANIF) but of the operator, in this case Air Arabia. Minister of Finance of the Republic of Armenia Vahe Hovhannisyan stated on January 31 at the final press conference, commenting on the developments around the national carrier, as well as the efficiency and expediency of the public funds spent by ANIF.
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Wednesday, January 10 2024, 21:20
ArmInfo.The World Bank has improved its 2023 GDP growth forecast for Armenia from the previous 4.4% to an updated 7.1% (against the actual 12.6% growth in 2022), now expecting a slowdown to 4.7% in 2024 and to 4.5% in 2025 (versus previously forecasted y-o-y acceleration to 4.8% and 5%). This is noted in the January Global Economic Prospects report published by the World Bank.
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Monday, January 8 2024, 20:34
ArmInfo. Re-export did not have a significant impact on the growth rate of the Armenian economy. Deputy Minister of Economy of Armenia Rafael Gevorgyan stated during a press conference on January 8, referring to the results of the study of the growth structure of the RA economy.
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Wednesday, January 3 2024, 13:59
ArmInfo. Armenia's gross international reserves go on decreasing as against the historical record last August, $4.219bln.
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Friday, December 22 2023, 13:07
ArmInfo. The agricultural budget of Armenia in 2023 amounted to 37 billion drams, but expenses reached 47 billion drams. Minister of Economy of Armenia Vahan Kerobyan stated, presenting the results of the 2023 economic year to the Prime Minister of Armenia Nikol Pashinyan.
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Tuesday, December 19 2023, 17:56
ArmInfo. By the end of 2023, the poverty level will decrease significantly in Armenia. Minister of Economy Vahan Kerobyan expressed a similar opinion in an interview with the Public Television of Armenia.
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Wednesday, December 13 2023, 18:45
ArmInfo. The International Monetary Fund (IMF) forecasts per capita GDP growth in Armenia in 2023 to $8,029 (from actual $6,569 in 2022), with further y-o-y increases to $8,352 in 2024 and $8,967 in 2025. IMF reports, also providing an improved forecast for Armenia's GDP growth for 2023 from the previous 5.5% to an updated 7%, with a slowdown to 5% in 2024 and to 4.5% in 2025.
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Wednesday, December 13 2023, 18:39
ArmInfo. The International Monetary Fund (IMF) has opened Armenia's access to a loan of approximately $24.4 million (SDR 18.4 million) under the Stand-by Agreement (SBA), bringing the total access amount to approximately $73.3 million (SDR 55.2 million). also providing an improved forecast for Armenia's GDP growth for 2023 from the previous 5.5% to an updated 7%, with a slowdown in 2024 to 5% (as previously expected). In terms of inflation, the IMF points to its rapid decline in Armenia, and predicts a return to the target threshold of 4% by mid-2024 and stabilization near this level.
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Tuesday, December 12 2023, 18:36
ArmInfo.The Central Bank of Armenia has once again improved its GDP growth forecast for 2023 - from the previous 7.2% to an updated 8.3%. At the same time, thechief bank revised its GDP expectations for 2024 - towards higher growth of 6.1% (against the previously forecasted 5.6%). Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated on December 12 during a press conference regarding the next reduction in the refinancing rate from 9.5% to 9.25%.
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