ArmInfo. The Minister of Economy of Armenia stated at a meeting of the parliamentary  commission on September 2 that issues with the supply of Armenian products to the Russian Federation are addressed in the working order.  

ArmInfo. In 2024, Armenia's economic growth may exceed 8.5%, depending on the trends observed  during the second half of this year. Doctor of Economics, professor, and head of the Research Center "Alternative," Tatul Manaseryan, who is also a member of the Eurasian Expert Club, made this statement  during a press conference on August 28, while presenting the Club's assessment.

ArmInfo. On Aug. 23, 2024, 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.

ArmInfo. Armenia's GDP in the  first half of 2024 exceeded 4.2 trillion drams or $10.6 billion,  showing a more noticeable slow down in annual growth at 7.3%. In  comparison, during the same period in 2023, there was a slight  decrease in double-digit growth from 18% to 16%. This is evidenced by  the data from the RA Statistical Committee, published on August 20  alongside the presentation of GDP at market prices. The GDP  experienced a negative trend in the first quarter, declining by  36.1%. 

ArmInfo. In March 2025, the  second customs administration program, implemented with the support  of the World Bank, will be completed in Armenia.

ArmInfo. Russia retains its leading position in Armenia's foreign trade, now supported by imports, whereas a year ago the main driver was exports.

ArmInfo. The International Bank for Reconstruction and Development, a member of the World Bank Group, will provide Armenia with a loan of 92.3 million euros, with another $16 million in grant money provided by the Global Concessional Financing Facility (GCFF).  The draft law "On ratification of the agreement between the Government of the Republic of Armenia and the IBRD" was approved at a Cabinet meeting on August 8.

ArmInfo. The international Fitch  Ratings agency affirmed Armenia's long-term foreign currency issuer  Default Rating (IDR) in foreign currency at "BB" with a stable  outlook.  This is stated in a report on the agency's website.   Continued High Growth: Economic growth continues to benefit from  spill-overs from strong inward migration from Russia, Belarus,  Ukraine and now Nagorno-Karabakh. Real GDP grew 8.7% in 2023 and  remained strong at 9.2% yoy in 1Q24. The tourism and information and  communication technology sectors are expected to be important drivers  of growth, while commencement of the Amulsar gold mine's operations  from 2025 will be positive for exports and growth. Fitch expects  growth to reach 6% in 2024, 5.5% in 2025 and 5.1% in 2026.

ArmInfo. The International Bank for Reconstruction and Development, part of the World Bank Group,  will provide Armenia with a loan of 102 million euros to support the program "Achieving Universal Health Coverage". At a meeting on July 18, the RA Government approved a draft agreement with the Bank for  signing.

ArmInfo. The WB will provide Armenia with a grant for the implementation of environmental  programs. At a meeting on July 4, the RA Government approved the draft corresponding decree of the RA President.

ArmInfo.The World Bank's Board of Executive Directors approved a loan in the amount of $110 million  equivalent (EUR 102 million) to support the Enabling Universal Health Coverage Program for Armenia, the Banks press service reports.  According to the source,  the operation aims to improve the quality of primary health care, ensure accessible health care services across the country and increase the efficiency of the government's spending on healthcare.

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ArmInfo. The World Bank has maintained its previously improved forecast for Armenia's GDP growth  at 5.5% in 2024 and 4.9% in 2025. This is noted in the World Bank's June Global Economic Prospects report.

ArmInfo. The international food exhibition Sial-2024, which is one of the world's largest export  platforms, will take place in Paris. Armenian companies will present their production at the exhibition under a single pavilion.

ArmInfo.Armenian food and non-alcoholic beverage producers will take part in the international  exhibition Foodex Saudi-2024.

ArmInfo. In the context of achieving Armenia's goals for inclusive economic growth, the World Bank considers it necessary to attract public and private investment, develop a green economy and continuously promote digital transformation. Mr Asad Alam, Regional Director of the World Bank for Europe and Central Asia, stated during a meeting with Deputy Prime Minister of the Republic of Armenia Mher Grigoryan.

ArmInfo. Prime Minister Nikol Pashinyan received Axel van Trotsenburg, World Bank Senior Managing  Director of Development Policy and Partnerships, and  Alfonso Garcia  Mora International Finance Corporation (IFC) Regional Vice President.

ArmInfo. Armenia faces a number of challenges that relate to the threat of conflicts, climate change,  private sector development, logistics and public administration. This is stated in the World Bank Beyond Boundaries - Unlocking Potential for a Sustainable Tomorrow report which was presented by World Bank  Senior Specialist Lea Hakim.

ArmInfo.

ArmInfo. Lea Hakim, Senior Economist in the World Bank's Global Macro and Debt Analytics team  and Program Manager of the Debt Management Facility, posted the following message on her LinkedIn account: