Armenia to take out EUR 92.3mln from WB to cover budget deficit  
 Thursday, March 28 2024, 13:52

ArmInfo. The World Bank will provide Armenia with a loan of 92.3 million euros and a grant of 16  million euros to finance the budget deficit. The resolution was approved at a government meeting on March 28.

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. 

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.

How to Celebrate Love Days? A Piece of Advice from Idram and IDBank
 Monday, February 12 2024, 12:36

ArmInfo.A few days are left for the February love days. Regardless of which team you are in - celebrating Terendez or Valentine's Day, you still need to plan in advance where you are going to celebrate. You may already be bored of celebrating by simply eating out or having fancy drinks in classic cafes and restaurants. That's why Idram and IDBank have gathered the most unique ideas to make your 2024 love days unforgettable. Let’s go.

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. 

 Thursday, February 1 2024, 18:07

ArmInfo.

Armenia`s ministry of labor changes order of deposit compensation
 Wednesday, January 17 2024, 14:31

ArmInfo.The government will compensate the deposits of citizens born before June 30, 1941 inclusive, who were invested in the Republican Bank of the Armenian SSR of the Savings Bank of the USSR. The Ministry of Labor and Social Affairs reported this, citing a government decision.

Improving Armenia`s economic growth forecast for 2023, WB expects it  to worsen from 2024
 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.

Rafael Gevorgyan: Re-export did not have significant impact on  economic growth rates
 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.

Minister of Economy: Total agricultural expenditures totaled AMD 47 billion in 2023
 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.

Vahan Kerobyan: By end of 2023, poverty level to decrease significantly in Armenia
 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.

IMF opens Armenia`s access to US$24.4 million Stand-By loan and  improves its GDP growth forecast for 2023 to 7%
 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.

CBA improves GDP growth forecast for 2023 from 7.2% to 8.3% and from  5.6% to 6.1% for 2024
 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%.

Armenia, WB close to signing $150 million loan program for  20  tourism clusters formation - Kerobyan
 Friday, December 8 2023, 19:52

ArmInfo. The Armenian authorities intend to implement a radical reform in the tourism  sector. At the plenary session on December 8, the National Assembly of the Republic of Armenia is discussing in the first reading the draft law "On Tourism" and a package of related laws.

Black Friday: FLYONE ARMENIA airline announces 50% discount on air  tickets
 Friday, November 24 2023, 16:28

ArmInfo. In connection with the international Black Friday day, FLYONE ARMENIA airline announces a  50% discount on air tickets purchased from November 24 to 26. 

Armenia`s GDP growth rates are returning to dynamics of two years ago
 Wednesday, November 22 2023, 18:07

ArmInfo.Armenia's GDP in Jan-Sept 2023 slowed down in y-o- y growth from 21% to 12%, almost  returning to the rate of two years ago (11.1% in the same period of 2021). At current prices, the absolute value of GDP for 9 months of this year amounted to 6.5 trillion drams ($16.5 billion), against last year's 5.8 trillion drams ($14.2 billion). Of this amount, 40% or 2.6 trillion drams ($6.6 billion) were provided in Q3 2023, against 41.4% or 2.4 trillion drams in Q3 2022, according to the data of the RA Statistical Committee.

 Wednesday, November 15 2023, 12:56

ArmInfo.

CBA: services and construction to remain main drivers of economic  growth in 2024; positive trends to be observed in industry
 Tuesday, October 31 2023, 19:39

ArmInfo. In 2023, Armenian economic growth is projected at 7.2%, and next year it will be 5.6%.  Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated  on October 31 during a press conference.

On October 17, Impact Hub Yerevan hosted a pitch event and an award ceremony for the participants of this year’s Social Impact Award Armenia.
 Thursday, October 19 2023, 14:37

ArmInfo.The award ceremony was organized as part of Collaborate for Impact program, funded by the European Union in Armenia and implemented by the European Venture Philanthropy Association (EVPA) in partnership with Impact Hub Yerevan.

Impact Hub Yerevan announces the winners of SIA Award Armenia 2023
 Tuesday, October 17 2023, 19:55

ArmInfo.On October 17, Impact Hub Yerevan hosted a pitching day event as well as a humble award ceremony for the participants of this year’s Social Impact Award Armenia. The Social Impact Award, a prestigious platform supporting young social entrepreneurs, took place for another year of honoring innovative business solutions aimed at addressing pressing social challenges. Under the umbrella of the Collaborate for Impact program, funded by the European Union in Armenia and executed by the European Venture Philanthropy Association (EVPA) in partnership with Impact Hub Yerevan, this year's awards have seen a significant contribution from Ararat Bank.



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