ArmInfo. GDP growth in Armenia in 2024 is expected to be significantly lower than in 2023. This is the conclusion reached by experts from the Luys Foundation after analyzing the socio-economic development of the Armenian economy from January to December of last year.

ArmInfo. The Republican Union of Employers of Armenia (RUEA) is concerned about the illegal actions taken by a group of employees of Zangezur Copper and Molybdenum Combine CJSC (ZCMC), which have resulted in the disruption of  normal operations at the largest company in the country and the number one taxpayer.

ArmInfo.

ArmInfo. Armenia's public debt in dollar terms increased by approximately $997 million by the end of December 2024, reaching $12. 842.2 billion (up from $11. 845.4 billion by the end of 2023). In dram equivalent, the debt rose from 4 trillion 794.9 billion to 5 trillion 092.7 billion. In particular,  according to data from the Ministry of Finance of the Republic, over  the 12 months of 2024, the government debt in US dollars increased  from $11 billion 294.6 million (at an exchange rate of AMD 404.79per  $/1) to $12 billion 338.2 billion (at AMD387.05 per $/1). In dram  equivalent, the debt increased from 4 trillion 571.9 billion to 4  trillion 892.8 billion drams. The estimated exchange rate of the US  dollar was AMD 396.56 per $/1 (compared to AMD 404.79 at the end of  2023).

ArmInfo. The Central Bank of Armenia continues to reduce the refinancing rate, this time also by 0.25 percentage points - from 7% to 6.75%. In total, from mid-2023 to this day, the key rate has been reduced by 4 percentage points, from a historically high of 10.75% in December 2022. The decision to  further reduce the refinancing rate was made on February 4 at a  meeting of the Central Bank of Armenia Council.

ArmInfo. The members of the Bar Club once again expressed dissatisfaction with the discriminatory tax policy of the Armenian authorities and announced their intention to hold a protest on February 10. This is stated in a statement received by ArmInfo from the Chamber of Advocates.

ArmInfo. In 2025, we will see a peculiar mix of uncertainty and decent growth in the financial markets. This forecast was made by Frederic Pascal, Co-Head of Delegated Investment Solutions at Amundi, while presenting Amundi's  asset allocation vision for 2025 at the Amundi Investment Outlook  conference. "We like risk, but we plan to add some diversity to our  portfolio," he said.

ArmInfo. The Minister of Territorial Administration and Infrastructure of Armenia, David Khudatyan, received the Ambassador of the Czech Republic to Armenia, Petr Pirunchik.

ArmInfo. Following the neutralization of the  factor, the Armenian card market returned to its usual  growth path, experiencing a slowdown in economic growth. However, the market segment saw a significant quantitative and qualitative rise in 2022-2023, providing a high level of dynamism to key indicators. This  is stated in the next jubilee 30th analytical bulletin , prepared by the financial analysis department of ArmInfo Information Company over the past 15 years.

ArmInfo.IDBank now welcomes customers at its newly opened branch in Armavir.

ArmInfo. On January 30, Yerevan hosted the global initiative <Amundi Investment Outlook 2025>, which  is being held in more than 20 countries. The event is a unique opportunity to discuss key financial events that will shape the current year with renowned international experts, as well as to hear their views on investment opportunities, economic trends and asset allocation strategies. 

ArmInfo. Starting February 1, international payments with your IDBank Mastercard will become even more rewarding. Earn 5% idcoins on all international transactions when paying with IDBank Mastercard.

ArmInfo.During a working visit to the United States, RA Minister of Finance Vahe Hovhannisyan had a meeting  with American economist, Nobel Prize winner in economics, professor at Columbia University, and former chairman of the Council of Economic Advisers to the US, President Joseph Stiglitz.

ArmInfo. The European Investment Bank (EIB) has made its first ever agreement with Ameriabank, providing the bank with 105 million euros in financing-its largest direct loan to a bank in the South Caucasus region. The funds will be used to finance micro, small and medium-sized enterprises (SMEs) in Armenia and green economy  projects.

ArmInfo. In 2024, the volume of private transfers inflow to Armenia exceeded $5.8 billion (including $1.01 billion of non-commercial nature). The outflow, on the other hand, was $4.3 billion (including $440 million of non-commercial  nature). In terms of annual dynamics, the inflow increased by 2.5%,  while the outflow increased by 7.1%. As a result, the net inflow of  transfers to the country in 2024 decreased by 9% - to $1.5 billion.  Specifically, for non-commercial transfers, the decline in net inflow  was more significant, dropping  by 35% to $573.5 million. The share  of the latter in the total net inflow decreased over the year from  53% to 38%. This is evidenced by data from the Central Bank of the  Republic of Armenia.

ArmInfo.Of the 120 thousand individual declarants in Armenia, about 60 thousand people reported on the income received in 2023. Meanwhile, about 900 thousand individuals must report on the income of 2024 in 2025. This was reported by the State Revenue Committee (SRC) of the Republic of  Armenia in response to a written request from ArmInfo.

ArmInfo.  The Armenian delegation, headed by Vice President of the Union of Industrialists and Entrepreneurs of Armenia (UIEA) Nerses Karamanukyan UMBA Vice President, took part in a regional meeting initiated by the  Confederation of Danish Industry in Copenhagen.

ArmInfo. The functions of control over the expenditure of public funds will be transferred from the Ministry of Finance of the Republic of Armenia to the State Control Service under the Prime Minister of the Republic of Armenia.  At the meeting on February 3, the Committee on Financial, Credit and  Budgetary Affairs of the National Assembly of the Republic of Armenia  issued a positive conclusion on the amendments to the Law "On the  State Control Service" and a large package of related documents  submitted by the Government of the Republic of Armenia.

ArmInfo. In connection with the situation that has developed at the Zangezur Copper and Molybdenum Combine, the company has issued some clarifications. Let us recall that ArmInfo previously reported that a group of workers had declared a strike demanding a wage increase.  ZCMC CJSC  considered these demands unrealistic, and the actions of the strikers  were considered to be outside the scope of the Labor Code.

ArmInfo.The general director of the foil rolling plant "Armenal" has changed. As ArmInfo learned, Tigran Arustamyan, who previously worked as the production director, replaced Maxim Karamanov, who worked as the head of the enterprise for only six months.