ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo. On January 14, the signing of the Strategic Partnership Charter between the Republic of Armenia and the United States of America took place in the U.S. Department of State in Washington. 

ArmInfo.

ArmInfo. The net flow of total foreign investments in the real sector of the Armenian economy decreased in January-September 2024 to a negative $119.5 million (46.3 billion AMD) from a positive $353.7 million (139.2 billion  AMD), a 2.3 times year-on-year. This is evidenced by data from the RA  Statistics Committee, which defines net flow as the difference  between attracted and repaid foreign investments. Despite this  overall decrease, the net flow of foreign direct investment (FDI)  remained positive, although it did decrease by 9 times year-on-year -  from $436 million (171.5 billion AMD) to $48.5 million (18.8 billion  AMD).

ArmInfo. Armenia has a busy agenda with Iran, and it is necessary to continue cooperation in all areas. This was stated by the Minister of Territorial Administration and Infrastructure of the Republic of Armenia David Khudatyan during a meeting with the delegation of the Iranian parliament, headed by the head of the IRI-RA friendship group Ara Shahverdyan.

ArmInfo. In 2023, the real incomes of Armenian families have experienced growth. Aghasi Tavadyan, an expert at the Amberd Research Center and founder of the tvyal.com analytical portal, wrote on his Facebook page.   Particularly, in 2023, the average family income increased by 15.3%  (331,000 drams). After a decline in the previous year,  high  inflation (8.3%) significantly reduced real incomes. However, in  2023, there was price stability (official inflation was -0.6%) and  growth from 2022. This eventually led to an increase in the standard  of living.  The adjusted income of the average family increased by  15.3%, from 287,000 AMD to 331,000 AMD. At the same time, the income  of the poorest category of the republic's residents (high threshold)  increased by 23.2%, from 95,000 AMD to 117,000 AMD. Additionally, the  income of the richest 10% (lower threshold) increased by 14.5%,  from  670,000 AMD to 767,000 AMD.

ArmInfo. Ameriabank has signed a $200 million long-term loan agreement with the International Finance Corporation (IFC) to support climate finance initiatives, micro, small, and medium enterprises (MSMEs), and women-owned MSMEs in Armenia. The agreement, the largest ever signed between IFC and a financial institution in Armenia, represents a significant milestone in advancing Armenia’s green transition, enhancing climate resilience, and aligning with both national and global climate goals. Half of the funding will be allocated to climate finance projects, a quarter to MSMEs, and another quarter to women-led MSMEs.

ArmInfo.ARMSWISSBANK CJSC proudly announces its membership in the United Nations Environment Programme Finance Initiative (UNEP FI) and its commitment as a signatory to the UN Principles for Responsible Banking (PRB). This milestone reaffirms the Bank’s dedication to driving sustainable development and aligning its strategies with the goals of the Paris Agreement and the United Nations Sustainable Development Goals (SDGs).

ArmInfo. Economic relations between Armenia and Iran are at a high level, and in order to  maintain and deepen them, it is necessary to intensify practical  actions to increase trade turnover and expand areas of cooperation.  This was stated by the Minister of Economy of Armenia Gevorg Papoyan  during a meeting with the delegation of the Majlis (Iranian  parliament), headed by the head of the IRI-RA friendship group Ara  Shahverdyan. The meeting was also attended by the Ambassador of Iran  to Armenia Mehdi Sobhani and the head of the RA-IRI parliamentary  friendship group of the National Assembly of Armenia Narek Babayan.

ArmInfo. In the context of global economic and geopolitical challenges, Armenia's membership in the EAEU is extremely important for the stability of the country's economy. This is stated in a statement by the President of the  Russian Tashir Group of Companies Samvel Karapetyan.

ArmInfo.

ArmInfo.

ArmInfo.In 2024, Armenia welcomed 2.2 million tourists, a 7% decrease from the previous year, as reported by Gevorg Papoyan, the Minister of Economy of Armenia, during a press conference on January 13.  He noted that the decrease in tourist numbers was primarily due to fewer visitors from Russia,  while there was an increase in tourists from other destinations,  particularly from China, India, France, Georgia, the UAE, and South  Korea.  At the same time, Papoyan noted that the Ministry has a  target of reaching 2.6 million tourists by 2026, a goal he believes,  is quite realistic.

ArmInfo. The metallurgical plant in Yeraskh is expected to start mass production in February or March of this year, according to Minister of Economy of Armenia Gevorg Papoyan, who expressed a similar view during a press  conference.

ArmInfo. The issue of  leaving the EAEU  is not on the agenda of the Armenian government, as  stated by Armenian Minister of Economy Gevorg Papoyan during a press conference on January 13.  He noted that Armenia's membership in the EU is a parallel agenda. Papoyan said.

ArmInfo. The launch of the Amulsar project is expected to boost economic growth, as stated by Economy Minister Gevorg Papoyan during the final press conference on January 13.  In particular, he noted that the mine's full operational cycle would result in an annual GDP growth increase of 1%. The  economy will receive $120 million in taxes alone every year, numerous  jobs will be created, and communities bordering the deposit will  receive subsidies, etc. he said.  Additionally, the Minister of Economy  noted that GDP growth is expected to be around 5.5% by the end of  2025.  

ArmInfo. There are numerous risks associated with Armenia's exit from the Eurasian Economic Union (EAEU), as stated by RA Finance Minister Vahe Hovhannisyan during a briefing in parliament on January 13.  "Many different risks are being calculated, including those connected with this. All risks are  assessed and considered," he said.