ArmInfo.The Central Bank of Armenia has revised its GDP growth forecast for 2024 from the  previous 5.3-6.4% to an updated 6.8-6.1% (against 8.7% growth in  2023), depending on the formation of high or low inflation.

ArmInfo.The Armenian authorities are consistently working to eliminate any types of tax  preferences. The Minister of Finance of the Republic of Armenia Vahe Hovhannisyan stated this on June 12 at a meeting of the National Assembly of the Republic of Armenia.

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ArmInfo. The state budget is not only an accounting document, it is, first of all, a political  document. RA Minister of Finance Vahe Hovhannisyan stated this on June 12, presenting a report on the execution of the state budget of Armenia for 2023 in the National Assembly.

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ArmInfo. Chaired by Nikol Pashinyan a meeting was held, during which the draft strategic  employment program of Armenia was discussed.

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.At the moment, the reduction of the key rate does not affect interest rates on loans.  Head of the Central Bank of Armenia Martin Galstyan stated during a press conference on June 11.

ArmInfo.The persistence of above-potential growth, as well as the non-widespread nature of  recent growth, poses certain uncertainties regarding the relative position of aggregate demand versus aggregate supply.

ArmInfo.Inflation in Armenia will approach 2.2%-2.5% by the end of the year. Governor of the  Central Bank of Armenia Martin Galstyan voiced a similar forecast on June 11 during a press conference. He noted that the inflation rate will depend on the indicators of the agricultural sector.

ArmInfo. The government does not yet have the final figures for the damage caused by the flood in  the Lori region, which would allow us to more accurately assess the volume of expenses and understand how to respond to the disaster. Governor of the Central Bank of Armenia Martin Galstyan stated during  a press conference on June 11, referring to the results of discussions with the RA Ministry of Finance. "But it is obvious that the scale of the disaster is large," he said.

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ArmInfo.IDBank announces the launch of idcoin, a new tool in the customer loyalty system. Clients now have the opportunity to get new loyalty points, which will be reflected both in the Idram&IDBank application and on the idplus partner loyalty platform.

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ArmInfo.The Central Bank of Armenia continues to reduce the refinancing rate - and this time by  0.25 percentage points - from 8.25% to 8%. The decision to reduce the refinancing rate again was made on June 11 at a meeting of the Council of the Central Bank of the Republic of Armenia. In accordance  with this, rates on pawnshop repo have been reduced by the same amount - from 9.75% to 9.5%, and on deposits attracted from banks - from 6.75% to 6.5%.

ArmInfo.The Armenian authorities are moving towards a gradual abolition of the program for  returning income taxes to mortgage holders. The National Assembly of the Republic of Armenia at the plenary meeting on June 11, in the second and final reading, discusses amendments to the Tax Code of the  Republic of Armenia.

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