ArmInfo.

ArmInfo.The opening of the renovated sales and centers of OVIO, which were modernized within the framework of rebranding, took place in Kapan, Kajaran and Gyumri.

ArmInfo.

ArmInfo.

ArmInfo. The EU will allocate 11 million euros for the next 5 years to implement the Resilient Syunik  (R2D) project.  Head of the EU mission to Armenia Vassilis Maragos stated during an event dedicated to the launch of the program.  

ArmInfo.The unique international music festival "Palaces of Saint Petersburg in Yerevan", which will be held from 16 to 23 June of this year, is organized by Ardshinbank’s financial partnership.

ArmInfo.

ArmInfo. In the city of Kapan, Syunik region of Armenia, a modern sports complex will be built on  the site of the old stadium. At a meeting on June 6, the RA government recognized the lands and property of the current stadium as a priority public interest.

ArmInfo. In Armenia, the growth of economic activity in January-April 2024 accelerated to 13.2% per  annum (from 12.2% in the same period of 2023). But unlike last year, now the driver of growth is not only the trade sector, but also the industrial sector. As evidenced by the final data of the RA Statistical Committee, this was accompanied by continued high growth rates of exports and imports.

ArmInfo. Regional administrations of Armenia will receive 2.426 billion drams from the country's state budget for the implementation of subvention programs. The decision on this was made on June 6 at a meeting of the RA  government.

ArmInfo. A meeting was held under the chairmanship of the Prime Minister of the Republic of  Armenia Nikol Pashinyan, during which a package of bills adopted by the National Assembly in the first reading was discussed, proposing to revise the turnover tax rates.

ArmInfo.The main tourist flow to Armenia last year was formed from Russia, Georgia, Iran, the USA, Germany, France, Ukraine, China and Belarus. Acting Head of the Tourism Committee Susanna Hakobyan announced at a meeting with Prime Minister Nikol Pashinyan. According to her, n exceptional increase in the total  number of tourist visits was recorded in 2023, 2,317 thousand people, an increase of 40% compared to January-December 2022.

ArmInfo. The Board of the Central Bank of Armenia, adhering to the policy of protecting individuals  from currency risks, on May 24, 2024 decided to cancel the official clarification No. 1 to Article 7 (parts 5/1 and 8/1) of the Law "On Currency Regulation and Currency Control" introduced on March 11, 2007, according to which commercial banks were also allowed to issue card loans (including credit lines and overdrafts) in foreign  currency.

ArmInfo.Some problems arose during the implementation of the first sanitary landfill construction  project in the Kotayk region of Armenia. RA Minister of Territorial Administration and Infrastructure Gnel Sanosyan stated on June 5 in the National Assembly of the Republic of Armenia during the discussions on the implementation of the country's 2023 state budget.

ArmInfo.Russia's experience in building underwater fiber-optic link may be relevant, including for  Armenia. This was stated by Alexey Ordin, Digital Attache of the Trade Mission of the Russian Federation in Armenia, during a press conference on June 5. "This is a good field for developing bilateral  technological cooperation," he said.

ArmInfo.

ArmInfo. YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to cheap prices of the most  demanded food products. Thus, in May 2024 compared to May 2023, food products decreased in price by 1.1%, almost repeating last year's decline of 1.2%. Moreover, butter, buckwheat, pasta, flour, cereals,  cheeses, fish, sugar, and meat fell in price most noticeably. 

ArmInfo. Despite the 3.7% increase in the gross agricultural output of Armenia in the first quarter of this year  (87.3 billion drams), according to official statistics, the growth rate of industry has been low, almost stagnant, in recent years.  According to experts, such a deplorable situation in the country's agricultural sector is not accidental and is associated with serious structural economic and demographic shifts over the past 10-15 years.

ArmInfo.

ArmInfo. As a result of the surrender of the territories of Armenia, part of the main gas  pipeline supplying the republic with Russian gas will come under the control of Azerbaijan.