ArmInfo.

ArmInfo.

ArmInfo. Unlike 2022, when the Armenian banking system received most of its profits from services provided to non-residents (accounts, payment cards, currency transactions, ed. note), in 2024 there is a serious demand for credit products, which will allow banks to more thoroughly generate profits. Governor of the Central Bank of Armenia Martin Galstyan stated during a press conference on October 31.

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.

ArmInfo. The budget of the Ministry of Economy of Armenia for 2024 will be 92.2 billion drams,  which is 47% higher than a year ago. Minister of Economy of Armenia Vahan Kerobyan stated on October 31 at the RA NA  Standing Committees discussions on the draft state budget for 2024.

ArmInfo.The British financial magazine Euromoney has awarded Ardshinbank with two prestigious titles: "Best Corporate Bank" and "Best Bank for ESG" (Environmental, Social, and Governance). Earlier in 2023, Euromoney named Ardshinbank the best bank in Armenia for the third time. The "Euromoney Awards for Excellence" competition is held annually, and international experts select the best banks from 100 countries in various categories.

ArmInfo.IDBank has released the first metal vertical card in RA, Visa Infinite Special Edition, with exclusive features.

ArmInfo.

ArmInfo.There is every reason to assume that work on the construction of the Armenia-Georgia high-voltage power transmission line will begin next year. Minister of Territorial Administration and Infrastructure of the Republic of Armenia Gnel Sanosyan stated on October 31 at the RA NA  Standing Committees discussions on the draft state budget for 2024.

ArmInfo.In 2024, construction of various sections of the The International North-South Transport Corridor (INSTC)  will continue. Minister of Territorial Administration and Infrastructure of the Republic of Armenia Gnel  Sanosyan stated on October 31 at the RA NA  Standing Committees discussions on the draft state budget for 2024.

ArmInfo.The tourism budget in 2024 will be 13.2 billion drams. Minister of Economy of Armenia Vahan Kerobyan stated on October 31 at the RA NA Standing Committees' hearings on the draft state budget of the country for 2024. In this regard, he emphasized that over the past 3 years, the tourism budget  in Armenia has increased 6.5-fold.

ArmInfo. Trade relations with Russia are important for us - we are developing them, but at the same time we are spending enormous resources, time and effort to diversify foreign trade relations in other areas. Armenian Minister of Economy Vahan Kerobyan told reporters during a briefing on October 31.

ArmInfo. Next year, the implementation of a program to re- extend the operating life of power unit N2 of the Armenian Nuclear Power Plant will begin.  Minister of Territorial Administration and Infrastructure of the Republic of Armenia Gnel Sanosyan stated on October 31 at the RA NA  Standing Committees discussions on the draft state budget for 2024.

ArmInfo. HSBC Bank Armenia CJSC (hereinafter HSBC Armenia/Bank) has been awarded two recognitions by the reputable Euromoney Awards for Excellence 2023. The Bank has been recognized for its strong commitment to Corporate Social Responsibility (CSR) and its efforts in promoting Diversity & Inclusion (D&I) within the Armenian banking industry.

ArmInfo. Despite the shelling by the Azerbaijani armed forces in direction of the Armenian-American metallurgical plant under construction in Yeraskh (Ararat region), the project continues to be implemented. Armenian Minister of Economy Vahan Kerobyan announced to journalists on October 31 during a briefing.

ArmInfo. One of the main tasks of the Armenian government in the field of civil aviation is to remove it from the "black list" of the European Union. The Minister of Territorial Administration and Infrastructures Gnel Sanosyan stated on October 31 at the RA NA Committees hearings on the draft state budget of Armenia for 2024.

ArmInfo.In 2024, the volumes of electricity produced by renewable energy sources will account for 17% of the total volumes of electricity produced in Armenia.  This forecast was made by Chairman of the Commission for the Regulation of Public Services, Garegin Baghramyan, at parliamentary hearings on the draft state budget of the country for 2024.

ArmInfo. The weak deflationary impact from the external sector on the Armenian economy will  continue. During the press conference held on October 31, Governor of the RA Central Bank, Martin Galstyan, presented such a forecast regarding the reduction of the refinancing rate from 9.75% to 9.5%.

ArmInfo.

ArmInfo. Work on the construction of a new Yerevan metro station will begin in 2024, RA  Minister of Finance Vahe Hovhannisyan told reporters on October 31.