ArmInfo.The Central Bank of Armenia further reduced the refinancing rate - this time by 0.25  percentage points - from 9.75% to 9.5%. This is the fourth decrease this year, after two years of increase with reaching a historical maximum of 10.75% at the end of 2022 and maintaining this level until June 13 of this year, when the first decrease of 0.25 percentage points took place. , then on August 1 there was a second decline by  the same amount, and on September 12 the decline was more noticeable - by 0.5 percentage points.

ArmInfo. It is impossible to completely get rid of the shadow economy, but minimizing its impact  on the development of Armenia is one of the primary tasks of the State Revenue Committee of the Republic of Armenia. Chairman of the State Revenue Committee Rustam Badasyan stated this on October 31 at  a hearing in the commissions of the National Assembly of the Republic of Armenia on the draft state budget of the country for 2024.

ArmInfo. The implementation of the capital expenditure program provided for by the state budget  of Armenia in 2023 will not differ much from the indicators in 2022, RA Minister of Finance Vahe Hovhannisyan stated on October 31 at a hearing on the draft state budget of Armenia Vahe Hovhannisyan, in  response to a question by MP Tadevos Avetisyan of the opposition Armenia. 

ArmInfo.Teach For Armenia is partnering with HSBC Armenia to implement the Káits Social Innovation Incubator — Armenia’s first-ever incubator dedicated to education.

ArmInfo.Governor of the Central Bank of Armenia Martin Galstyan expressed fears that the  problem of underfulfillment of budget capital expenditures will not be resolved in 2024 as well.

ArmInfo.69 IT companies that were included in the list of 1000 large taxpayers replenished the  state treasury by 59 billion drams in Jan-Sept 2023. This was reported by the press service of the Ministry of High-Technological Industry, citing data from the Modex agency.

ArmInfo.In 2023, Armenia will ensure economic growth of 7.2%; the main driver of growth will remain the service sector. Minister of Finance of Armenia Vahe Hovhannisyan stated on October at a parliamentary committee hearing on the 2024 budget. In this regard, he recalled that the draft budget for 2024 includes a growth rate of 7%.

ArmInfo.During the operational meeting of the Deputy Prime Ministers in the Government of the Russian Federation, the issue of simplifying the procedure for opening accounts in Russian banks by foreign entrepreneurs was considered.

ArmInfo. Capital expenditures in 2024 will reach 6.6% of GDP, which is 0.7% higher  than a year ago. Minister of Finance of Armenia Vahe Hovhannisyan announced on October 30 at a parliamentary committee hearing on the 2024 budget. 

ArmInfo.The budget deficit in 2024 could rise to 4.6% from 3.2% under the current draft budget  scenario. Minister of Finance of Armenia Vahe Hovhannisyan stated on October 30 at a parliamentary committee hearing on the 2024 budget.

ArmInfo.

ArmInfo. It is planned to establish an Information Systems Agency in Armenia. Governor of the  Central Bank of the Republic of Armenia Martin Galstyan announced on October 30 at a parliamentary committee hearing on the 2024 budget.

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ArmInfo. In terms of the revenue part of the 2024 budget, the RA budget will double compared  to 2018. Prime Minister of the Republic of Armenia Nikol Pashinyan stated on October 30 at a parliamentary committee hearing on the draft state budget of the Republic of Armenia.

ArmInfo.Regional and international tensions pose serious threats to Armenia, Armenia's Premier Nikol Pashinyan stated at a hearing of the 2024 draft budget in Armenia's Parliament.  

ArmInfo.In 2024, the German airline Eurowings will launch direct flights on the Berlin-Yerevan-Berlin route. This is stated in a message of the German Embassy in Armenia on its Facebook page.

ArmInfo.Armenian Minister of Economy Vahan Kerobyan met with representatives of HSBC Bank as  part of a working visit to London.

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ArmInfo. The Eurasian Development Bank (EDB) and Russian- Armenian University (RAU) are launching  collaborative research and training programmes focusing on public-private partnerships (PPP). A relevant memorandum was signed by Denis Ilin, EDB Senior Managing Director, and Sergey Kapinos, RAU  Vice- Rector for International Cooperation, the Banks press service reports.

ArmInfo. The large Russian metallurgical holding Novostal-M intends to open its representative  office in Armenia. On October 26, a seminar was held for the professional community on the technical features of new types of reinforcement and the possibilities of their use in construction projects in Armenia, during which specialists from the Russian company presented innovative products - high-strength reinforcement of type A550SK, as well as the advantages of its use in terms of seismic resistance.