ArmInfo. In Armenia, the services sector is showing double-digit growth, but already with a slowdown, due to a subsidence in the volume of services provided in the real estate market and slowing growth in services in other areas of activity. This is evidenced by the data of the RA Statistical Committee, according to which the service sector in Jan-May 2023, slowed y-o-y growth from 24.9% to 19.9%, providing revenue of 1.170 trillion drams ($2.9 billion), while in May revenues grew by 1.1% - up to 251.3 billion drams ($650.2 million).

ArmInfo. Armenia significantly increased the volume of foreign trade with many EU countries - with, Germany, France, Austria, Greece, Denmark, Finland, Poland, Slovakia (2- 3.7-fold), rapidly increasing foreign trade turnover in the direction of the USA, UAE, Japan, Great Britain and Canada (2.2-5.8-fold). This is evidenced by the data of the RA Statistical Committee for January-May 2023.

ArmInfo. Armenian trade sector in Jan-May 2023 accelerated the y- o-y growth rate from 8.9% to 24.5%, providing a volume of 1.8 trillion drams ($4.7 billion).  According to the data of the RA Statistical Committee, in May of this year alone, trade turnover in Armenia grew by 9.6% - up to 428.5 billion drams ($1.1 billion). The improvement in dynamics is due to the acceleration of growth rates in all types of trade.

ArmInfo. In H1 2023, 1 million tourists visited Armenia, which is almost 2-fold higher than a year ago. The Tourism Committee of Armenia reports on its Facebook page.

ArmInfo. Armenia's communications sector revenue slowed down y-o-y growth to 4.5% in January-May 2023 (from 5.4% a year earlier), amounting to 64 billion drams. This is evidenced by the data of the RA Statistical Committee, according to which a similar slowdown iny-o-y growth from 5.8% to 4.5% was demonstrated by the dominant telecommunications sector (91.6%), with revenues of 58.7 billion drams.

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ArmInfo. January-May 2023 the volume of cargo transportation in Armenia increased by 10.1% per annum (against 12% in the same period in 2022), amounting to 7,301.5 thousand tons. This is evidenced by the data of the RA Statistical Committee.

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ArmInfo. Electricity generation in Armenia began to decline, changing the y-o-y dynamics from 13.1% growth to 3.1% decline in Jan-May 2023, amounting to 3,630.3 million kWh. And in May alone, electricity generation decreased by 5.1%, amounting to 590.9 million kWh. This is evidenced by the data of the RA Statistical Committee.

ArmInfo. Armenia's national debt exceeded $11bln by this June  - a 15% year-on-year increase due to an increased domestic debt and decreased foreign debt. Specifically, Armenia's domestic debt showed a 51% year-on-year increase, exceeding $4.6, with the foreign debt showing a 1.5% decrease, totaling $6.4bln.

ArmInfo.  The Ministry of Finance of  Armenia proposes a gradual phasing out of the income tax refund  system for mortgage loans throughout Armenia. The draft law is  submitted for public discussion on a single portal of legal acts.

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ArmInfo. The unemployment rate in  Armenia in Q1 2023 increased from 12.7% to 13.7%, but compared to the  bar a year ago, it turned out to be lower (14.8% in Q1 2022).  This  is evidenced by the data of the RA Statistical Committee.

ArmInfo. At the end of 2022, the  Russian Export Center (REC) supported the supply of Russian  non-commodity exports to Armenia in the amount of $94 million, non-  financial support amounted to $6 million, financial support - $20  million, Vigen Yenokyan, representative of the REC in Armenia, said  in his speech at a "Digital transformation of industrial enterprises:  new business models and technologies" strategic session.

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ArmInfo.Head of the Armenian  Cabinet of Ministers and the Ministry of Social Labor proudly declare  that after the July increase, the minimum pension of 36,000 drams  will amount to 99.5% of the minimum food basket, but this is by no  means the case.  Movses Aristakesyan, the Chairman of the "Center for  Economic Rights" NGO ", an international financial expert in public  finance management, wrote on his Facebook page.

ArmInfo. June's 0.5% deflation in  Armenia was caused by a 4.1% decrease in food prices, an almost  identical increase in service tariffs by 3.9% and a slight increase  in non- food prices by 0.3%. The most noticeable fall in food prices  was for vegetable oil - by 39.2%, vegetables - by 28.1%, buckwheat -  by 23.1%, lentils - by 20.7%, flour - by 16.3%, peas - by 12.6%,  margarine - by 10.6%, pork - by 10.1%, in parallel with which the  prices of eggs have risen significantly - by 21.7% and beef - by 9%.  This is evidenced by the data of the RA Statistical Committee,  according to which, a year ago in June, 10.3% inflation was recorded  due to the increase in the prices of food and non-food products by  16.1-7.5% and the increase in service tariffs by 5.3%.