ArmInfo.

ArmInfo. A round table discussion was held by ADB Armenia, prior to publication of the Armenia ICT Sector Assessment Report commissioned by ADB. This was reported by the press service of the ADB Armenia on its official Facebook page.

ArmInfo. Russian resettlers, whose number in Armenia, according to various sources, is estimated from 80 to 100 thousand people, not only contributed to high "statistical" economic growth and low "estimated" inflation in the country, but also made it possible to significantly strengthen the resources of the Armenian banking system.  However, Armenia, having benefited from both people and capital, has appeared under the powerful sanctions lens of the Western countries, which is seriously concerned about the possibility of circumvention of anti-Russian sanctions by countries friendly or neutral to Russia. Armenian banks were immediately warned that they must strictly follow the international regulations against the legalization of proceeds from crime (money laundering) and put up serious barriers to clients' attempts to circumvent anti-Russian sanctions in the course of trading activities.  By and large, by March last year, Armenian banks were not ready for such a turn, and therefore they began to actively implement the so-called compliance control and its tough “barrier” tools.

ArmInfo. On March 29, RA Prime Minister Nikol Pashinyan chaired a meeting on economic growth trends and development programs.  <According to the data published the day before by the Statistical Committee, Armenia continues to be in a state of high economic activity.  We set the task of ensuring economic growth of at least 7% by 2023. I propose to discuss some of the nuances related to economic performance indicators and bring together our upcoming actions in terms of ensuring our goals>, the prime minister said.

ArmInfo. Daily tax losses of Artsakh due to the blockade of the Lachin (Berdzor) corridor, the only road connecting the republic with Armenia and the outside world, are estimated at 81 million drams or $204 thousand (395.9 drams per $), of which about 35 million drams are payments of mining enterprises. Vardan Aramyan, former Minister of Finance of the Republic of Armenia, international consultant on state finance management, said in response to ArmInfo's question, on March 29, presenting a report "On assessing the losses of the Artsakh economy due to the blockade", prepared by a group of economists commissioned by the Government of the Republic of Artsakh and former State Minister Ruben Vardanyan.

ArmInfo.

ArmInfo.

ArmInfo. Digitalization and seamlessness of the North-South ITC will lay the foundation for technological standards in Greater Eurasia, thereby playing a significant integration role. This was stated by Tigran Sargsyan, Deputy Chairman of the EDB Management Board, speaking at the "Technological Alliances in Greater Eurasia" plenary session within the framework of the Russia-India Business Forum: Strategic Partnership for Development and Growth.

ArmInfo.

ArmInfo. The average y-o-y official inflation rate in Armenia will decrease to 4.4% in 2023 from the actual 8.6% in 2022 (January-December to the same period in 2021), with further downward movement to 3.8% in 2024 and stabilization at target 4% in 2025. Inflation will begin to fall to the target level from the second half of 2023. Such a forecast is presented in the Monetary Policy Program (MPP) of the Central Bank of Armenia for Q1 2023, published on March 28, where GDP growth expectations are set to slow to 5.8% in 2023 (from an actual 12.6% in 2022), followed by a slowdown to 5.2% in 2024 and 4.9% in 2025.  Moreover, the Central Bank, pointing to a decrease in inflation in the near future in its scenario, nevertheless warns that some goods and services, which are characterized by rigid prices, will continue to rise in price under the influence of high demand and inflationary expectations.

ArmInfo.

ArmInfo. The geography of Kazakhstani air routes from Armenia is expanding. According to the press service of the airport of Armenia International Airports CJSC, the Kazakh Fly Arystan airline will start operating flights on the Aktau-Yerevan-Aktau route since 4 May 2023. According to the source, flights will be operated twice a week, every Thursday and Sunday.

ArmInfo. The blockade of Artsakh by Azerbaijan causes great damage to the economy of the republic: the total financial and economic losses amount to at least 753 million drams or $1.9 million (395.5 dras per $) per day. This was stated by the former minister of finance of Armenia, international consultant on public finance management Vardan Aramyan, on March 29 in Yerevan, presenting a report "On the assessment of the losses of the economy of Artsakh due to the blockade", prepared by a group of economists commissioned by the government of the Republic of Artsakh and former state minister Ruben Vardanyan.

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ArmInfo.

ArmInfo. The Central Bank forecasts a decrease in the unemployment rate to 12.6% for 2023 (from an estimated 13.6% in 2022). But in the medium term, with a certain adjustment in demand and economic growth potential, the unemployment rate will stabilize near 15%. This forecast is given in the Monetary Policy Program (MP) of the Central Bank published on March 28 for Q1 2023, which also indicates the forecast 5.8 % GDP growth in Armenia for 2023 (against actual 12.6% in 2022).

ArmInfo. The U.S. is interested in developing cooperation with Armenia in the technological field.  This was stated during the meeting of the Minister of High-Tech Industry of Armenia Robert Khachatryan with Ambassador Extraordinary and Plenipotentiary of the United States to Armenia, Mrs. Kristina Alyson Kvien.

ArmInfo. If the Armenian government manages to conduct an effective economic policy and keep at least 10% of immigrants in Armenia, then double-digit economic growth will not be episodic, will not be a myth or a coincidence. Economist Tatul Manaseryan expressed a similar opinion in the course of discussions on the topic: "Armenia and the directions of development of Eurasian integration".