ArmInfo.In Q1 2022 8.299.1 thousand tons of aluminum foil were produced in Armenia, which is 4.1% lower than the indicator of a year ago (against a 2.6% decrease  a year earlier).

ArmInfo.The industrial sector of Armenia increased its production volumes by 3.1% per annum in Q1 2022 (against 3.9% decline a year earlier), amounting to 550.7 billion  drams ($1.1 billion). At the same time, in March alone, the volume of  production decreased by 1.3% - to 187.5 billion drams ($377.4  million). This is evidenced by the data of the RA Statistical  Committee.

ArmInfo.International Bank for Reconstruction and Development (IBRD) will grant a 22.6 mln euro loan to Armenia under an education program. At its meeting on Thursday,  Armenia's Cabinet approved the signing of a relevant agreement.

ArmInfo.. January 1 to April 20, 2022, Armenia's trade turnover recorded an AMD 550bln ($1bln) increase as compared with the corresponding period last year,  Armenia's Prime Minister Nikol Pashinyan stated at a Cabinet meeting  on Thursday.  

ArmInfo. Armenia will expand the circle of officials whose property will be subject to verification by the Prosecutor General's Office for legality. This was stated on May  5 at a government meeting by Deputy Minister of Justice Karen  Andreasyan, presenting a draft amendment to the law "On confiscation  of property of illegal origin."

ArmInfo. From June 15, a regular ferry service will be launched for Armenia from the Georgian port of Poti to the Russian Port of Kavkaz . Minister of Economy Vahan  Kerobyan told journalists about this during a briefing on May 5,  referring to the decision of the authorities.

ArmInfo.

ArmInfo.On May 4, Armeconombank started the primary placement of regular tranches of dollar and dram nominal, coupon and non-documentary bonds with issue volumes of $  5mln and 1.5bln drams.

ArmInfo. "Rossgostrakh Armenia IC " holds the lead in net insurance premiums, while continuing to lead in net insurance claims as well. This is evidenced by the data of the  Financial Rating of Insurance Companies of Armenia as of March 31,  2022, prepared by ArmInfo IC, based on the results of the first  quarter.

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ArmInfo. More than 90% of companies in Armenia have not succeeded in digitalization. This was stated on May 4 by Minister of Economy of Armenia Vahan Kerobyan  during the international conference entitled: "New business  opportunities within the framework of the EAEU: localization through  cooperation, tools, financing and support" in the "Russian Book  House" in Yerevan.

ArmInfo. Italian entrepreneurs are showing investment interest in the Armenian market. According to the official report of the Ministry of Economy, the head of the  Armenian economic department Vahan Kerobyan held a meeting with  representatives of a number of Italian companies that intend to  implement investment projects in Armenia in various sectors of the  economy.  

ArmInfo. The total profit of insurance companies (ICs) of Armenia for Q1 2022 exceeded 1.2 billion drams (over $2.5 million), with a 4-4.4-fold climb in terms of y-o-y  and quarterly  (against a 2.2-2.5-fold decline in the comparable  periods of 2021).

ArmInfo.The European Union constantly shares the challenges facing Armenia and is ready to continue to assist the government of the country. EU Ambassador  Extraordinary and Plenipotentiary to Armenia Andrea Wiktorin stated  this during a meeting with Armenian Finance Minister Tigran  Khachatryan.

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ArmInfo.IDBank and Idram sum up the next program of "The Power of One Dram" initiative: the entire amount of "one drams" collected during March-April of this year was donated to "My Forest Armeniaenvironmental non-governmental organization.

ArmInfo.The ruling faction of the Armenian parliament proposes amendments to the RA Civil Code, according to which only open joint-stock companies representing the  public interest will present financial statements.

ArmInfo.The composition of Armenia's exports may change. Head of the Central Bank of Armenia Martin Galstyan expressed this opinion during a press conference on  May 3.

ArmInfo. In Armenia, the absorptive capacity of the economy has increased. Referring to the assessment of bank credit specialists, on May 3, during a press  conference, Head of the Central Bank of the Republic of Armenia  Martin Galstyan stated. He explained that Armenian banks, judging by  the easing of lending conditions in the fourth quarter, somewhat  increased their appetite for risk, and this, in turn, suggests an  acceleration in lending growth in subsequent quarters.

ArmInfo.There is still high uncertainty in terms of macroeconomic prospects due to geopolitical developments. At the same time, the risks of inflation deviating from  the projected vector are generally balanced, but in the event of  their sharper direction, the Central Bank will react properly to  ensure price stability.