ArmInfo. Armenian Finance Minister Tigran Khachatryan and Russian Ambassador Extraordinary and Plenipotentiary to Armenia Sergey Kopyrkin discussed issues of  Armenian-Russian economic cooperation.

ArmInfo.

ArmInfo. This year, one of the largest banks in Armenia, ACBA Bank, has made an extremely serious claim in the market. Due to the accumulated profit, the bank increased its authorized capital from 30 to 50 billion drams, and in mid-September announced an open and free subscription to its shares for a total of 7.5 billion drams.

ArmInfo.In January-August 2021, Armenia generated 5,030.5 million kWh electricity, which is 1.5% less than a year ago (against an increase of 1.9% a year  earlier).  According to the Statistical Committee of the Republic of  Armenia, in August alone, electricity generation decreased by 8.8% -  to 576.4 million kWh.

ArmInfo.The new shareholder of 60% of shares of Zangezur Copper- Molybdenum Combine (ZCMC), GeoProMining company, will build a copper smelter in Armenia, the  relevant decision has been made. The construction site has not yet  been determined. With the implementation of the plans, the total  volume of accumulated investments can reach $ 3.5 billion, said  member of the Board of Directors of GeoProMining and its owner Roman  Trotsenko on October 4 in an interview with the Public Television of  Armenia.

ArmInfo. Armenia's foreign trade turnover in January-August 2021 amounted to $ 5 billion, with an improvement in y-o-y dynamics to 12.7% growth (from a 10.2% decline a year earlier), and with a noticeable excess of the 2% pre-COVID  growth rate. Moreover, exports (21.8%) showed higher growth than  imports (7.7%), with the trend emerging from the downward 6% and  12.4%, respectively, a year earlier, and with a significant excess of  the pre-COVID upward rates of 4.6 % and 0.7%, respectively.

ArmInfo.In 2022, Armenia expects to receive official grants in the amount of 40.3 billion drams, or approximately $ 81.6 million. This is stated in the draft law "On the  state budget of the Republic of Armenia for 2022", approved by the  Cabinet of Ministers on September 30.

ArmInfo.Russia and China hold the lead among Armenia's foreign trade partners. According to the final data of the Statistical Committee of the Republic of Armenia,  Russia holds the lead in Armenia's foreign trade turnover with a  volume of over $ 1.5 billion in January-August 2021, with the y-o-y  dynamics changed from the 0.9% decline to 11.8% growth.

ArmInfo.

ArmInfo.

ArmInfo. The volume of industrial production in Armenia in January-August 2021 amounted to 1.4 trillion drams ($ 2.7 billion), having increased on a y-o-y terms  by 1% alone, repeating the dynamics of the same period in 2020  (0.9%), while significantly yielding to the pre-COVID 9.5% growth. 

ArmInfo.In Armenia, economic activity in January-August 2021 increased by 4.9% per annum, accompanied by an 6.4% decline a year ago, but so far yielding to the  pre- COVID 7% growth (in January-August 2019). In August of this year  by August 2020, economic activity also exited last year's 9.8%  decline to the current 2.3% growth, which is very different from the  pre-COVID 7.6% growth (from August 2019 to August 2018). At the same  time, in August 2021 alone, the growth of economic activity slowed  down to 2.1% from July 7.5%, which was also observed in August 2020 -  up to 7.4% from July 9.7% (against the pre-COVID 7.2% growth in  August 2019).

ArmInfo.The delegation of the Armenian Ministry of Economy will discuss the possibilities of expanding interaction with the leader of the world's diamond mining  industry, the Russian mining company with state participation, ALROSA  PJSC  in Moscow.  

ArmInfo. The Tatu road in Armenia, which is seen as an alternative route for Iranian transit trucks and connects Iran with Russia and Europe, should be completed  with Iran's participation.

ArmInfo.

ArmInfo.

ArmInfo.The expenditures of the state budget of Armenia in 2022, compared to the approved state budget for 2021, in relation to GDP will increase by 1 percentage  point - up to 4.4%, or by about 338 billion drams. Current  expenditures will grow by almost 207 billion drams and will amount to  23.4% of GDP.

ArmInfo. The joint project of the Fund for Armenian Relief (FAR) and HSBC Bank Armenia cjsc (HSBC Armenia) named "Boosting Responsible Financial Behaviour and Kick Start Business Activism among Rural Population" presented its results on 1 October. The concluding event took place in the Tavush regional administration. Representatives of the project and beneficiaries of the 4  rural communities of the Tavush region participated during the event.

ArmInfo.

ArmInfo.