ArmInfo.The application of new property tax rates in Armenia will increase revenues to the budgets of local governments 4.3-fold, Minister of Finance of the Republic of  Armenia Atom Janjughazyan, announced this on May 27 introducing  amendments to the Tax Code.

ArmInfo. The Armenian government at its May 27 meeting approved the 19th program of measures to neutralize the economic consequences of COVID-19.

ArmInfo. Beeline announces the launch of a service for building a local network for corporate clients, installing server and network equipment and connections,  which will be available when connecting to the Corporate Internet or  Corporate VPN services.

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ArmInfo. Toyota Motor Company began deliveries of Toyota cars of Russian assembly to Armenia. It is reported by Izvestia with reference to the press service of the  company.

ArmInfo. For the first time in Armenia, the number of non-cash card transactions exceeded the number of cash card transactions. According to the results of the first quarter of 2020, in quantitative terms, the share of non-cash card  transactions amounted to 57% of the total number of card  transactions, and the share of cash card transactions was 43%. The  Executive Director of the Union of Banks of Armenia (UBA) Seyran  Sargsyan said this on May 26 during a press conference.

ArmInfo. Risks in the banking system of Armenia today associated with the uncertainty of the situation with the coronavirus pandemic are manageable even in the worst-case development scenario. This opinion was held May 26 during  an online press conference, answering a question from ArmInfo,  expressed by Executive Director of the Union of Banks of Armenia  (UBA) Seyran Sargsyan.

ArmInfo. The current situation with coronavirus affected the income of individuals and legal entities, which, of course, could not but affect the lending process.  In response to a question from ArmInfo, this during an online press  conference on May 26, said Executive Director of the Union of Banks  of Armenia (UBA) Seyran Sargsyan.

ArmInfo.n. The last month of the first quarter of 2020 coincided with the beginning of the implementation of measures to prevent the spread of coronavirus, which could not but affect the indicators of the banking system of  Armenia, development trends, and the economy as a whole.  

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ArmInfo. The negative balance of foreign trade turnover of Armenia has decreased in January-April 2020 by 16.2% per annum, against the growth of 9.2% a year earlier.

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ArmInfo. The Armenian communication operators - telecommunication companies Beeline, Ucom and MTS Armenia issued a single statement regarding the 5G network.  ArmInfo was informed about this at the press service of Beeline.

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ArmInfo.Economic activity in Armenia, in January-April 2020 has decreased by 1.7% per annum (against 7% growth a year earlier), against the backdrop of a decline  in exports and imports by 8.1% and 11.5%, respectively. According to  preliminary data of the RA Statistical Committee, in the industry  breakdown, the industrial sector, the services sector and the energy  sector showed growth, the sectors of trade and construction were in  decline, and data on the agricultural sector are published in the  statistical report only quarterly.

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ArmInfo. As a result of the  policy led by the government, Armenia is one of the countries in the  world with the lowest inflation rate, as well as the most stable in  terms of currency volatility and currency shocks. Prime Minister  Nikol Pashinyan stated this live on his Facebook page. He noted that  the government has tried and will continue to try to maintain a  balanced approach in terms of priorities. <We faced a choice between  economics and healthcare. At the same time, we understood that we can  no longer be closed from an economic point of view. Therefore, we  took the path of balance - not putting economic or health priorities  in the background, maintaining balance>, Pashinyan emphasized.