ArmInfo.

ArmInfo.

ArmInfo. Historically, Armenia and Russia have had friendly relations. Deputy Prime Minister  of the Russian Federation Alexey Overchuk stated on December 15 at a meeting of the Armenian-Russian intergovernmental commission on economic cooperation.

ArmInfo. Japan has introduced a new package of anti- Russian sanctions, which includes a  ban on imports of non-industrial Russian diamonds, export restrictions, and asset freezes, the country's Ministry of Economy and Trade said.

ArmInfo.

ArmInfo.

ArmInfo.For the second year in a row, the Armenian economy will become the leader in terms of economic growth among the countries in the region. According to estimates by the Eurasian Development Bank (EDB), the country's GDP growth at the end of 2023 will be 8.3% (against the previously projected 7.5%). Alexey Kuznetsov, Head of EDB Research Department, announced on Thursday in Almaty, presenting the EDB Macroeconomic  Outlook 2024-2026.

ArmInfo. The International Monetary Fund (IMF) forecasts per capita GDP growth in Armenia in 2023 to $8,029 (from actual $6,569 in 2022), with further y-o-y increases to $8,352 in 2024 and $8,967 in 2025. IMF reports, also providing an improved forecast for Armenia's GDP growth for 2023 from the previous 5.5% to an updated 7%, with a slowdown to 5% in 2024 and to 4.5% in 2025.

ArmInfo.

ArmInfo. The International Monetary Fund (IMF) has opened Armenia's access to a loan of approximately $24.4 million (SDR 18.4 million) under the Stand-by Agreement (SBA), bringing the total access amount to approximately $73.3 million (SDR 55.2 million).  also providing an improved forecast for Armenia's GDP growth for 2023 from the previous 5.5% to an updated 7%, with a slowdown in 2024 to 5% (as previously expected). In terms of inflation, the IMF points to its rapid decline in Armenia, and predicts a return to the target threshold of 4% by mid-2024 and stabilization near this level.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.The Export Insurance Agency of Armenia (ESIA) celebrates its 10th anniversary with the launch of a new third service: insurance for financing capital investments for the organization and development of export-oriented industries.

ArmInfo. Today, as a result of the actions of unfriendly countries and a number of external factors, the Russian  aluminum industry is under unprecedented pressure, which puts it on the verge of an acute crisis with severe long-term consequences, the Russian Aluminium Association reports. 

ArmInfo. In Armenia, state duty rates on exported excisable goods will be increased 10 times, Armenia's Parliament at the plenary session on December 11, in the second and final reading, discusses amendments to the law "On State Duty".

ArmInfo.A meeting of the Armenian-Egyptian intergovernmental commission will be held in Egypt  from February 4 to 6.

ArmInfo.

ArmInfo.Economic growth for 2023 is the result of continuation of positive factors from the previous year. However, if at the beginning of the year economic growth was quite high, in the second half of the year, starting from June-July, the growth rate of economic activity slowed down, amounting to about 6%. If the downward trend in growth continues, the 7% target could be in jeopardy in 2024, leading to budgetary difficulties as tax revenues also decline, according to an analysis by the Luys foundation. 

ArmInfo.In Armenia's foreign trade, the UAE pushed China out of the 2nd place in terms of exports,  and the USA is trying to overtake China in terms of imports. But Russia continues to lead in foreign trade turnover with Armenia with a coverage of over 35%, and the milestone of 49.6% has already been reached in exports alone, according to the data of the RA Statistical Committee for January-October 2023.