ArmInfo.

ArmInfo.

ArmInfo. According to preliminary estimates, Armenia's national debt reached 48.4% of the  GDP by the end of 2023 against 49.2% the previous year, Minister of Finance Vahe Hovhannisyan told a press conference. 

ArmInfo.

ArmInfo.A weak deflationary impact on the Armenian economy is expected from the external sector. Governor of  the Central Bank of the Republic of Armenia, Martin Galstyan, stated on at a press conference January 30, presenting the rationale for today's reduction in the refinancing rate by 0.5 pp - setting it at 8.75%.

ArmInfo.A certain cooling of the overheating in the Armenian labor market is due to the employment of some of our compatriots forcibly displaced from Artsakh, as well as labor migrants arriving from other countries.

ArmInfo. The situation in the public multiplex in Armenia is very bad, caused by the large debts that the country's television companies have accumulated. Chairman of Armenia's National Commission on TV and Radio (NCTR)   Tigran Hakobyan stated  at a press conference on January 30.

ArmInfo.At its meeting today, the Board of the Central Bank of Armenia decided to reduce the refinancing rate by 0.5 pp, setting it at 8.75%.

ArmInfo.The Fly Arna airline has officially suspended flights.  

ArmInfo. Since January 2023, a total of about 16 thousand labor migrants from India have arrived in Armenia. Deputy Governor of the Central Bank of Armenia (CBA) Armen Nurbekyan said, presenting a report on the country's macroeconomic environment at the Amundi-Acba Economic Forum 2024.

ArmInfo.At the end of 2023, the list of 1000 largest taxpayers of Armenia included 70 IT  companies, which in total replenished the state treasury by 75 billion drams, which exceeds the figure a year ago by 44% or 25 billion drams.

ArmInfo. The second Amundi-Acba Economic Forum 2024 was held in Yerevan on January 24, which brought together thought leaders, industry experts, and innovators to explore and discuss critical topics shaping the economic landscape.  Jean Mazedjian, CEO of Amundi-Acba Asset Management, mentioned during his greeting that, taking into account the results of last year's forum, it was decided to make the event  traditional and hold it every year.

ArmInfo.There are currently no reasons for concern regarding the growth of consumer lending in Armenia. Deputy Governor at Central Bank of Armenia Armen Nurbekyan said, answering questions during a panel session at the economic forum organized by Amundi-ACBA Asset Management, the pension fund  management company.

ArmInfo. Six out of ten regions of Armenia experience almost no GDP growth. Chairman of the  Republican Union of Employers of Armenia, economist Gagik Makaryan said on January 29 during a discussion on the topic "Trends in the economic development of the Republic of Armenia in the context of the  economic distribution of large taxpayers."

ArmInfo. 95% of Armenian IT sector services are exported.  Chairman of the Republican Union of  Employers of Armenia, economist Gagik Makaryan announced during a press conference on January 29, organized by the Club of Economic Journalists.

ArmInfo. The most important sectors of the Armenian economy, which are of strategic importance  for the republic and capable of providing it with long-term and stable economic growth, are targeted by Baku.

ArmInfo. If in 2022 the list of 1000 largest taxpayers in Armenia included 8 mining organizations,  then in 2023 there were already 5 of them. Vardan Janyan, First Deputy General Director of Zangezur Copper-Molybdenum Combine CJSC (ZCMC), President of the Union of Miners and Metallurgists of Armenia  stated on January 29 b during a discussion on the topic "Trends in the economic development of the Republic of Armenia in the context of the economic distribution of large taxpayers" at the Club of Economic Journalists.

ArmInfo.The taxes paid by TOP-10 of the list of 1000 largest taxpayers of Armenia make up about  20% of the budget; for example, TOP-10 in Germany pay only 2.5% of taxes. In 2021, the figure in Armenia was 85%, and in 2022 it was only 58.2%. A 1.5-fold decline indicates successful economic diversification.

ArmInfo.The European Union intends to attract up to EUR10 billion in investments to establish a  transport corridor from Central Asia to Europe through the Transcaucasus and Turkey, bypassing Russia, but so far Brussels is ready to allocate only EURO 2.97 billion for these purposes in the form of two credit lines from the European Investment Bank (EIB ) and the European Bank for Reconstruction and Development (EBRD), informs  the statement of the European Commission, made within the framework of the Investors Forum for EU-Central Asia Transport Connectivity  that opened in the Belgian capital.

ArmInfo.Ardshinbank CJSC has chosen OLYMPIC Banking System to support its securities and forex operations.