ArmInfo.The European Bank for Reconstruction and Development (EBRD) has improved its GDP growth forecast for Armenia for 2024 from the previous 4.5% to an updated 6.2% (versus actual 8.7% growth in 2023), expecting a slowdown to 4.8% in 2025, according to the Bank's latest Regional Economic Prospects. "Taming inflation"  report, published today.

ArmInfo.During the 33rd annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD), Ardshinbank CJSC and the Dutch entrepreneurial development bank FMO signed a Guarantee Agreement for a credit portfolio worth 20 million US dollars with a term of 7 years.

ArmInfo.During November and December 2021, the entire amount gathered within the framework of “Тhe Power of One Dram” initiative of IDBank and Idram, AMD 9,328,753 was transferred to the “Teach for Armenia” educational foundation, directed to the Nation Builder program. As a result, two schools of Aragatsotn Region have been conducting an education program based on change for two years. The employees of the Bank and Idram visited Melikgyugh village school in Aragatsotn region to sum up the results of the collaboration on the spot.

ArmInfo.Well-known entrepreneur, scientist, philanthropist, founder and director of Flagship Pioneering Noubar Afeyan expressed his readiness to use his capabilities and connections to strengthen the Motherland. He stated  this during a meeting with the Minister of High- Technological Industry of Armenia Mkhitar Hayrapetyan.

ArmInfo. The growth potential of Armenia's GDP generation increased to 5.5-6%. Armenian Finance  Minister Vahe Hovhannisyan assured an ArmInfo correspondent of this on May 14 on the sidelines of the Annual Meeting of the European Bank for Reconstruction and Development in Yerevan.

ArmInfo. The European Bank for Reconstruction and Development (EBRD) is lending EUR10 million to  Armenia to finance the construction of a customs and logistics centre  in the Syunik region. The Bank will also provide a EUR2 million  investment grant via its Shareholder Special Fund to co-finance the  project, the bank's press service reports.

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ArmInfo.

ArmInfo.

ArmInfo. Over the past ten years, the Eurasian Economic Union (EAEU) has transformed into an  important and promising integration association in the international space.  Ambassador of Kazakhstan to Armenia Bolat Imanbayev stated  at the tenth anniversary annual meeting of the Eurasian Expert Club  entitled "Armenia in the EAEU: realities and prospects of Eurasian economic integration."

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ArmInfo.

ArmInfo.Yerevan is set to welcome the 33rd annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD), with Ardshinbank taking the lead as flagship sponsor. The event, a significant fixture among financial institutions, will convene high-ranking delegations from 74 countries, prominent financial and banking experts, and thought leaders of the Armenian banking sector. Scheduled for May 14-16, the forum aims to foster positive impacts and enhance financial markets for the public good.

ArmInfo. 75% of Armenia's exports in Q1 of 2024, were precious and semi-precious stones and metals. An  increase in gold re-exports has been observed since November 2023.  This circumstance contains great risks, because economic growth is currently exogenous, and in the event of a change in any of the  external incentives, as well as a significant decrease in gold re-exports, the Armenian economy will become vulnerable. A similar assessment was made by Associate Professor of the Armenian State University of Economics, economist Aghasi Tavadyan.

ArmInfo. Analyzing data on Armenian state budget revenues for the first quarter of 2024, head of the  ACSES Analytical Center Haykaz Fanyan suggests thinking about increasing the tax burden on jewelry market participants.

ArmInfo.In Armenia, four-month inflation of 0.8% was triggered by food and services, which rose in  price by 1.8% and 0.9%, respectively, while non-food products fell in price by 1.6%. This is not much different from last year's picture, when in January-April 2023 inflation of 0.9% came from an increase in  food prices by 1.6% and an increase in the price of services by 1.1%, with a decrease in the price of non-food goods by 1%. This is evidenced by the data of the RA Statistical Committee.

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ArmInfo.

ArmInfo.

ArmInfo. The short-term windfall impacts of human and  financial relocations on the Armenian economy should be expanded and  sustained, giving it a sustainable effect. This opinion was expressed  by Rector of the Russian-Armenian University (RAU), doctor of  Economic Sciences of the Republic of Armenia and the Russian  Federation, Professor Edward Sandoyan, speaking at the International  Scientific Conference at RAU recently.