ArmInfo. The considerable decline in import (by 26.5%), which resulted in the drop of the domestic commodity turnover by 8% to $4.8 bln, had a negative effect on the growth rates of economic activity in Armenia, economist Vilen Khachatryan said at a press conference on January 27. He added that in absolute terms import dropped by $1.2 bln to $3.2 bln versus $4.4 bln a year before.

ArmInfo. Economic activity in Armenia grew by 3.1% for 2015 amid 20.4% rise in December alone versus 3.9% rise for 2014 (19.6% growth in Dec 2014). In Jan-Dec 2015, the key drivers of economic growth were agriculture, industry and services.

ArmInfo. On January 21 Ameriabank signed two largest in the region deals with the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC), which is a member of WB. The Chairman of the Board of Directors at Ameriabank Andrew Mkrtchyan and Nick Tesseyman, EBRD Managing Director, Financial Institutions signed the first deal. The second deal with IFC was signed by Andrew Mkrtchyan and Jan van Bilsen, IFC Regional Manager for the South Cacuasus. 

ArmInfo.  The World Bank does not plan to revise its forecast for Armenia's GDP growth by 2.2%, related to revision of its forecast for Russia's GDP to 0.7% drop in 2016 WB Country Manager for Armenia, Ms. Laura E. Bailey told ArmInfo's correspondent. 

ArmInfo. On December 22, the World Bank Board of Executive Directors approved a US$55 million loan for the Local Economy and Infrastructure Development Project (LEIDP) for Armenia to improve infrastructure services and institutional capacity for increased tourism contribution to the local economy in five selected regions of the country. Laura E.  Bailey, World Bank Country Manager for Armenia, told a news conference today that total financing of the project is US$68 million, of which US$13 million will be the Armenian Government's contribution. The World Bank will provide a US$55 million IBRD loan of variable spread with a 14.5-year grace period and the total repayment term of 25 years.

ArmInfo.The World Bank does not think Armenia's public level has reached a critical level, WB Country Manager for Armenia, Ms. Laura E. Bailey said in response to ArmInfo's questions about the negative consequences of the accumulated public debt for the country.

ArmInfo. VTB Bank (Armenia) has funded the construction of the "Klubnichnaya Polyana" LLC energy efficient greenhouse facility. The facility occupies an area of 3 hectares in Nor Geghi village (Kotayk province of Armenia). The press office of the Bank has told ArmInfo that the greenhouse will grow strawberries by means of up-to-date technologies that secure high yield and high quality of the product. 

ArmInfo. In Jan-Sept 2015 versus Jan-Sept 2014, the inflow of transfers from Russia to Armenia dropped by 38% to $750 mln. As a result, the share of Russian transfers in the total inflow dropped from 75% to 63%. This reduced the total inflow of transfers to Armenia by 27% to $1.2 bln. The data of the Central Bank of Armenia (CBA) show that the transfers from the United States grew by 19% to $129.4 mln (11% of total inflow versus 7% a year before).

ArmInfo. The ex-director of the Nairit Plant, Karen Israelyan, has told ArmInfo that there are serious investors willing to invest in reactivation of the plant. Israelyan abstains from naming the Russian and Slovak investors, but he says that they have expressed a desire to invest in reactivation of the plant. "Two Russian companies and a Slovak financial group have contacted me and said that they seek to invest $60 million in a project on re-launch of the plant," says Israelyan.

ArmInfo.  Countries in the Caucasus (Armenia, Azerbaijan, Georgia) continue to be influenced by the regional economic and security challenges but are expected to sustain growth in 2015-16 according to the EBRD's latest economic outlook.

ArmInfo. Armenia has sharply improved its positions in WB Doing Business 2016 report, taking the 35th place out of 189 countries. The country neighbors with Japan (34th place) and Czech Republic (36th place) in the report. 

ArmInfo. Armenia improves its positions in WB Doing Business 2016 report by 10 points, taking the 35th place out of 189 countries.  Armenia has been the leader among the CIS countries in the given rating for a second year already, Minister of Economy Karen Chshmarityan briefed on media on October 29. 

ArmInfo. Armenian Government has no reasons to doubt the results of the audit conducted in Nairit plant by the World Bank, Yervand Zakharyan, Minister of Energy and Natural Resources, announced from the National Assembly rostrum on October 28. According to him, currently the Yerevan Nairit Plant is idle. The Armenia's Government is interested in reactivation of Nairit Chemical Plant if the potential investor is found. According to the World Bank's experts, re-launch of the plant is inexpedient.  But if an investor is found, the executive power is ready to start negotiations.  The Minister emphasized that CIS Interstate Bank continues to settle procedure issues to lift the attachment of the plant property. According to the received information, during upcoming two weeks the Bank will make final decision, after which the shares of the plant will pass to the state.  Only after this happens, the Government will announce its further steps on Nairit issue.

ArmInfo. In 2015 the GDP growth rates in Armenia will slow down to 2,25%, according to the International Monetary Fund's Regional Economic Outlook for Middle East and Central Asia. The survey was released on October 21 in Dubai and on October 23 in Almaty.  

ArmInfo. The employees of the Nairit Plant will fight for reactivation of the plant and for cancellation of the "illegal" agreement of assignment of claims in respect of penalties and fines from their wages to Nairit-2 enterprise. The Plant's employees said at today's press conference that they are going to address the relevant letter to the President of Armenia.

ArmInfo. For the countries with strong economy an economy growth from 1% to 3% is fair enough for ensuring adequate living standards, although for Armenian citizens the change will be considerable only if the economy growth is higher than 9%, Gagik Makaryan, Chairman of the Republican Union of Employers of Armenia, told journalists on October 16.

ArmInfo. European Bank for Reconstruction and Development (EBRD) will upgrade its forecast for Armenia's GDP growth by positive 1-3% for 2015. Mark Davis, Head of EBRD Yerevan Resident Office, expressed this preliminary estimation at the press conference on October 14. He recalled that according to the forecast made in May, 1.5% slowdown was anticipated, and this was the most pessimistic forecast compared to the anticipations of other international organizations. He added that the final forecasts of Armenia's macroeconomic indicators will be published at the end of October.

ArmInfo. Monetization in Armenia has increased from 15%-20% to 38% over the last 5 years, while no other CIS country can make boast of this. In the same period, bank loans and deposits increased 20% per year, Nerses Yeritsyan, the deputy head of the Central Bank of Armenia (CBA) said introducing the monetary policy for 2015 in the parliament, on October 6.  

ArmInfo. A new study released today by IFC, a member of the World Bank (WB) Group, shows that improvements in productivity, output quality, and food safety standards, combined with market and product diversification, can increase the competitiveness of Armenian fish products and lead to greater access to export markets.As the WB press-service informed ArmInfo, at the request of Armenia's Ministry of Economy, the IFC Armenia Investment Climate Reform Project has produced a sector review to pinpoint market imperfections and offer recommendations.

ArmInfo. International Monetary Fund (IMF) has revised Armenia's 2015 GDP growth up to 2,5% with further slow down up to 2.2% in 2016, Mark Horton, IMF Mission Chief to Armenia said in a press-conference held on September 25. He noted that in 2016 a negative influence of the external factors will remain on the Armenia's economy. Besides, he thinks, that slow rates of bank crediting of the real sector and comparatively high interest rates will play their role.