ArmInfo.Armenia is amending the EUR 5 million loan agreement Yerevan Metro Rehabilitation Project  Phase II signed with the European Investment Bank (EIB) on May 10, 2013. 

ArmInfo. Chief of Staff of the Prime Minister Arayik Harutyunyan received Oleksandr Pavlyuk,  Senior Political Adviser at the European Bank for Reconstruction and Development (EBRD).

ArmInfo.Armenia's GDP in Jan-Sept 2023 slowed down in y-o- y growth from 21% to 12%, almost  returning to the rate of two years ago (11.1% in the same period of 2021). At current prices, the absolute value of GDP for 9 months of this year amounted to 6.5 trillion drams ($16.5 billion), against last year's 5.8 trillion drams ($14.2 billion). Of this amount, 40% or 2.6 trillion drams ($6.6 billion) were provided in Q3 2023, against 41.4% or 2.4 trillion drams in Q3 2022, according to the data of the RA Statistical Committee.

ArmInfo. Armenia's Minister of Finance Vahe Hovhannisyan hosted a delegation led by Mr Kazuhiko  Koguchi, Secretary General of the European Bank for Reconstruction and Development (EBRD). Attending the meeting were also Ms Stefania Galbiati Ball, Head, Annual Meetings, Protocol and Event Management  Unit at EBRD, and Mr George Akhalkatsi, Head of EBRD Yerevan Resident Office. 

ArmInfo.Armenia's banking system is making half-hearted attempts to reanimate corporate lending, which snowed a decline last year, against a backdrop of accelerated growth in private loans, which ensure acceptable return on and diversification of assets. However, such activity requires special attention needed for preventing delinquent loans from turning into risky ones.  

ArmInfo.Armenia is amending its financial agreement with the European Investment Bank (EIB) aimed at  restoring the water supply network in the city of Yerevan.

ArmInfo. About a thousand investors became shareholders of Team Telecom Armenia. According to  the company's press service, the initial public offering of 40 million shares of Team Telecom Armenia worth AMD 8.2bln was successfully completed. Ameriabank CJSC acts as market maker. 

ArmInfo. In 2023, Armenian economic growth is projected at 7.2%, and next year it will be 5.6%.  Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated  on October 31 during a press conference.

ArmInfo.Amundi-Acba Asset Management CJSC made a major investment from the assets of the Balanced and Conservative Pension Funds under its management in the equities of Telecom Armenia OJSC by participating in the initial public offering.

ArmInfo. Armenian banks are reviving their credit policy after "resting on immigrants' laurels".  This must be done quickly and competently in order to maintain profit growth and avoid its serious decline.

ArmInfo. Prime Minister Nikol Pashinyan believes that the Armenian government is capable of managing crises and ensuring high economic growth. Pashinyan announced on October 12 at a government meeting.

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ArmInfo. According to the EBRD-prepared report "Regional Economic Prospects in the EBRD  Regions", in 2023, economies in Eastern Europe and the Caucasus have been adjusting to the extreme shock to their economies caused by the war on Ukraine. 

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ArmInfo. The European Bank for Reconstruction and Development (EBRD) has further improved its  GDP growth forecast for Armenia for 2023 from the previous 5% to an updated 6.5%, expecting a slowdown in 2024 to 4.5% (versus the previously announced retention at 5%). And this is the highest GDP  growth that the EBRD expects in 2023 for the Eastern Europe and Caucasus region. This forecast is given for 2023-2024, taking into account geopolitical events, which are an important source of risks  of slowing economic growth.

ArmInfo. As of August 31, 2023, Armenia's national debt totaled $11.387bln  - a 7% increase  this January-August (a $749.2mln increase), and a 5% or AMD 208.5bln increase. The period under review saw further AMD appreciation against the USD - AMD 480/$1 to AMD 385/$1.  

ArmInfo.The Central Bank has improved its forecast for 2023 for Armenia's GDP growth from the  previous 6.9% to an updated 7.2%. The new forecast is driven by  strong growth in the construction and services sectors.

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ArmInfo. A delegation of the International Monetary Fund (IMF) led by Mr Jihad Azour, Director of the IMF Middle  East and Central Asia Department, and Ms Iva Petrova, IMF Mission Chief for Armenia, was on a visit to Armenia recently. In an interview with Mr Emmanuil Mkrtchyan, CEO, ArmInfo News Agency, Mr Jihad Azour said that the IMF delegation visited Armenia on the occasion of the 30th anniversary of the Armenian national currency  and foundation of the Central Bank of Armenia, landmarks in Armenia's history.

ArmInfo.The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are helping improve access to finance for Armenian micro, small and medium-sized sized enterprises (MSMEs) through Acba Bank.