ArmInfo. In 2021-2022, a fivefold increase in money transfers from Russia to Armenia was recorded - from $867 million to $4,385mln. However, the reasons for opening accounts in Armenia were, among other things, gaining access to international payment systems, Russian Vice-Premier Alexey Overchuk stated this in an interview with Expert magazine, speaking about the advantages of the Eurasian Economic Union (EAEU) over the EU.

ArmInfo.

ArmInfo. In order to fully use transit opportunities with Georgia, it is necessary to enter into bilateral negotiations in order to eliminate those measures that are mutually applied to cargo carriers due to the fault of the Armenian side. A similar opinion was expressed by economist Tigran Jrbashyan, presenting the results of the "Ameria" company's "Alternative Wine Export Markets" study.

ArmInfo. According to TasteAtlas, a guide to national dishes of the world, which contains authentic recipes, reviews from critics and research articles about popular ingredients and food, Armenia took 69th place among 100 countries of the world. Armenian pomegranate, apricot, cheeses of "Chechil", "Lori", matsun, etc. were identified as the highest rated products.

ArmInfo.

ArmInfo.The World Bank has improved its 2023 GDP growth forecast for Armenia from the previous 4.4% to an updated 7.1% (against the actual 12.6% growth in 2022), now expecting a slowdown to 4.7% in 2024 and to 4.5% in 2025 (versus previously forecasted y-o-y acceleration to 4.8% and 5%). This is noted in the January Global Economic Prospects report published by the World Bank.

ArmInfo. The ferry service has been operating for several months, but, according to our  assessment, it has not generated sufficient interest among exporters and importers. Armenian Minister of Economy Vahan Kerobyan announced during a press conference.

ArmInfo.

ArmInfo. Armenia will close 2023  with GDP growth in the range of 8- 8.5%, instead of the 7% planned by  the state budget and the 7.2% expected by the budget for 2024. At the  same time, the country's GDP generation potential, as before, does  not exceed 5%, Armenia's former minister of finance Vardan Aramyan  told ArmInfo. 

ArmInfo. In 2024, it will be  possible to import 7,400 electric vehicles into Armenia with zero  customs duty. The decision to apply tariff benefits to electric  vehicles imported into the territory of the Republic of Armenia was  made on December 28 at a government meeting.  The rationale for the  decision states that during the Eurasian Intergovernmental Council,  an agreement was reached to extend the exemption for the import of  electric vehicles for another two years. In Armenia in 2024-2025, a  tariff quota will be established for 8,000 vehicles with an electric  motor during the year. The remaining 600 units of electric vehicles  are planned to be kept in reserve.

ArmInfo.

ArmInfo. Labor productivity  in Armenia at the end of 2023 will be $9.8 per hour, Armenia's  Minister of Economy Vahan Kerobyan told Business FM. 

ArmInfo. The representative of the Republic of Kazakhstan,  Bakytzhan Sagintayev, became the new chairman of the board of the Eurasian Economic Commission  (EEC). According to the EEC press service, the corresponding decision was made yesterday at a meeting of  the Supreme Eurasian Economic Council in St. Petersburg.

ArmInfo. The experience  gathered by Armenia over the past 2 years in the field of re-export  with Russia may be beneficial for Armenia in the context of  developing relations with Iran. Aram Safaryan, director of the Center  for Russian Studies at Yerevan State University  and coordinator of  the Eurasian Expert Club, said this at a press conference Tuesday.

ArmInfo. Armenia will remain leader in terms of economic growth in the Eurasian Economic Union (EAEU) next year, according to a forecast by the Eurasian Development Bank (EDB).

ArmInfo. The EAEU and Iran signed a full-scale free trade agreement.

ArmInfo. The period of driving of cars with foreign license plates will be limited in Armenia, except for the EAEU countries. Armenian Minister of Economy Vahan Kerobyan announced during a briefing on December 20, answering a question regarding customs clearance of cars with Georgian license plates.

ArmInfo.

ArmInfo. Trade turnover between Armenia and the EAEU countries increased by 41% this year. Armenian Minister of Economy Vahan Kerobyan stated  on December 18 during a briefing for journalists. "We think that trade turnover will also grow in the coming years. For all that, our government is making great efforts and investing a lot to diversify foreign trade," he said.

ArmInfo.