ArmInfo. The agricultural budget of Armenia in 2023 amounted to 37 billion drams, but expenses reached 47 billion drams. Minister of Economy of Armenia Vahan Kerobyan stated, presenting the results of the 2023 economic year to the Prime Minister of Armenia Nikol Pashinyan.

ArmInfo. After the Armenian government assumes most of the financial obligations of the government and citizens of Nagorno-Karabakh, the public debt to GDP will increase by 2.4 percentage points to 49.4%. This was stated by RA Minister of Finance Vahe Hovhannisyan on December 22, presenting the draft decision in parliament.

ArmInfo. By the end of  2023, the poverty level will decrease significantly in Armenia.  Minister of Economy Vahan Kerobyan expressed a similar opinion in an  interview with the Public Television of Armenia.

ArmInfo.For the second year in a row, the Armenian economy will become the leader in terms of economic growth among the countries in the region. According to estimates by the Eurasian Development Bank (EDB), the country's GDP growth at the end of 2023 will be 8.3% (against the previously projected 7.5%). Alexey Kuznetsov, Head of EDB Research Department, announced on Thursday in Almaty, presenting the EDB Macroeconomic  Outlook 2024-2026.

ArmInfo.Ameriabank CEO Artak Hanesyan’s interview with Global Finance magazine

ArmInfo. The International Monetary Fund (IMF) forecasts per capita GDP growth in Armenia in 2023 to $8,029 (from actual $6,569 in 2022), with further y-o-y increases to $8,352 in 2024 and $8,967 in 2025. IMF reports, also providing an improved forecast for Armenia's GDP growth for 2023 from the previous 5.5% to an updated 7%, with a slowdown to 5% in 2024 and to 4.5% in 2025.

ArmInfo. The International Monetary Fund (IMF) has opened Armenia's access to a loan of approximately $24.4 million (SDR 18.4 million) under the Stand-by Agreement (SBA), bringing the total access amount to approximately $73.3 million (SDR 55.2 million).  also providing an improved forecast for Armenia's GDP growth for 2023 from the previous 5.5% to an updated 7%, with a slowdown in 2024 to 5% (as previously expected). In terms of inflation, the IMF points to its rapid decline in Armenia, and predicts a return to the target threshold of 4% by mid-2024 and stabilization near this level.

ArmInfo.The Central Bank of Armenia has once again improved its  GDP growth forecast for 2023 -  from the previous 7.2% to an updated 8.3%. At the same time, thechief bank revised its GDP expectations for 2024 - towards higher growth of 6.1% (against the previously forecasted 5.6%). Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated on December 12 during a press conference regarding the next reduction in the refinancing rate from 9.5% to 9.25%.

ArmInfo.

ArmInfo. The Armenian authorities expect that by the end of 2023, the share of public debt  in the country's GDP will be 47% instead of the previously predicted figure of 49%, Armenia's Deputy Minister of Finance of Armenia Eduard Hakobyan stated in Parliament. 

ArmInfo. By November 1, 2023, Armenia's public debt exceeded $11.1 billion (4.5 trillion drams),  having increased by 10% year-on-year (the same as a year ago). 

ArmInfo.Economic growth for 2023 is the result of continuation of positive factors from the previous year. However, if at the beginning of the year economic growth was quite high, in the second half of the year, starting from June-July, the growth rate of economic activity slowed down, amounting to about 6%. If the downward trend in growth continues, the 7% target could be in jeopardy in 2024, leading to budgetary difficulties as tax revenues also decline, according to an analysis by the Luys foundation. 

ArmInfo. The Armenian Parliament has approved the main financial document for 2024. 71 MPs voted for  its adoption, 25 MPs voted against.  According to the document, in 2024, in conditions of ensuring 7% GDP growth, the revenues of the state treasury of Armenia will amount to 2 trillion 723 billion drams  (25.9% of GDP), and expenses - 3 trillion 206 billion drams (30.5% of GDP).

ArmInfo.Armenian Prime Minister Nikol Pashinyan assures that the Crossroads of the Peace project is  bolstered by economic calculations.

ArmInfo. In 2024, it is planned to significantly increase the Reserve Fund of Armenia's  government, RA Minister of Finance Vahe Hovhannisyan stated on December 6 at parliamentary hearings on the final version of the country's draft state budget for next year.

ArmInfo. There are all the prerequisites for bringing the state budget deficit of Armenia to a  level of 4.6% of the country's GDP, RA Minister of Finance Vahe Hovhannisyan stated at a parliamentary hearing on the 2024 draft state budget. 

ArmInfo.Armenia's Parliament is discussing the final version of the 2024 draft budget. 

ArmInfo.In 2024, the expenditures of the state treasury of Armenia, compared with the approved figure for this year, will increase by approximately 562.5 billion drams, and will amount to more than a third of GDP - 3  trillion 206.5 billion drams (30.5% of GDP).

ArmInfo.

ArmInfo.The profits of Armenian banks, which sharply increased over the past year by leaps  and bounds in foreign exchange transactions, are beginning to slow  down significantly in growth rates.