ArmInfo.The Armenian dram has shown a steady appreciation against the currencies of the trading partner countries since the beginning of Q2 2022. In July of this year, compared to the  beginning of 2022, the Armenian dram appreciated against a basket of  currencies: - by 19.8% y/y against the dollar, by 21.7% y/y against  the euro, by 32.4% y/y against the Russian ruble. In terms of the  real effective exchange rate, the Armenian dram appreciated by 33.6%  in 2022 and by 40% in June 2023 compared to the beginning of 2022. 

ArmInfo.

ArmInfo.The sharp increase in Armenian exports in 2022 is mainly due to the influence of exogenous  factors and contains significant risks. This opinion was reached by  experts of the LUYS Foundation, who studied the structure of exports  of the Armenian economy for the reporting period, as well as the  possibilities of economic growth in Armenia in the absence of these  factors.

ArmInfo.Fitch Ratings has upgraded Armenia's Long-Term Foreign-Currency Issuer Default Rating  (IDR) to 'BB-' from 'B+'. The Outlook is Stable. This is stated in the message of the agency.

ArmInfo. There is practically no policy aimed at developing high value-added industries in Armenia.  This, in fact, is evidenced by the data of both the RA Statistical  Committee and the list of the largest domestic taxpayers. Doctor of  Economic Sciences, Professor Ashot Tavadyan expressed a similar point  of view in an interview with ArmInfo.

ArmInfo.In the issue of sanctions we are closely in touch and cooperate with the EU special  envoy and the representative of the US, to make sure that we act as a responsible member of the international community. Armenian Prime Minister Nikol Pashinyan stated  in an interview with Agence France-Presse in response to a question about what the Armenian government is doing to ensure that the territory of Armenia is not used by Russia to circumvent sanctions.

ArmInfo.  All sectors positively influence the dynamics of economic growth in Armenia, but the services sector still plays the main role. However, monthly data since the beginning of the year show that services growth is gradually slowing down - this is largely due to last year's strong performance and demand adjustment.  This is stated in the regular Macroeconomic Review published today, prepared by analysts of the Eurasian Development Bank (EDB).

ArmInfo. The INNOPROM -2024  industrial exhibition may be held in Armenia. A similar proposal was  made by tDeputy Prime Minister of the Russian Federation - Minister  of Industry and Trade of the Russian Federation Denis Manturov during  a meeting with the heads of the relevant ministries of Armenia,  Belarus, Kazakhstan and Kyrgyzstan as part of the INNOPROM  exhibition, which takes place on July 10 -13 in Yekaterinburg.

ArmInfo. The Eurasian Economic  Commission (EEC), together with the relevant ministries of the EAEU  countries, is developing a mechanism for financial assistance to  industrial cooperation. This was announced by Minister for Industry  and Agro-Industrial Complex of the EEC Artak Kamalyan at a meeting of  the Council on Industrial Policy of the EAEU, held within the  framework of the "INNOPROM" international exhibition in  Yekaterinburg.

ArmInfo.

ArmInfo.  The Ministry of Finance of  Armenia proposes a gradual phasing out of the income tax refund  system for mortgage loans throughout Armenia. The draft law is  submitted for public discussion on a single portal of legal acts.

ArmInfo. 

ArmInfo. In the present-day  geopolitical conditions proper transparency needs to be maintained to  prevent Russia and Belarus from breaking the sanctions, Grzegorz  Piechowiak, Secretary of State in the Ministry of Economic  Development and Technology of Poland, stated at the 7th meeting of  the Armenian-Polish Commission for Economic Cooperation.  

ArmInfo. The economies of the countries of the Eurasian Economic Union (EAEU) maintain positive trends. Iya Malkina, assistant to the chairman of the Eurasian Economic Commission (EEC), stated during a briefing on June 26.

ArmInfo. A 12.5% increase in economic activity was recorded in Armenia this January-May as compared with last January-May, with high growth in exports and imports.  A 13.7% increase in economic activity was recorded this May against last May, with a 7.7% increase this May alone (against a 6.1% growth last May and a 3.4% growth this April.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.

ArmInfo.