ArmInfo.

ArmInfo.Vahe, a director by profession, has founded a snail breeding farm in Byurakan for the snais imported from Europe. It is the first in Armenia; special conditions were created for the snails.

ArmInfo.Armenia's Minister of Economy Vahan Kerobyan hosted Ms Carolin Geginat, WB  Country Manager for Armenia.

ArmInfo. On August 23, the Board of the Eurasian Economic Commission decided to establish and distribute tariff quotas for a number of types of meat products and  whey for 2023. This was reported by the press service of the EEC.

ArmInfo. The Armenian government has revealed the main directions of tax policy for the next three years. The document entitled "Tax Revenue Management Program for  2022-2025", signed by Armenian Prime Minister Nikol Pashinyan, allows  us to assess the scale of the expected changes.

ArmInfo. The share of the corporate component continues to prevail over the retail one in the premium portfolios of Armenian insurers in H1 2022, - 58.2% (19.7  billion drams) against 41.8% (14.1 billion drams), which is very  close to the data of a year ago - 57% against 43% respectively.  

ArmInfo.The total net profit of insurance companies (ICs) in Armenia for H1 2022 reached 2.3 billion drams ($5.6 million), with a y-o-y  19-multifold increase, with a  quarterly decline of 13.1%, against a y-o-y decline of 2-fold and a  quarterly increase of 2.5-fold in comparable periods in 2021. 

ArmInfo.Chaired by Prime Minister Nikol Pashinyan, the work of the session of the Economic Policy Council under the Prime Minister of the Republic of Armenia was held  August 6 and 7, at the Dilijan educational and research center of the  Central Bank of Armenia.

ArmInfo. During the meeting with the Deputy Prime Minister of Armenia, Mher Grigoryan, the Chairman of the Management Board of the Eurasian Development Bank  (EDB), Nikolai Podguzov, presented the implementation of the Bank's  2022-2026 Country Strategy in the republic. The parties also  discussed current and possible projects. This was reported by the  Bank's press service.

ArmInfo.

ArmInfo. The official data on the agricultural sector for the first half of 2022 do not reflect the real situation, Armenia's Minister of Economy Vahan Kerobyan said in  an interview with Armenpress. 

ArmInfo.The Eurasian Economic Commission has approved Armenia's indicative balance of a number of agricultural products, particularly wheat, barley, corn and sunflower  oil, the RA Ministry of Economy reports. 

ArmInfo.Manufacturers-exporters, providing 20% of Armenia's GDP, are going through extremely difficult times. The sharp revaluation of the dram (from 470-480 drams at the  end of February and an increase to 520 in early March with a decline  to about 400-410 drams per $ 1) became a real test for exporters of  goods and services, as well as for investors and small local  producers.

ArmInfo.The Russian ruble began to rapidly depreciate against the US dollar at the end of February amid the Russian-Ukrainian conflict and Western sanctions. Its course rose  to 120 rubles.

ArmInfo.The economic situation in the member states of the Eurasian Development Bank (EDB) has a multidirectional development. If the economies of Russia and Belarus, under the strong pressure of sanctions, experienced a decrease in business activity,  then economic activity in Kazakhstan, Armenia and Kyrgyzstan, showed  strong dynamics.

ArmInfo. On June 30, the Armenian government made a number of changes to the program "Subsidizing interest rates on loans provided for the purchase of agricultural raw  materials" and extended the term for concluding contracts for the  purchase of fruits and vegetables by 4 months.

ArmInfo. Armenia and Russia intend to expand cooperation in the agricultural and industrial fields. According to the press service of the government, this was  announced during the meeting between Deputy Prime Minister of Armenia  Mher Grigoryan and Deputy Speaker of the State Duma of the Russian  Federation Alexey  Gordeyev , who arrived in Armenia on an official  visit. 

ArmInfo. The business community of Armenia, represented by large business associations, called on the economic authorities to take urgent measures to save the businesses that have suffered greatly from the sharp revaluation of the national currency.

ArmInfo.The Eurasian Economic Union is gradually completing the stage of formation and moving into the stage of unlocking its integration potential in the interests of  creating a common economic space, sustainable economic growth,  strengthening competitiveness and effectively promoting its economic  interests in the international arena. Prime Minister of Armenia Nikol  Pashinyan stated this on June 21 at an expanded meeting of the  Intergovernmental Council of the EAEU countries in Minsk.

ArmInfo.The positive dynamics of the development of the agro- industrial complex in the countries of the Eurasian Economic Union continues.  Minister in charge of  Industry and Agriculture of the Eurasian Economic Commission (EEC)  Artak Kamalyan stated. In particular, he said that in the first  quarter, agricultural production in the EAEU as a whole increased by  1.6%.