ArmInfo. In light of the sanctions against Russia, the Ministry of Economy of Armenia intends to intensify efforts to diversify exports, in particular, to increase  the volume of supplies to the Iranian, Arab, and Chinese markets.  Armenian Minister of Economy Vahan Kerobyan stated this to  journalists during a briefing in the government.

ArmInfo. The Russian-Ukrainian war and sanctions against the Russian Federation have caused great volatility in the region's financial markets. In terms of the  possible impact on Armenia's economy and financial system, the  Central Bank has collected possible potential questions and tried to  answer them. This is mentioned in the message of the Central Bank of  Armenia, presenting the answers to the 8 most important questions.

ArmInfo.According to the Central Bank's expectations, the inflationary impact from the  external sector on the Armenian economy still remains. Head of the  Central Bank of the Republic of Armenia Martin Galstyan stated this  during a press conference convened on February 1 regarding the next  increase in the refinancing rate.

ArmInfo. The Central Bank of Armenia forecast inflation to approach the target threshold (4%, +/-1.5) by the end of 2022. Chairman of the Central Bank of Armenia  Martin Galstyan said this during the press conference on raising the  refinancing rate on February 1, forecasting 5-5.5% inflation for  2022.

ArmInfo. The Central Bank of Armenia raised the refinancing rate by 0.25 percentage points, setting it at 8%. As the press service of the Central Bank of Armenia  told ArmInfo, this decision was made on February 2 at a meeting of  the Board of the Central Bank of Armenia.

ArmInfo.By the end of 2022, inflation in Armenia will decrease to 4 +/-1.5%. Hovhannes Khachatryan, candidate for the post of Deputy Governor of the Central  Bank of Armenia, stated this on January 18 at the discussions in the  National Assembly.

ArmInfo. The Executive Board of the International Monetary Fund (IMF) concluded the 2021 Article IV consultation as well as completed the fourth and fifth reviews of  the Republic of Armenia's economic program supported by a three-year  IMF Stand-By Arrangement (SBA). The completion of these reviews  allows the authorities to draw SDR 51.43 million (about US$ 72  million), according to an IMF report of December 17. 

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ArmInfo.According to the revised forecast for 2021 by the Central Bank of Armenia (CBA), 4.2% GDP growth is expected in Armenia against the previously forecast  5.4%, with inflation near 8.4% by the end of this year. According to  the revised CBA forecast, 5.3% GDP growth is expected next year, CBA  Chairman Martyn Galstyan told a news conference on Tuesday.

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ArmInfo. EDB analysts note that the active phase of the region's economic recovery will complete this year, which is expected to result in a 4% increase in the countries'  aggregate GDP. This is stated in the Bank's Macroeconomic Outlook for  2022, published yesterday.

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ArmInfo.From January 1, 2022, the water tariff for consumers in Armenia will be increased by about 20 drams. At the same time, the RA authorities plan to keep the  current tariff for socially vulnerable groups of the population.  Chairman of the Public Services Regulatory Commission (PSRC) Garegin  Baghramyan told reporters in the parliament.

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ArmInfo.On November 1-4, Deputy Minister of Economy of Armenia Arman Khojoyan, in charge of the agricultural sector, will visit the capital of Ukraine Kiev to  discuss mechanisms for controlling prices for basic-needs products  and conclude futures contracts.

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ArmInfo.If the negotiations of the Armenian authorities with the "Veolia Djur" company are concluded successfully, from January 1, 2022, the water tariff can be increased  by only 20 drams - up to 200 drams per 1 cubic meter, instead of the  223.7 drams offered by the single operator of water supply.  Head of  the Public Services Regulatory Commission (PSRC) of Armenia Garegin  Baghramyan stated this on October 20 in an interview with journalists  referring to the company's application to increase the water tariff.

ArmInfo. Government of Armenia negotiates with a single operator of the water supply system -company "Veolia Djur" for the revision of the lease agreement in order to  form a more stable pricing policy for the next 10 years. This was  stated by the head of the Public Services Regulatory Commission  (PSRC) of Armenia Garegin Baghramyan on September 29 in an interview  with reporters referring to the company's application to increase the  water tariff.

ArmInfo. The accelerated growth of non-performing loans (NPL) continues in the banking system of Armenia, pushing profit, and thereby depriving capital buffers of  the opportunity to replenish.

ArmInfo.Inflation in Armenia is largely driven by supply rather than demand, as well as by the recent increase in vegetable prices (by 66.4% per annum in  August), which in turn is due to an increase in export supplies of  vegetable crops.