ArmInfo.The overall growth rates of Armenia's international trade turnover for 2023 are marked by unprecedented achievements, however, the structure of exports and imports, unfortunately, indicates the presence of significant imbalances and shifts containing significant long-term macroeconomic risks, Doctor  of Economy Aghasi Tavadyan told ArmInfo. 

ArmInfo. The main driver of economic growth in Armenia in 2024 may be the utilization of the  country's competitive advantages in the context of using the opportunities of the free economic zone between Iran and the EAEU. A similar opinion was expressed by Tatul Manaseryan, Doctor in Economics, Professor, Head of the Alternative Research Center, member of the Eurasian Expert Club during a press conference on February 20.

ArmInfo. Armenia's GDP growth slowed down to 8.7% in 2023 (from 12.6% in 2022), amounting to 9.503  trillion drams ($24.2 billion). The GDP deflator index also decreased - to 102.8% from 108% in 2022, according to the data of the RA Statistical Committee published on February 20.

ArmInfo. During his working visit to Iran, Deputy Minister of Economy of Armenia Narek Teryan  held a number of meetings with officials of the Islamic Republic of Iran (IRI).

ArmInfo. Global economic growth will slow, according to the Macroeconomic Outlook 2024-2026 by  the Eurasian Development Bank (EDB). 

ArmInfo.The baseline scenario projects Armenian GDP growth at 5.7% in 2024 and 5.3% in 2025. Inflation could accelerate to  3.6% in  2024 amid continued elevated domestic demand, a moderate weakening of the national currency, and the ongoing cycle of refinancing rate reductions, according to the Macroerconomic Outlook by the Eurasian Development Bank (EDB). 

ArmInfo.The Armenian Card CJSC has announced its plans to stop operating the arca.am  application. 

ArmInfo.Jermuk mineral water has been exported to Russia since 2001, gradually increasing the volume from 350,000 liters to 15,273,000 liters per year, and each imported batch complies with the technical regulations of the Eurasian Economic Union, reads an official statement by the Food Safety Inspection Authority of Armenia. 

ArmInfo. At the end of 2023, 4.4 million technical (synthetic) and natural, rough and processed diamonds were  exported from Armenia, almost twice as much as a year ago. Arevik Margaryan, Head of the Department of Strategic Sector of the Ministry of Economy, informs.

ArmInfo. "The emphasis in the export strategy must be placed on markets that are not yet open  to us," Armenian Minister of Economy Vahan Kerobyan stated during a working discussion of the results of the analytical report on the export strategy for 2025-2030, developed with the support of the US Agency for International Development (USAID).

ArmInfo.The impact of re-exports on GDP growth in 2022 was about 1%, and in 2023 - even  lower, which was associated with changes in the sanctions environment, a new reality replacing traditional directions, Deputy Minister of Economy Rafael Gevorgyan TOLD Armenia's Public TV. 

ArmInfo. "We communicate with our cargo carriers on a daily basis, and the problem is not so  serious; companies can adapt to new requirements," Armenian Minister of Economy Vahan Kerobyan stated during government hour in Parliament, answering a question about the situation in Upper Lars in  view of Georgia's new requirements regarding restrictions on the number of tanks on vehicles. He emphasized in this regard that, of course, manufacturers are unhappy, but there are solutions.

ArmInfo. By the end of 2023, for the first time, Armenia's foreign trade turnover will exceed 110%  of the country's GDP, and the negative balance of foreign trade will approach zero. Armenian Minister of Economy Vahan Kerobyan stated on February 6 at a plenary session of Parliament.

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ArmInfo.In Armenia, state duties will be applied on exported gold, platinum and palladium.

ArmInfo. The extension of high rates of state duties on exported ferrous and non-ferrous metals  in Armenia for six months will allow increasing the volume of metallurgical production,  Minister of Economy Vahan Kerobyan stated on February 6 at the plenary session of the National Assembly of the Republic of Armenia, presenting the amendments to the law "On State Duty" in the second and final reading.

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