ArmInfo. Armenia's Minister of Economy Vahan Kerobyan held a meeting with member of the American Chamber of Commerce in Armenia (AmCham) and of Armenia's business community to sum up the year 2023 and discuss programmes of next year.

ArmInfo. The Central Bank of Armenia forecasts a decline in export and import volumes by 9.5% and 7.3% for 2024, after a sharp slowdown in growth in 2023 to 22.1- 30% (from 77.7-63.5% in 2022) . But according to the Central Bank's forecast, both exports and imports will grow by 2.6% and 3.2% in 2025. This is noted in the Central Bank's Monetary Policy Program (MPP) for Q4 2023, published at the end of December, where GDP growth expectations for 2023 indicate a less noticeable slowdown in rates to 8.3% (from 12.6% in 2022) and further to 6.1% in 2024 and 5.7% in 2025.

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ArmInfo. In 2023, 1,716 organizations and private  entrepreneurs submitted applications for tax benefits in the IT sector, of which about 80% were approved. In total, since 2015, 4,133 IT companies have received tax benefits.

ArmInfo. The experience  gathered by Armenia over the past 2 years in the field of re-export  with Russia may be beneficial for Armenia in the context of  developing relations with Iran. Aram Safaryan, director of the Center  for Russian Studies at Yerevan State University  and coordinator of  the Eurasian Expert Club, said this at a press conference Tuesday.

ArmInfo. In Armenia, the price  index of industrial products decreased in January-November 2023  compared to the same period in 2022 to 101.7% from last year's  102.9%. This was observed against the backdrop of a slowdown in  annual growth in the industrial sector from 8.4% to 2.1% - to 2.4  trillion drams ($6.2 billion).

ArmInfo. In Armenia, the  growth of economic activity in January-November 2023 slowed to 9.4%  per annum (from last year's 14.4%), accompanied by a very noticeable  slowdown in the upward dynamics of exports and imports.

ArmInfo.

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. Benefits for Armenian  IT sector startups have been extended for another year, until the end  of 2024. The decision was made at a Cabinet meeting on December 21.

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ArmInfo. Armenia will extend the ban on scrap metal exports for six months, which expires on January 28, 2024. A resolution extending the ban until July 28, January 2024 was adopted at a meeting of the government of the republic on December 21.

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ArmInfo. Significant changes in the industry are expected only next year. On December 20, Armenian Minister of Economy Vahan Kerobyan told reporters on the sidelines of a press conference on Armenia's participation in the international Expo 2025 Osaka, Kansai, Japan.

ArmInfo. The period of driving of cars with foreign license plates will be limited in Armenia, except for the EAEU countries. Armenian Minister of Economy Vahan Kerobyan announced during a briefing on December 20, answering a question regarding customs clearance of cars with Georgian license plates.

ArmInfo. The "Electric Networks of Armenia" CJSC is waiting for the decision of the Georgian government to join the project for transporting electricity to European countries, Karen Darbinyan, Chairman of the Board of Directors, told ArmInfo.

ArmInfo.

ArmInfo. Trade turnover between Armenia and the EAEU countries increased by 41% this year. Armenian Minister of Economy Vahan Kerobyan stated  on December 18 during a briefing for journalists. "We think that trade turnover will also grow in the coming years. For all that, our government is making great efforts and investing a lot to diversify foreign trade," he said.

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ArmInfo.