ArmInfo.The sharp increase in capital expenditures announced by the Armenian government in 2023  threatens to become "a manifesto of good wishes". The experts of the LUYS Foundation, who analyzed the report on the execution of the state budget of the Republic of Armenia for H1 2023, reached this conclusion.

ArmInfo.This January-July,Armenian-Russian trade recorded a 70% growth, up to $3.7bln, with Armenia's exports to Russia totaling $2bln and Russia's exports to  Armenia, $1.7bln, Armenia's Minister of Economy Vahan Kerobyan stated  at a business lunch attended by Armenian and Russian businessmen.  

ArmInfo.

ArmInfo. The extension of operation of the Armenian NPP is estimated at $150mln, Gera Sevikyan,  Advisor to the Director General of the Armenian NPP, told ArmInfo. 

ArmInfo. The GeoPromining group of companies plans to invest about $15mln in the Agarak  Copper-Molybdenum Combine (ACMC) during the next couple of years, Mr  Belyaev, CEO, said at a meeting with Armenia's Premier Nikol Pashinyan.  

ArmInfo. The own income of the communities of Syunik region in 2022 was planned at the level of 2  billion 992 million drams, but the actual figures totaled more than 3 billion drams. The actual increase compared to 2021 totaled 344.6 million drams or 12.8%. This was announced to the Prime Minister of  Armenia Nikol Pashinyan on August 17 in the Syunik regional administration, presenting a report on the activities of the regional governor's office for 2022.

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.Experts of the Eurasian Development Bank (EDB) forecast near-zero inflation for the  third quarter of this year. Among the factors are AMD appreciation,  reduced price pressure and monetary restraints.  

ArmInfo. Armenia's Minister of Territorial Administration Gnel Sanosyan, who is on a visit to China,  held a meeting with Li Xiaopeng.

ArmInfo.The share of SMEs in Armenia's GDP reached 60%.  This was stated by Minister of Economy of Armenia Vahan Kerobyan, answering a question from an ArmInfo  correspondent, on the sidelines of a press conference held within the  framework of the organization of the "Days of Science and Business"  in Armenia.

ArmInfo. The upgrade of Armenia's long-term issuer default rating in foreign currency from  <B+> to <BB-> by Fitch Ratings indicates an increase in Armenia's  investment attractiveness. RA Deputy Finance Minister Eduard Hakobyan  expressed a similar opinion in an interview with the Public  Television of Armenia.

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.Areas of activity that are characterized by a high degree of profitability may be deprived of  the right to be considered micro-entrepreneurship entities and, accordingly, enjoy a preferential tax regime, Armenia's Deputy Minister of Finance Arman Poghosyan told a press conference as he commented on expected changes in taxation of microbusinesses. 

ArmInfo.Ozon has opened a representative office in Yerevan and is launching its own logistics  infrastructure in the country to make it easier for local sellers to enter the Russian market and ensure prompt delivery of goods from Armenia. This was announced today, July 25, by the press service of  the company.

ArmInfo.Ardshinbank will become a partner of Sevan Startup Summit 2023, which will be held on July 23-29 on the shore of the Lake Sevan and will bring together entrepreneurs, investors, and startuppers from around the world.

ArmInfo. RA Prime Minister Nikol Pashinyan chaired the regular Cabinet meeting today, the press service of the RA Government reports.  By the decision of the  Government, changes and additions were made to the Law of the  Republic of Armenia "On the State Budget of the Republic of Armenia -  2023" and the decision No. 2111 of the Government of the Republic of  Armenia of December 29, 2022.  Minister of Finance Vahe Hovanisyan  noted that the adoption of the draft decision is due to the  overachievement of budget revenues based on the results of the first  half of 2023, which exceeded the plan for the first half by about 50  billion AMD. As a result, the reserve fund is replenished by 10  billion AMD due to the increase of the tax revenues. "Let me note  that before this, with 10 decisions, our plan had already increased  by around 7.5 billion AMD, the main part of which, approximately 6.5  billion AMD, was allocated to Nagorno Karabakh," said Vahe  Hovhannisyan.  Prime Minister Nikol Pashinyan also referred to an  important decision made in the previous Cabinet meeting, which is  related to the development of the capital market, reminding that a  special place is given to the development of the capital market in  both the 2018 Action Plan and the 2021 Action Plan of the government.   The Prime Minister assured that in the steps aimed at giving a new  impetus to the economic development of Armenia since 2018, the  development of the capital market can become the new component that  will not only become a new stimulus for economic development, but  also a new mechanism of social protection of people.  According to  Deputy Prime Minister Mher Grigoryan, the risks of our country,  according to the assessment of leading international rating  companies, are such that it is very attractive for investments, but  due to the lack of tools, this flow is not realized. According to the  Deputy Prime Minister, the promotion of stock exchange trade is also  a platform for very serious diversified foreign investments.  The  Prime Minister clarified that these mechanisms are very important,  because when a large foreign investor acquires a bond of the Armenian  government, it is, first of all, a confidence in the government and  the country. 

ArmInfo. Germany is interested  in expanding cooperation with Eastern Partnership states, Mr Jens  Brandenburg, Parliamentary State Secretary to the Federal Minister of  Education and Research of Germany, stated at his meeting with  Armenia's Deputy Minister of Economy Rafael Gevorgyan. German  Ambassador to Armenia Viktor Richter attended the meeting as well. 

ArmInfo. The Ozon marketplace  has opened access for residents of Armenia to purchase goods from  Russia. Forbes reports with reference to the press service of the  company.

ArmInfo.As early as July 1, in the frames of the IDsalary package from IDBank, customers will have an opportunity to cash out free of charge not only at IDBank ATMs, but also at ArCa system banks.

ArmInfo. By June 2023, Armenia's gross international reserves (GIR) accelerated y-o-y growth from 4.7% to 19%, increasing in absolute terms by $597.4 million and reaching $3.749 billion, thereby approaching the historical maximum of $4.112 billion recorded at the end of 2022.  About this evidenced by the data of the Central Bank of the Republic of Armenia, according to which in May of this year alone, GIR increased by 3.1% (or by $112 million), while in Jan-May it decreased by 8.8% (or by $363.1 million).