Armenia gets highest growth projection by World Bank among European, Central Asian countries
Regarding other regional countries, the World Bank projected Azerbaijan’s 2022 growth at 4,2%, Georgia at 10% and Turkey at 4,7%.
Economy of Armenia
IMF staff reaches staff-level agreement with Armenia on precautionary Stand-By Arrangement
The proposed arrangement will support the government’s economic program to achieve investment-driven, knowledge-based, and export-led growth, while preserving macroeconomic, fiscal, and financial stability and reducing poverty.
Over 1 trillion in taxes paid by 1000 top corporate taxpayers in 9 months
The top 1000 corporate taxpayers paid a total of more than 1 trillion 82 billion 627 million drams in the reporting period.
S&P Global Ratings reaffirms Armenia’s sovereign ratings with "stable" outlook
According to the statement, the stable economic growth of Armenia, the decline in geopolitical risks, the strengthening of Armenia’s external position and the slower rate of foreign debt accumulation will contribute to the improvement of Armenia’s sovereign credit ratings.
EBRD Raises Growth Forecast for Armenia’s Economy for 2022
In its latest Regional Economic Prospects (REP), the EBRD said that the economies of Armenia, Azerbaijan and Georgia are enjoying some of their highest growth rates in years.
Armenia Central Bank Raises Refinancing Rate
The rate of funds attracted from banks by the CBA is 8%.
Possibility of Qatari Side’s Investing in Armenia Discussed in Doha
The conversation also touched upon the possibility of making investments by the Qatari side in Armenia.
The 1000 Largest Taxpayers in Armenia
The 1000 largest taxpayers paid more than 722 billion 325 million drams in taxes in the reporting period, of which more than 109 billion 253 million drams are customs payments.
World Bank Forecasts 3.5% Economic Growth for Armenia in 2022
The report also forecasts that the economic growth in Armenia will be 3.5% in 2022, 4.6% in 2023 and 4.9% in 2024.
Fitch affirms Armenia at 'B+'; Outlook Stable
According to the statement, Armenia will be adversely affected by spillovers from the crisis in Russia, given important linkages between the two economies, but Fitch presently expects that the sovereign's policy buffers, financing options, and long-dated commercial debt profile can help it navigate the shock without major impairment of repayment capacity.
IMF Forecasts 1.5% Economic Growth for Armenia in 2022
The Armenian economy has continued to recover, posting 5.7 percent growth in 2021, and continuing to grow strongly in early 2022.
Armenia Central Bank Revises Economic Growth Forecast for 2022
The Bank now forecasts 1.6% economic growth for the year, President of the CBA Martin Galstyan said at a press conference today.
Armenia Central Bank Raises Refinancing Rate by 1.25 Percentage Point
The Lombard repo facility rate is at 10.75 percent.
UN Ready to Provide Anti-Crisis Support to Armenia to Cope with Current Economic Situation
In the context of the ongoing Russian-Ukrainian military operations, Minister Tigran Khachatryan presented the impact on the Armenian economy.
PM Pashinyan Convenes Consultation on Preliminary Fiscal Framework of 2023-2025 Medium- Term Expenditure Program
Minister of Finance Tigran Khachatryan presented the summary analysis made by the Ministry, the purpose of which is to provide information to the state agencies on the assessment of the current and capital expenditure limits of the fiscal space.
PM Pashinyan Chairs Consultation on Introduction of Universal Income Declaration System for Natural Persons
The Minister of Finance Tigran Khachatryan presented the general description of the proposed system with a comparative analysis with the current declaration system.
The End of Armenia's Investment Attractiveness
It’s no secret that the investment attractiveness of our country has been problematic for many years both for subjective and objective reasons, including the "no war, no peace" situation in which we have lived for a long time.
Embargo on Imports of Turkish Goods: Policy Uncertainty
The Armenian government still remains undecided about restrictions on imports of Turkish goods.
Armenian State Commission for Economic Competition Protection and Russian Federal Antimonopoly Service Sign MoU
The State Commission for the Protection of Economic Competition of Armenia and the Federal Antimonopoly Service of the Russian Federation signed a Memorandum of Mutual Understanding in the competition policy sector through which the parties will cooperate through exchange of experience with regard to the conduct of studies of cases regarding violations of anti-monopoly/competition legislation, law-enforcement...
Armenia Central Bank Keeps Refinancing Rate Unchanged
The rate of funds attracted from banks by the CBA is 4%.
Armenian Cenbank Changes 2020 Recession Projection From 7,2% to 7,8%
He said they would present the 2021 projections later.
The Armenian Government has Put a Temporary Embargo on Imports of Goods Having Turkish Origin
In accordance with the Decision N 1708-N dated October 20, 2020 of the Government of the Armenia all the imports in to Armenia of any consumption goods of Turkish origin will be banned effective December 31 2020.
US-Based SADA Systems Plans to Establish Global Center for Technological Solutions in Armenia
Welcoming the guest, the Armenian minister informed that the ministry has been reformulated a year ago and currently involves the fields of communication, high technologies, military industry and digitization.
Warsaw Stock Exchange Intends to Take Over the Armenia Securities Exchange
The preliminary estimated valuation of 100% of AMX is approx. PLN 6 million (USD 1.6 million) On 18 September 2020, the Warsaw Stock Exchange (GPW) Management Board and the Central Bank of Armenia (CBA) signed a term sheet concerning negotiations to purchase 65% majority interest in the Armenia Securities Exchange (AMX) by GPW.
Armenia Central Bank Cuts Re-Financing Rate
The Lombard rate is set at 5,75%, while the Deposit Rate is set at 2,75%.
Let's Build Armenia in Anew: Armenia PM Posts New Video
"Let's build Armenia in anew: Tashir-Vardaghbyur," he wrote regarding this video.
“Ameria Tour” Draw: Chance to Explore Armenia with Us
For full information on the terms and conditions of Ameria Tour draw, please visit explorearmenia.ameriabank.am.
Armenia Eliminates Obstacle for Participation of EEU States' Businesses in Public Procurement
All member states of the Eurasian Economic Union have acknowledged the elimination of the obstacle by Armenia. As Minister of Internal Markets, Informatization, Information and Telecommunication Technologies Gegham Vardanyan stated, Armenia, as a country with the least obstacles, has promptly taken steps to eliminate the obstacles by providing equal access to public procurement for businesses of member...
Armenian Tax Revenues Decrease by AMD 17.6 Million in 1st Half of 2020
In the first half of 2020, the SRC rendered tax revenues of AMD 680.3 billion.
Armenian Parliament Approves 2019 State Budget Performance Annual Report
Earlier today head of the opposition Bright Armenia faction Edmon Marukyan informed that they would vote against the report.
IMF to Provide $ 248.2 Million to Armenia to Fight COVID-19 Consequences
As a result of talks with the IMF representatives, an agreement was reached on the use of the funds as direct budget support to finance socio-economic consequences.
US State Department: Armenia met minimum requirements of fiscal transparency for 2020
Two other neighbors of Armenia, Russia and Iran, are not included in the report.
Armenia’s Economic Growth in 2020 Will Be Negative Due to COVID-19, New CBA President Says
According to our estimations, Armenia’s economic growth based on the results of 2020 will be negative, significantly lower from our previous prediction. The most affected sectors from the pandemic are housing and public food, transportation, tourism agencies, other services and construction. But the pandemic almost had no effect on agriculture", he said, Armenpress reports.
Armenian Public Services Regulatory Commission Will Soon Publish New Gas Tariffs
"We hope that the desired result will be achieved for everyone. In any case, we hope that the result will not lead to a worsening of the situation for the main social groups," he added.
Name of Company to Design Ventilators in Armenia will be Announced Soon
"The deadline for submitting applications is over. Now it’s the stage to discuss and review the applications. In the coming weeks it will be clear which company is going to deal with the designing of five prototypes of ventilators", the deputy minister said, adding that after that they will try to understand the production process.
CB: Central Bank of Armenia will not Publish Data of Debtors from Now On
The legislative amendments introduced by the Armenian government suggest that the provision of the law allowing the Central Bank to publish the names of dishonest creditors will continue to be considered invalid, CB deputy head Nerses Yeritsyan said on Tuesday.
18th Anti-Crisis Measure is Adopted in Armenia
"With this, we want to say our words of encouragement and appreciation to the companies that have been able to maintain jobs and payrolls during these difficult times," he added.
Armenia State Revenue Committee on Volumes of Trade Turnover
In 2019, the volumes of import into Armenia made up AMD 2,661,000,000, which is 11% more than the indicator in 2018
Moody's Reaffirms Ameriabank Ba3 Rating with Stable Outlook
Despite the challenging environment amid the coronavirus outbreak Moody’s expects that the Bank’s funding and liquidity profiles will remain stable.
Armenia Mining Companies to Pay Environment Tax
According to her, these deductions will be determined by the authorities in the environmental domain, and they will be reflected in the budgets of the communities in whose territory the activities of these companies have a detrimental effect.
Deputy Minister: Unemployment will Increase in Armenia from 17.7% to 19%
As a result, unemployment will increase in the country from 17.7% to 19%.
Armenia PM: National Currency is Strengthening its Stability
"The dram is strengthening stability, the deposits and loans are growing, and the liquidity of banks is also increasing," he added, in particular.
Armenia: Government Approves 10th Activity to Support Micro-Businesses as Part of Ots Effort to Offset the Impact of COVID-19
Nikol Pashinyan noted that the coronavirus-caused deviations shall not affect the rehabilitation of 500km-long road sections, which was announced last year.
Armenia Expected to Get €13.4mn Loan from International Bank for Reconstruction and Development
Minister of Territorial Administration and Infrastructure Suren Papikyan stated this Tuesday, during the discussion of the sitting of the National Assembly Standing Committee on Financial-Credit and Budgetary Affairs on the ratification of the Second Additional Financing to the Lifeline Road Network Improvement loan agreement between Armenia and the IBRD.
Fitch Revises Outlook on Armenia to Negative; Affirms at 'BB-'
Banking sector fundamentals will weaken as a result of the coronavirus shock, captured by the negative banking sector outlook for 2020.
Central Bank Forecasts 0.7% Economic Growth in Armenia for 2020
At the end of last year, the CBA had forecast 5.3% economic growth for this year, whereas the government—4.9%.
Gazprom Armenia Plans to Increase Natural Gas Price for Consumers
Gazprom Armenia intends to increase the price of natural gas for the country’s consumers by 36% from July 1.
Heritage Foundation: Armenia Needs to Improve Judicial Effectiveness to Have Freer Economy
According to the report, to attract greater investment and finally break out of its holding pattern to move higher into the mostly free category, Armenia will need to focus more intently on improving judicial effectiveness and government integrity.
Armenian Government Develops Multi-Billion Business Aid Packages
An additional 80-billion-dram fund will be developed aimed at re-organization of the economy and its positioning in accordance to the parameters of the post-crisis period, PM Nikol Pashinyan said at the Cabinet meeting.
Shopping Conditions, Hygiene Rules Get tighter in Armenia (VIDEO)
It is also important that shopping conditions and hygiene rules have been tightened in Armenia several times.
Armenia Cenbank Says Ready for Potential Coronavirus-Related Economic Impacts
According to current assessments it is expected that these impacts, both on the global economy and the Armenian economy, will be short-term. Nevertheless the Central Bank is monitoring the developments in the global economy, the financial and commodity markets, and is assessing the short-term effects that could be recorded upon the Armenian economy.
Armenian Economy Minister Receives Moody's Experts
Deputy Minister Avag Avanesyan touched upon the economy and the steps aimed at increasing competitiveness and productivity of industry and talked about the need for enterprises to absorb innovative technologies.
Armenia Premier: We Started Brilliant Ecnomic Year
In January, inflation was only 0.2 percent, the salary increase - 5.9 percent. In short, we have started a brilliant economic year.
Anti-Trust Regulator Calls on Businesses to Refrain from Increasing Medical Protective Mask Prices
The competition regulator said it is monitoring the area and in the event of recording violations or abuse administrative proceedings and other measures will be enforced.
Armenia PM: Central Bank Made $5 mln Purchase from Financial Market Today
"Today the Central Bank of Armenia made a purchase of $5,000,000 from the financial market. This is the first purchase of the year," he stated.
National Security Service Operates Specialized Division for Safeguarding Foreign Investments
It said the division is functioning as part of the Department of Economic Security and Anti-Corruption which was formed in October 2018 as result of reforms.
Estimations of Armenia’s Economic Growth are Pretty Solid: World Bank
According to the report "firming growth in the South Caucasus, to an estimated 3.7 percent in 2019, was supported by private consumption, and on the supply side by strong manufacturing growth, as well as by a recovery in mining production in Armenia".
Armenia Will be Granted a 45.8mn Euro Loan
Armenia will be granted a 45.8mn euro loan in accordance with a loan agreement signed between Armenia and the International Bank for Reconstruction and Development
Government Returned 180 Billion AMD in Working Capital to Businesses in 1,5 Years - PM
"In other words, within one and a half year the government returned 180 billion AMD in working capital to the business. The process continues, including in the form of VAT debt returns", the PM said.
German KfW Bank, Armenian Cenbank sign €60,000,000 Loan Deals
The deal was signed in Vienna during a session of a board of the German-Armenian Fund (which functions with participation of KfW).
PM: State Budget of Armenia Exceeds by AMD 89 Billion in 2019
"If the statistics were incorrect or invented, then this money would not exist. The question would be, where did they come and from then? " Pashinyan noted.
7th Annual Business Innovation Forum Kicks off in Armenia’s Dilijan
The BIF is a platform where the leading practices of innovation development are presented, practical discussions are held, and future action plans are developed.
Fitch Upgrades Armenia to 'BB-'; Outlook Stable
According to the organization, Armenia's institutions have facilitated a peaceful and orderly political transition and could strengthen further through structural reforms.
EDB Aims to Expand its Activities in Armenia
Ladikov-Roev noted that the EDB aims to expand its activities with the EEU member states, in particular Armenia, to cooperate more closely and to increase its role in financial processes.
Armenia official: Even if Natural Gas Price Changes as of January 1, it Will not Affect Consumers
According to him, if the price changes, Gazprom Armenia shall apply to the Public Services Regulatory Committee, and after that will be decided the gas tariff for consumers. "The working contract with Russia expires on December 31," he said. "There are negotiations now and there is no information yet."
New Cooperation Bridge to Open Between Armenian and Israeli IT Companies
Israel is also considered as the country of startups, it captures a leading place in the world both with the quantity and quality of its startups. Having an office in Armenia will enable to cooperate with the Israeli office, get acquainted with the Israeli companies and create a joint product, as well as will open a direct window for Armenia to the Asian market.
Meghri Border Checkpoint to Be Upgraded
According to Mariyasin, Armenia’s signed documents with Georgia and Iran on the use of information between the customs services will allow to make it faster for passengers and freight carriers to cross the border, and this is very important in the context of the reforms that Armenia is making in the sector of provision of state services, as well as in the context of integration into the Eurasian...
WSO Secretary General: Armenia Is a Leader in Region on Standardization of Customs Data
Digital technologies are especially important for landlocked countries, including Armenia, both in terms of enhancing trade and economic relations, and in terms of risk management, which is also recorded in international conventions.
Armenia State Revenue Committee, Iran And Georgia Customs Services Sign Document
A document on technical requirements of preliminary electronic information system has been signed .
Artur Javadyan: Central Bank is Concerned About Growth Rate of Consumer Loans
Banks provided unprecedented consumer and mortgage loans this year, the volumes of which increased by about 30-40%, while household incomes did not increase significantly during this period. Thus, significant risks arose for both banks and citizens.
Garegin Baghramyan: Water Tariff to Remain Same
When asked what Veolia Water’s justification for raising the tariff was, Baghramyan said the company takes the baseline price, takes into consideration the factors for specification and submits a bid.
India-Armenia Pharmaceutical Business Forum-Exhibition to be Held in Yerevan
India is the largest supplier of generic medicines in the world, accounting for 20% of global supplies. The country has 3,000 pharmaceutical companies with a strong network of more than 10,500 manufacturing facilities. The cost of production in India makes up almost one-third of the value of the United States, and in Europe nearly half.
N. Pashinyan: We Have Substantial Drop in Unemployment Since 2nd Quarter of 2019
I am pleased to report that we have a substantial decrease in unemployment since the second quarter of 2019.
Armenia is in OECD Foreign Direct Investment Regulatory Restrictiveness Index
The FDI Index measures statutory restrictions on foreign direct investment in 22 economic sectors across 69 countries, including all OECD and G20 countries.
Asian Development Bank: Armenia Annual GDP Growth Forecast Moderates
According to the report, Armenia’s gross domestic product (GDP) growth moderated from 8.7% year on year in the first half of 2018 to 6.8% in the same period of this year—still robust, reflecting buoyant domestic demand.
Armenia PM: If Government Were Subjected to Pressure on Teghut Matter, Over 900 People Would Again Be Unemployed
“At the end of July, there was a great deal of uproar that, supposedly, the dam of the tailing dump of the Teghut mine was on the verge of collapse and could collapse at any time,” Pashinyan wrote.
External National Debt Decreasing for First Time Since 2015: Nikol Pashinyan
A trend in external national debt reduction has been recorded in August 2019 for the first time since 2015.
Armenia Planning on Taking New Loans Worth $1.5 Billion
This is what Armenia’s Minister of Finance Atom Janjughazyan said during a discussion on the report on the performance evaluation of the 2018 State Budget at the National Assembly today, responding to a question from deputy of the Bright Armenia faction Karen Simonyan.
Armenia’s Exports to EAEU States Grow by Over 20%
“EAEU has opened great opportunities for Armenia’s economy. We have made some comparisons as of late 2014 (before Armenia’s membership) the quantitative figure of our relations with the member states. And we can state that the trade turnover volumes between Armenia and the other EAEU states has increased by 34.5%. Moreover, in the same period the exports from Armenia to the EAEU states has grown...
Made-in-Armenia TV Sets Hit the Shelves
The 14 employees of the International Manufacturing Group ensemble up to 300 devices each day
Chinese Market is Open for Armenian Goods: PM Pashinyan
The PM told minister of economic development and investments Tigran Khachatryan that it is necessary to understand where there are discrepancies which create technical problems so that the Cabinet will take actions to solve them.
Lazar Serebryakov, Russian Admiral of Armenian Descent, One of the Founders of Novorossiysk
Lazar Serebryakov, or by his birth name Ghazar Artsatagortsian, was a Russian admiral, who participated in the Russo-Turkish War and also held top command positions during the Crimean war.
Armenia National Debt Close to $7bn at end of 2018
The Ministry of Finance of Armenia has issued its synopsis of the country’s national debt, and according to which 2020 and 2025 will be the toughest years in terms of paying off this debt.
Armenia, Georgia Overtaking Azerbaijan with Per-Capita GDP Growth
According to the forecast, in 2021 Georgia will come close to $ 5,000 per capita, in Armenia the figure will be slightly lower at about $4,730, at about $4,590 in Azerbaijan.
Armenian Official: US Understands Our Need for Energy Cooperation with Iran
Baghramyan informed about the recent meeting with the representatives of the State Department when the Armenian side briefed the Americans on the development of our energy system based on cooperation with the Iranian side amid economic blockade by Azerbaijan and Turkey.
24% Growth in Iran's Non-Oil Trade with Armenia
Armenia was the 62nd exporter of goods to Iran over the four months. The imports mainly included sheep, vehicles and diesel engines.
FMD K&L Europe Opens the Region’s Largest Biotechnology Park in Armenia
“When I first came to Armenia I investigated the environment and found that the country has highly qualified doctors and biologists. Armenia may become the perfect platform for our company to enter Europe” noted Mr Kirit Velani, the Executive Director of FMD K&L Europe.
The Inclusive Growth Is in the Core of Armenia's Development Strategy
This is very important in terms of the interests of the citizens of the Republic of Armenia on the one hand, and on the other hand, in order to be perceived as a partner in the international arena.
Armenian Jewelry Introduced in Central Asia
Armenian producers have signed export contracts worth of AMD 38m, and the Mitsario Gold has opened a branch in Kazakhstan.
USA Reauthorizes the GSP Program for Armenia
GSP-eligible products may enter the U.S. with reduced or zero rates.
Wine Can Become a National Armenian Brand for Export
It is known that the main Armenian products that enter the Eurasian markets are high-quality Armenian cognac, which is a national brand and is exported mainly to Russia, Belarus and Kazakhstan, but in 2017 Armenia exported to these markets more than 1.2 million high-quality wines.
We Will Continue to Implement our Reform Agenda: Armenian Prime Minister's Interview with Euronews (Video)
Еuronews reminds that Karapetyan had earlier met representatives of the UN Development Programme to help kick-start the reform process.
The World Bank Improves GDP Growth Forecast for Armenia in 2018
The bank’s GDP growth projection for Armenia in 2017 has risen from 2.7% to 3.7%.
New Investments Are Expected After the Lebanese Business Mission (VIDEO)
The establishment of the "Mike Sport" sportswear and accessories production in Armenia is at the stage of discussions. "Management and Development International Company" aims to invest in the projects developed by the DFA.
The Increase of Prices Announced by the Central Bank of Armenia for 2018 Has Caused Misunderstanding
First, it is worth noting that the CB's targeted four-percent inflation, which was mentioned in the statement, is the derivative of the two main reasons - the Customs Union rates and the expected global economy impulses. In other words, the CB policy is based on other factors affecting the goods prices, not equally acting as a factor promoting inflation.
Armenian-Iranian Business Forum Took Place in Yerevan
DFA stressed that “for Iranian entrepreneurs doing business in Armenia will be by 23% more affordable with more skilled labor and financial sustainability.”
Armenian Dram Turns 20
The process of replacing Soviet rubles with the new national currency began on November 22, 1993.
Armenia to Raise Drinking Water Tariff
Veolia Djur submitted the application for raising the tariffs by AMD 14 in August.
More Than 180 Vacancies Presented at Work Fair in Yerevan
The career and entrepreneurship fair is the largest U.S. Embassy-supported event in Armenia during Global Entrepreneurship Week, a weeklong promotion of entrepreneurship in nearly 170 countries worldwide.
World Bank Provides $2 million Loan for Armenia
Financing was originally provided only for the gravity structure, plus the main and secondary canals.
Cigarette Production Grows in Armenia
Armenia exports tobacco mainly to Syria, Iraq and the United Arab Emirates.
KFW to Provide Armenia with €80-Million Loan
The means will be issued by tranches of 40 million in 2017-2018. The interest rate for each of the tranches will be approved at the moment of issue.
Prime Minister of Armenia Attended the Opening of ArmAgroForum Conference
He assured that the Government is open to discussing all the initiatives and the State will stand by the farmers intensively and objectively so that they reach the logical point that the State has set.
Armenia Ranks 47 on Doing Business Report
"Over the course of last year Armenia improved its business regulations as captured by the Doing Business indicators in absolute terms. The country is indeed continuing to narrow the gap with the global regulatory frontier which is a positive development," the reports says.
Business Innovation Forum 2017 Slated for Nov 10-11
The forum will gather some 200 entrepreneurs and IT specialists from Armenia and abroad around technological innovation and business presentations.
ADB Provides $40 Million to Armenia for Fiscal and Financial Market Reforms
The Public Efficiency and Financial Markets Program will increase the depth of financial markets in Armenia and help the government in its goal of increasing fiscal sustainability and resilience in the country’s financial sector.
Anticorruption Council Holds Regular Meeting
The Prime Minister instructed to consider the possibility of providing resources as part of budgetary allocations and follow them up during the budget debate.
What Will the Launch of the Meghri Economic Zone Give Armenia?
If we consider the broader opportunities, then Meghri Free Trade Zone may be of great interest both for the EAEU countries, for which this is an opportunity to develop economic relations with Iran on favorable conditions, and for Iran to enter the EU market more easily, taking into account the fact that Armenia is using the GSP+ privileges.
RA Prime Minister on Business Environment Improvement in Armenia
We need to start drafting the 2018 business environment improvement program and hold discussions with all interested parties," the Prime Minister noted on this.
Joint Calculation Unit vs Single Monetary Unit: the Difference in Case of the EAEU
In this sense, the attempts to identify a joint calculation unit with a single monetary unit are senseless.
The Number of GSP+ Users in 2016 Has Increased: Garegin Melkonyan (EXCLUSIVE)
I have mentioned that by joining the system, we periodically had a dialogue with representatives of the European Commission in terms of presenting information about the work done on conventions. So far, we have submitted four annual reports to the European Commission and the upcoming report is not the first one.
Eurasian Experts Club: Indexes of the Economic Development in Armenia Give a Reason for Moderate Optimism
He added that the present situation shows that Armenia has an opportunity to finish a year with a positive index, which opens a new path for development.
Armenia Will Increase Its Defense Expenditure
"In 2020 defense expenditure in Armenia will be 4 percent of GDP," the Minister noted underlining that the decision is conditioned by the necessity to keep balance.
Armenian Government Considers Small, Medium-Sized Entrepreneurship
In this connection, it was noted that as a result of joint discussions with stakeholder agencies and business associations, several matters related to SME activities were included in the package of legislative amendments under consideration.
"Made in Armenia" Will Enjoy Privileges in Europe
"As a result, the food, beverages, fish products, textile and metallurgical products, with a stamp "Made in Armenia" will not need a Certificate of Origin when being exported to Europe," he noted.
Import of Azerbaijani Salt and Tea to Armenia Prevented
Customs officers discovered more than half a ton of food salt and tea of Azerbaijani origin in vehicles coming from Georgia, the State Revenue Committee informed Armenian NEWS.am.
3000 Jobs Created in Armenia During the Last Three Months
The Minister also referred to the reforms implemented in the sphere of light industry
Armenia Should Solve the Problem of Diversification of Exported Goods to India
The creation of FEZ between the Eurasian Economic Union (EAEU) and India will not only increase gross exports and trade with India, but will also contribute to the development of trade relations between India and individual member countries of the EAEU.
The Visit of the Vice President of India to Armenia Showed that the Role of Armenia in the Region Is Changing
The visit was interesting in itself, and not only in its rich content, but also in the political sense. In particular, during the last 12 years, it was the first visit made at such a high level, which demonstrates the goals to give a new impetus to the development of the Armenian-Indian relations.
The Agreement On Armenia-Iran Free Economic Zone Was Signed Notwithstanding Hasty Pessimism
Thus, the estimations actively circulating by the media, according to which our government should give up the idea of a free economic zone with Iran and the arguments from unknown sources, that it is not "economically appropriate" are hasty and false news, to put it mild.
The Decrease of Tariffs for Yerevan-Moscow Cargo Transportation Has a Positive Effect on Trade
On the other hand, it is necessary to pay attention to the fact that the reduction of tariffs for cargo transportation with Russia is supplemented by trade preferences on the borders of the EAEU. i.e. this cooperation reduces the obstacles connected with the absence of Armenia's land borders with the EAEU.
Entry of Any Famous Brand Into Armenia May Cause Global Changes
The world-famous American brand, which includes a number of companies (most widely known "Marlboro" cigarettes among them), emphasizes the importance of technological development and the role of human resources in the production process.
Export Remains to Be the Main Driver of Economic Growth in Armenia: EDB Annual Report
In January to September 2016, the state budget posted a deficit of AMD 93.6 billion, 40% more than in the same period of 2015.
Armenia to Have Permanent Trade Attaché in China
A trade attaché is a person posted to a foreign embassy to promote the economic interests of his or her home country.
The Effect of the Reduction of the Gas and Electricity Prices on Armenian Economy Will be Felt during the Second Semester
As for the business environment, the first result of a reduction in tariffs for gas and electricity will be seen immediately after the first productive cycle with the new tariffs.
President Sargsyan Held a Number of Bilateral Meetings in the US
The President of Armenia held discussions with the Vice-President of the Asian Development Bank Wencai Zhang, President and Chief Executive Officer of Lydian International Howard Stevenson, Executive Director of Contour Global International Company Joseph Brandt.
The Armenia Investment Forum 2016 Will Be Held in New York, US
The forum is aimed at raising awareness of Armenia’s investment attractiveness and competitive advantages.
Iran to Host Armenia Expo in October
The fair will promote the development of trade and economic relations between Armenia and Iran, encourage investments, the development of tourism, and the facilitation of business agreements.
Eurasian Expert Club: the Government of Armenia Should Increase Its Participation in the Governance of the Economy
According to Safaryan, the members of the Eurasian expert club share the opinion that the trade of fuel should be organized with national currency of the EAEU countries.
Iran Endorses Visa-Free Travel with Armenia
Accordingly, citizens with ordinary or diplomatic passports of Armenia and Iran are allowed to stay maximum of 90 days in the other country without a need to obtain a visa.
Reduction of Gas Prices in Armenia will Affect the Pricing of Goods
If you start with the expected impact of this fact on the decline in prices of different goods in general, it is necessary to divide the production with more and less gas consumption.
Armenia does not Lose the Opportunity of Becoming a Bridge Between Armenia and EAEU
One should not forget that Armenia as a separate economy has its interests. Consequently it would be illogical to allow transportation of the Iranian tomatoes via Armenia to Russian Federation (RF) in case when Armenia exports its own tomatoes to RF.
US and Armenia Discuss News Investment Opportunities
"No one can make American entrepreneurs invest in Armenia. The same applies to Armenian investments in the US," the diplomat said.
Introduction of the Single Currency in EAEU Requires a Moderate Haste
If we eventually realize which option is the most reasonable and whether Eurasian community is ready for the transition to the new currency in the next two-three years, in my opinion, it is not the appropriate moment to launch the process.
The Fall of Ruble is Inevitable: Better to Keep Savings in AMD
In the long-term perspective even if ruble rate get even lower but become stable, it will be possible to gain benefits by raising the value of the national currency.
US Ambassador in Armenia: Transparency of Tax Authorities’ Operations Has Increased in Armenia
He commended the Government of Armenia for these important successes, which have allowed Armenia to achieve a 32-step improvement in the ‘ease of paying taxes’ rankings of the World Bank Doing Business Report for 2015, rising from the 73rd place in 2013 to 41st place in 2014 among the 189 countries surveyed. Noting the positive effect that transparent tax regulations and administration have on...
Armenian Government Ready to Support the Russian Investors
Hovik Abrahamyan welcomed their visit to Armenia and noted that the Armenian government is ready to support the implementation of investment programs in different areas.
Fitch Ratings Declared about the Stability of the Economy in Armenia
The agency noted that the risks of Armenia, connected with Russia, increase the risks to perspective growth in the country and the balance of payments and, consequently, affect the rating.
Ambassador of Iran: Armenia As a Good Regional Transit Corridor
"Iran views Armenia as a good regional transit corridor between the Black Sea and the Persian Gulf. 3 billion 200 million dollars are required for its construction of the transit route. This in its turn requires a serious investor who is not found yet." as Artsakh Press reports Mohammad Reisi stated.
Davit Harutyunyan: the Audit will Take 3-6 Months
In an answer to the question whether subsidy will be paid at the expanse of taxpayers, Davit Harutyunyan answered that in case it turns out the price increase is not justified, this money will be charged from distribution networks.
Armenian Protesters Suggested the Police to Play Football
Protesters on Baghramyan Avenue in Yerevan offered the deputy chief of police Valeri Osipyan form a team of the police and play football with them. Osipyan received an offer, but noted that the match will take place with the activists after the "restoration of public order."
Armenia: Not a "Revolution of Outlets", but a Social Protest
"We have no political demands," say the organizers of the protest. The fact that Russia has nothing to do with the mass protests in Armenia, caused by an increase in electricity tariffs, was also stated by the Energy Minister of the Russian Federation Alexander Novak.
The Geography of Protests of the Armenians Expands
He also informed that protests against this decision are also carried out by representatives of the Armenian community abroad. Thus, protests took place in front of the Armenian Consulate in Los Angeles, in Strasbourg, in several cities of France and Germany.
Peaceful Demonstrations in Yerevan Continue
Many media representatives describe the events in Yerevan as an anti-Russian campaign, which however, does not have any ground and the protests is organized by representatives of civil society and no political force, even the opposition is leading the protests. This is mostly a social protest and people demand justice.
Iran-Armenia: Prospective Cooperation, Mutual Realization
Another important aspect to be underlined from Iran-Armenia official meeting was the reference to the international cooperation between the two countries. This is important because it gives an opportunity to the two countries to reach mutual agreement to support each other in the international organizations they are members by voting for each other or at least by not voting against each other.
Armenia to Benefit from the Expected Agreement on Sailing
One can say it for sure that Armenia, which does not have access to sea, will also benefit from this agreement. Here a question rises. How? This is an opportunity for an Armenian producer to participate in sea trade, if not directly from the territory of Armenia, then at least from any other EEU country.
Lifting of Sanctions will Have a Positive Impact on the Iranian-Armenian Relations
Creation of a free trade area between the EEU and Iran could give a new impetus to the development of economic relations between Armenia and Iran, since the free trade agreement provides liberalization of customs policy, which will make the Armenian and Iranian markets more attractive for the businessmen of the two countries.
What Is Behind Reduction of Income Inequality in Armenia?
In the above mentioned UN report the percentage of the poorest people has reduced for 85% as compared to 1990s in Armenia.
Armenia’s Becoming Transit Country is in Interests of Iran and Russia
Thus if one takes into consideration the above mentioned it seems that we have a kind of interesting triangle formed: both Armenia and Russia are going to mutually benefit if Iranian gas is exported to Europe through the EAEU area.
Silk Road is Close to be Reality
Armenia has been one of the main courtiers involved in the old Silk Road path.
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15:46What Good Is the UN if It Won't Defend Its Founding Principles? – former FM Mnatsakanyan’s article for Newsweek
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15:145-Day Weather Forecast in Armenia
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14:56Today We Are Witnessing a Grave Humanitarian Crisis in Nagorno-Karabakh: Armen Gevorgyan
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12:38Talks with Russian peacekeepers continue on delivering 150 tons of humanitarian cargo to Karabakh
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11:26PACE calls on Azerbaijan to open the Lachin corridor, release all Armenian prisoners
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11:00The EU is making significant efforts at the highest level to contribute to comprehensive normalisation of relations between Armenia and Azerbaijan: Enrique Mora
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10:40Creation of humanitarian crisis by Azerbaijan for Artsakh’s people is a genocidal act. Representative of Cyprus
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10:30Kristina A. Kvien sworn in as an Ambassador by U.S. Under Secretary of State ahead of Armenia arrival
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10:09Vahagn Khachaturyan received the Minister of Finance Vahe Hovhannisyan
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10:00State Department: US welcomes EU efforts to strengthen trust between Armenia, Azerbaijan
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09:40US congressmen call on Biden to stop military support to Azerbaijan
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09:00Some roads are closed in Armenia
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21:12Meeting of Ararat Mirzoyan and Enrique Mora
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20:11A consultation on tax potential assessment held at Government
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19:03Russian MFA responds to the decision of the EU to deploy a new observation mission in Armenia
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18:07Armenia’s citizens to visit United Arab Emirates without visa
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17:21Wizz Air to start operating flights on several new routes
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17:16Gas supply to be restored in Stepanakert, but cut in the regions
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17:13Kremlin rules out any talks between Zelensky, Putin
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17:04The Secretary of the Security Council Had a Telephone Conversation with Kestutis Budrys
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Weather
Yerevan
sunny
Humidity: 28%
Wind: 1.54 km/h
Humidity: 28%
Wind: 1.54 km/h
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3° -3°
28.01.2023
5° -1°
29.01.2023
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