Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services

 Monday, May 6 2024 16:58:00
Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services

ArmInfo.After two and a half years of recovery and sharp growth in Armenia, a decrease in exports and  imports of almost all services has been recorded since Q4 2023.  This is fraught with losses in terms of the country's balance of payments and ensuring the budgeted 7% GDP growth. Economist Aghasi Tavadyan,  associate professor of the State University of Economics of Armenia, came to this opinion after analyzing the quarterly data of the RA balance of payments.

Large crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 million
 Monday, May 6 2024 16:55

ArmInfo. As part of the state program to promote the development of industrial crayfish farming for  2024-2026, the first agreement to build a large crab breeding complex was signed  at the Ministry of Economy, between the representatives of the public and private sectors.  According to the press service of  the Ministry of Economy, the total investment amounted to 300 million drams, of which 50% will be provided by the state.

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Eurowings launches Berlin-Yerevan-Berlin flights
 Saturday, May 4 2024 14:36

ArmInfo. Eurowings Airlines launches flights in the Berlin-Yerevan- Berlin direction on May 4, Zvartnots  International Airport CJSC reports.  Flights will operate once a week on Saturdays.

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Russia bans sugar exports; 28 thousand tons allowed to be exported to  Armenia
 Saturday, May 4 2024 14:34

ArmInfo. Russia is introducing a temporary ban on the export of cane or beet sugar and chemically pure  sucrose, reports the Telegram channel of the Russian government.  The restriction will be in effect until August 31, 2024. It is emphasized that this decision is aimed at maintaining the stability of the domestic food market.

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In Jan-March 2024, Armenian state budget revenues increased by AMD41  billion y-o-y
 Friday, May 3 2024 18:20

ArmInfo.In January-March 2024, state budget revenues amounted to 525 billion drams, against the adjusted  563.1 billion drams and the actual 483.6 billion drams for the same period in 2023. The level of implementation of the adjusted plan was 93.2%. This was reported by the press service of the Ministry of Finance of Armenia.

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EAEU agreement on mutual recognition of documents on academic degrees
 Friday, May 3 2024 11:46

ArmInfo. On May 2, the Agreement on the mutual recognition of documents on academic degrees in the  states of the Eurasian Economic Union came into force, reported by the press service of the Eurasian Economic Commission.

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Intellectual property protection of key importance for economic  development and investment environment - premier 
 Friday, May 3 2024 11:44

ArmInfo.During 2021-2023, the number of applications for registration of trademarks received under the  national procedure, as well as the number of international applications for registration of trademarks received under the international procedure (Madrid system), increased, according to a report presented to Prime Minister Nikol Pashinyan at the Intellectual Property Office of the Ministry of Economy during a discussion of the report on the department's activities for 2023.

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Government approves ratification of agreement on determining origin  of goods exported from EAEU
 Thursday, May 2 2024 19:27

ArmInfo. At a meeting on May 2, the Armenian Cabinet approved the draft law "On the ratification of the  "Agreement on a harmonized system for determining the origin of goods  exported from the customs territory of the EAEU".

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FLYONE ARMENIA launches Yerevan-Nice-Yerevan flights 
 Thursday, May 2 2024 19:18

ArmInfo. From May 2 of this year, FLYONE ARMENIA airline began operating flights in the  Yerevan-Nice-Yerevan direction.

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Armenia requests WB to extend Armenia Extractive Industries Transparency Initiative Support program
 Thursday, May 2 2024 19:09

ArmInfo. Armenia has appealed to the World Bank with a request to extend the "Armenia Extractive  Industries Transparency Initiative Support: Additional Financing" program. The corresponding draft decree of the RA President was approved at a government meeting on May 2.

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Turnover tax doubled in Armenia 
 Thursday, May 2 2024 13:44

ArmInfo. Armenia should abandon the turnover tax; there should be one taxation system in the republic,  Armenia's Premier Nikol Pashinyan stated on May 2 at a meeting of the Cabinet of Ministers, during which legislative amendments were approved, providing for a double increase in the turnover tax rate.

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Expert: Stimulating employment is critical in fight against poverty  in Armenia
 Wednesday, May 1 2024 23:39

ArmInfo. In the fight against poverty in Armenia, stimulating employment is critical. This was  stated by World Bank senior specialist Lea Hakim, presenting the report:  Beyond Boundaries: Unlocking Potential for a Sustainable Future.

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Armenian market participants` expectations indicate gradual reduction  of refinancing rate until end of current year
 Tuesday, April 30 2024 20:09

ArmInfo. Market expectations of the CBA policy rate path have not changed materially since the last  decision and continue to reflect expectations of a gradual reduction in the policy rate through the end of the current year.

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Scientists and economists discuss deepening financial integration in  EAEU at International Conference at RAU
 Tuesday, April 30 2024 18:49

ArmInfo. Numerous issues and problems of integration of the EAEU member countries were discussed at the  international scientific conference entitled "Deepening financial integration in the EAEU" held today at the Russian-Armenian University(RAU).

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Renshin to build World Trade Center in Yerevan
 Tuesday, April 30 2024 17:34

ArmInfo.On April 30, RA Minister of Economy Gevorg Papoyan and General Director of Renshin  LLC Eduard Marutyan signed an agreement on the implementation of the project to build the World Trade Center in Yerevan, the press service of the RA Ministry of Economy reports. 

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Central Bank Governor: external demand is more restrained than last  year
 Tuesday, April 30 2024 17:00

ArmInfo. Consumer demand in the market remains high, but not at a level that would lead to a change  in the monetary policy of the Central Bank of Armenia.  Governor of the Central Bank of the Republic of Armenia Martin Galstyan stated on April 30 during a press conference.

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Armenia`s government plans introducing SAFE format 
 Friday, April 26 2024 16:19

ArmInfo.The RA government wants to introduce a new format for concluding an agreement - SAFE (Simple agreement for future equity). At a meeting on April 26, the RA National Assembly Commission on Economic Issues issued a positive  conclusion on the amendments to the law "On Joint-Stock Companies."

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Armenia`s Civil Aviation Committee to render paid services
 Friday, April 26 2024 16:17

ArmInfo.The services of the Civil Aviation Committee of Armenia will become paid. At a meeting on April 26, the RA National Assembly Commission on Economic Affairs issued a positive conclusion on the amendments to the laws "On State Duty" and "On Aviation" submitted by the RA government in the second reading.

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New regulations for fulfillment of tax obligations of organizers  engaged in gaming activities
 Friday, April 26 2024 16:16

ArmInfo. The Executive proposes amendments to the Laws on Lotteries and on Winning Games, Internet Winning Games and Casinos. The main regulations were presented by the Deputy Chairman of the RA State Revenue Committee  Artur Manukyan at the sitting of the Standing Committee on Economic  Affairs on April 26.

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New tax reporting mechanism to be introduced in Armenia 
 Friday, April 26 2024 16:13

ArmInfo.A new mechanism for submitting tax reporting and obtaining data from your personal account will be introduced in Armenia. At a meeting on April 26, the RA National Assembly Commission on Economic Issues issued a positive  conclusion on the amendments to the Tax Code presented by the RA  government.

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RA government to return to initial route of laying Armenia-Georgia  power line with construction of electrical substation near Ddmashen  village 
 Thursday, April 25 2024 17:57

ArmInfo.The Armenian government has decided to return to the initial route of laying the Armenia-Georgia power line with the construction of an electrical substation near the village of Ddmashen. Previously, the issue of making changes to the project and, instead of the Ddmashen substation, to build a similar station at the Hrazdan Thermal Power Plant with the connection of the American General Electric and Chinese companies was discussed.

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Exchange rates
08.05.2024
RUB4.21-0.05
USD388.010.28
EUR417.11-0.44
GBP484.90-1.43
CAD282.27-1.16
JPY24.97-0.13
CNY53.69-0.03
CHF426.99-0.40


Experts
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Expert on Armenia`s international trade growth against Expert on Armenia`s international trade growth against "miserable  trade pattern"  
Expert: Armenia should use Georgian, Turkish transit opportunitiesExpert: Armenia should use Georgian, Turkish transit opportunities
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Commented
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Gevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in ArmeniaGevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in Armenia
Bank of Georgia announces proposed acquisition of Ameriabank for  $303.6 millionBank of Georgia announces proposed acquisition of Ameriabank for  $303.6 million

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2