Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister

 Friday, May 17 2024 19:30:00
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister

ArmInfo.On May 17, the NA Standing Committee on Economic Affairs debated the draft law on Making  Amendments and Addenda to the RA Tax Code with the attached legislative package in the first reading. It was presented by the RA Deputy Minister of Finance Arman Poghosyan, the press service of the  RA NA reports.

Armenia`s government to raise turnover tax 
 Monday, January 22 2024 12:24

ArmInfo.Armeni's government plans to revise the turnover tax this year and narrow the scope of  beneficiaries of among microbusinesses in 2025. 

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Armenia`s tax revenues 15.4% up last year 
 Saturday, January 20 2024 14:18

ArmInfo.In 2023, Armenia's State Revenue Committee ensured tax revenues totaling AMD 2,200bln  (over $ 5.460bln), which was AMD 296bln or 15.4%, Committee Chairman Rustam Badasyan stated as he presented the 2023 report to Armenia's Premier Nikol Pashinyan. 

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Armenia failed to increase winemaking export attractiveness - study
 Friday, January 19 2024 19:52

ArmInfo. We have not much to boast of, our winemaking industry has not become more export-oriented. Tigran Jrbashyan, Partner, Director of Management Advisory Services at Ameria  said, ppresenting the results of the  "Ameria" company's "Alternative Wine Export Markets" study.

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Armenia ranks 69th in world ranking of best cuisines of TasteAtlas
 Thursday, January 18 2024 20:34

ArmInfo. According to TasteAtlas, a guide to national dishes of the world, which contains authentic recipes, reviews from critics and research articles about popular ingredients and food, Armenia took 69th place among 100 countries of the world. Armenian pomegranate, apricot, cheeses of "Chechil", "Lori", matsun, etc. were identified as the highest rated products.

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Armenia among leaders in number of companies registered in country by  Russians
 Thursday, January 18 2024 16:56

ArmInfo. In 2023, Russians registered 3,400 companies in Armenia. According to the results of  research conducted by the Finion company experts calculated for Forbes.  

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Startups in Armenia to get opportunity to raise money through SAFE  contracts
 Thursday, January 18 2024 16:53

ArmInfo.Armenia is thinking about introducing a new tool for foreign investment in startups. The draft corresponding amendments to the law "On Joint Stock Companies" were approved at a government meeting on January 18.  As stated in the explanation to the document, the goal is to create legal conditions for attracting investments in RA companies through a SAFE contract.

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Yerevan Municipality to start the construction works of Ajapnyak  metro station in 2024
 Thursday, January 18 2024 12:42

ArmInfo.A tender for the construction of the new Ajapnyak metro station will be announced this  year. Yerevan Mayor Tigran Avinyan announced  at the meeting of the cabinet of ministers on January 18.

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Armenia`s Minister of Economy to participate in Global Forum for Food  and Agriculture 2024
 Thursday, January 18 2024 12:36

ArmInfo. Armenia's Minister of Ecponomy Vahan Kerobyan has left for Germany to participate in the  Global Forum for Food and Agriculture 2024 (GFFA).

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Armenian PM: Average real salary in Armenia, excluding inflation,  increased by 33%
 Wednesday, January 17 2024 19:39

ArmInfo. Since January 1 of this year, subsidies to local self- government bodies of Armenia have  increased significantly. Prime Minister of the Republic of Armenia Nikol Pashinyan stated on January 17 during government hour in the National Assembly of the Republic of Armenia, answering a question  from MP David Arushanyan.

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Diversification of sales markets for Armenian products needs to be  intensify - Zaruhi Muradyan
 Wednesday, January 17 2024 13:56

ArmInfo. Zaruhi Muradyan, President of the Vine and Wine Foundation of Armenia highlights more  active diversification of sales markets for Armenian products.  

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Winemaking in Armenia needs licensing - President of Vine and Wine  Foundation
 Wednesday, January 17 2024 12:55

ArmInfo.The interest of foreign investors in the field of winemaking and viticulture in Armenia is growing from year to year, Zaruhi Muradyan, President of the Vine and Wine Foundation of Armenia, told ArmInfo. 

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Armenia`s government recognizes priority public interest in  territories in Shirak under North-South programme 
 Thursday, January 11 2024 13:48

ArmInfo. On January 11, the Government of Armenia recognized the priority public interest in relation to a number of territories in the Shirak region for the reconstruction of the Lanjik-Gyumri road section and ensuring access to areas along the reconstructed section of the road as part of the North-South - Tranche 3 road corridor investment program.

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Improving Armenia`s economic growth forecast for 2023, WB expects it  to worsen from 2024
 Wednesday, January 10 2024 21:20

ArmInfo.The World Bank has improved its 2023 GDP growth forecast for Armenia from the previous 4.4% to an updated 7.1% (against the actual 12.6% growth in 2022), now expecting a slowdown to 4.7% in 2024 and to 4.5% in 2025 (versus previously forecasted y-o-y acceleration to 4.8% and 5%). This is noted in the January Global Economic Prospects report published by the World Bank.

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Elaboration of strategy of Armenia`s demographic development nearing  completion
 Wednesday, January 10 2024 15:10

ArmInfo.The elaboration of the strategy of Armenia's demographic development is nearing completion, Armenia's Minister of Labor and Social Affairs Narek Mkrtchyan told a press conference. 

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Attempted illegal export of about 66 tons of scrap metal stopped by  Armenian customs officers
 Tuesday, January 9 2024 18:03

ArmInfo. There was an attempt to illegally export about 66 tons of scrap metal from Armenia.

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"Ural Airlines" launches direct regular flights to Yerevan from  Yekaterinburg and Moscow
 Tuesday, January 9 2024 16:20

ArmInfo. The "Ural Airlines" launches direct regular flights to Yerevan from Yekaterinburg and  Moscow from January 13, 2024 (airport Domodedovo). This is stated in the carrier's message.

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2.3mln tourists visited Armenia in 2023 
 Tuesday, January 9 2024 14:50

ArmInfo. A total of 2.3mln tourists visited Armenia last year, a 39% increase as compared with 2022. 

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Rafael Gevorgyan: Re-export did not have significant impact on  economic growth rates
 Monday, January 8 2024 20:34

ArmInfo. Re-export did not have a significant impact on the growth rate of the Armenian economy.  Deputy Minister of Economy of Armenia Rafael Gevorgyan stated during a press conference on January 8, referring to the results of the study of the growth structure of the RA economy.

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Minister of Economy: Ferry service has not aroused interest among  exporters and importers
 Monday, January 8 2024 20:32

ArmInfo. The ferry service has been operating for several months, but, according to our  assessment, it has not generated sufficient interest among exporters and importers. Armenian Minister of Economy Vahan Kerobyan announced during a press conference.

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Vahan Kerobyan: Amulsar to start operating this year
 Monday, January 8 2024 20:30

ArmInfo. The Amulsar mine will be operational this year.  Armenian Minister of Economy Vahan  Kerobyan stated  during a press conference on Monday.

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News
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy MinisterDouble increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
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Liability for misrepresented information is proposed in ArmeniaLiability for misrepresented information is proposed in Armenia
Government proposes to make changes to car trade system within  Government proposes to make changes to car trade system within  "Trade-in" program
Armswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transitionArmswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transition
Armenian lawyers unwilling to pay taxes on universal basisArmenian lawyers unwilling to pay taxes on universal basis
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Ambassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEUAmbassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEU
EBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEsEBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEs
Thanos Arvanitis: The time has come for Armenia to accelerate reformsThanos Arvanitis: The time has come for Armenia to accelerate reforms
Armenia to host 33rd EBRD Business Forum with flagship sponsorship of ArdshinbankArmenia to host 33rd EBRD Business Forum with flagship sponsorship of Ardshinbank
EAEU economic operators will become more recognizable when carrying  out foreign economic activitiesEAEU economic operators will become more recognizable when carrying  out foreign economic activities
Martin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decreaseMartin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decrease
About 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economyAbout 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economy
92% tax revenues recorded in Armenia in 1st quarter of 2024 92% tax revenues recorded in Armenia in 1st quarter of 2024 
IDBank issues the 2nd tranche of dollar bonds of 2024IDBank issues the 2nd tranche of dollar bonds of 2024
Armenia to be next country to host ACE programArmenia to be next country to host ACE program
Armenia agrees to EBRD expansion Armenia agrees to EBRD expansion 
Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure developmentAlkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
Government writes off 469 financial obligations of Artsakh citizens  on loans secured by goldGovernment writes off 469 financial obligations of Artsakh citizens  on loans secured by gold
Food products, services cause of 0.8% inflation in Jan-Apr 2024 Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenia`s Deputy Premier receives IMF delegationArmenia`s Deputy Premier receives IMF delegation
Armenian Economy Minister travels to USA on week-long working visitArmenian Economy Minister travels to USA on week-long working visit
Armenia is trapped in Armenia is trapped in "Dutch disease" - economist
“By Your Side”: IDBank`s new support program for displaced Artsakh citizens“By Your Side”: IDBank`s new support program for displaced Artsakh citizens
Team Telecom Armenia develops Be Free packageTeam Telecom Armenia develops Be Free package
Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of servicesArmenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services
Large crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 millionLarge crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 million
Eurowings launches Berlin-Yerevan-Berlin flightsEurowings launches Berlin-Yerevan-Berlin flights
Russia bans sugar exports; 28 thousand tons allowed to be exported to  ArmeniaRussia bans sugar exports; 28 thousand tons allowed to be exported to  Armenia
Read more


Exchange rates
17.05.2024
RUB4.26-0.01
USD387.60-0.49
EUR420.12-1.81
GBP490.31-1.36
CAD284.16-0.61
JPY24.87-0.22
CNY53.63-0.14
CHF426.22-3.84


Experts
Expert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisionsExpert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisions
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
Read more

Commented
Yerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientistYerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientist
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