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.

Yeghvard reservoir construction project remains high on government  agenda 
 Tuesday, November 14 2023 12:53

ArmInfo.The construction project of the Yeghvard reservoir continues to be relevant for the  Armenian government, Deputy Minister of Territorial Administration and Infrastructure of the Republic of Armenia Vache Terteryan stated in Armenia's Parliament on November 14.

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Armenian companies to participate in Eurasia Expo in Iran under  single pavilion
 Monday, November 13 2023 18:58

ArmInfo. The international Eurasia Expo will be held in Tehran from December 4 to 7, which is  held with the aim of sustainable development of trade and business  activities.

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Armenia, Japan to deepen economic cooperation
 Monday, November 13 2023 17:09

ArmInfo. Armenia and Japan intend to deepen economic cooperation. This is evidenced by the  results of the meeting between Armenian Minister of Economy Vahan Kerobyan and Mr. Norihiko Ishiguro, Chairman and CEO of Japan External Trade Organization (JETRO).

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Japanese ROTOBO considers opportunity for collaboration with Armenia  in machinery and instrument making
 Monday, November 13 2023 16:53

ArmInfo. Armenian Minister of Economy Vahan Kerobyan, as part of his working visit to Japan,  held a meeting with executive director of the Japan Association for  Trade with Russia & NIS (ROTOBO) Mr. Kyoichi Suzuki.

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To improve business environment Economy Minister proposes to make  English official, but not state, language
 Friday, November 10 2023 20:55

ArmInfo.Economy Minister Vahan Kerobyan expects per capita GDP to increase to $8,200 by the end of this year. Speaking on the CIVILNET channel in English, the head of the department noted that despite expectations of the poverty level to reach 39.6%, this figure was reduced to 24.8%.

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Fukushima Masanori: Japanese market is interested in Armenian  agricultural products
 Friday, November 10 2023 18:57

ArmInfo. The Japanese market is interested in Armenian agricultural products, and we are  also interested in Armenian culture and history. Ambassador of Japan  to Armenia Fukushima Masanori stated  during a meeting with Minister  of Economy of Armenia Vahan Kerobyan.  

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RA government proposes to extend tax preferences for import of  electric vehicles for another year
 Friday, November 10 2023 18:53

ArmInfo.At the sitting of the NA Standing Committee on Economic Affairs on November 10,Vahan  Kerobyan, who presented amendments to the Tax Code, expressed hope for organizing an assembly plant for the production of electric vehicles in Armenia on November 10 at a meeting of the parliamentary commission on economic issues.

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Armenia`s ministry of economy presents assistance programmes to  businesses 
 Friday, November 10 2023 13:04

ArmInfo.Armenia's Ministry of Economy has organized a meeting with members of the Mantashyants  business club. 

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Economist: at the moment, economies of Russia and Armenia are  interdependent
 Thursday, November 9 2023 18:04

ArmInfo. At the moment, the Russian economy, especially at its current stage of development, depends to a fairly significant extent on Armenia. Aghasi Tavadyan, an economist and head of "Economic Uncertainty Modeling" laboratory, ASUE at the Armenian State Economic University, told an ArmInfo correspondent.

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ADB to provide EUR 60mln loan to Armenia for Yerevan development 
 Thursday, November 9 2023 14:50

ArmInfo.The Asian Development Bank (ADB) will provide Armenia with a loan of 60 million euros for  the development of the capital's infrastructure.

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Public discussions on EIA of section of North-South transport  corridor held in Armenia 
 Thursday, November 9 2023 14:40

ArmInfo. In the Armenian village of Darpas of the Sisian community, public discussions were held on the environmental impact assessment (EIA) of the project for the construction of a section of the Sisian-Kajaran highway of the North-South transport corridor, the Road Department Foundation reports. 

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Martin Galstyan: 2024 is extremely important in context of timely,  high-quality implementation of government capital expenditure  programs
 Wednesday, November 8 2023 14:10

ArmInfo.According to the Central Bank's estimates, we have a positive potential GDP gap.  Chairman of the Central Bank of Armenia Martin Galstyan stated  at the extraordinary sitting of the NA Standing Committee on Financial-Credit and Budgetary Affairs on November 8.

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Directions and possible projects for expanding cooperation with Abu  Dhabi outlined in Yerevan
 Wednesday, November 8 2023 13:47

ArmInfo. RA Prime Minister Nikol Pashinyan received Ahmed bin Ali Al Sayegh, Minister of State at the  United Arab Emirates Foreign Ministry responsible for trade and economic affairs.

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Despite population growth, per capita debt burden reaches $3.8  thousand in Armenia
 Wednesday, November 8 2023 13:44

ArmInfo. In Armenia, the specific debt burden per capita by October 1, 2023 increased to $3.8 thousand from $3.4 thousand a year earlier. Moreover, the per capita debt burden increased both in terms of external debt from $2.1 thousand to $2.2 thousand, and in terms of internal debt from $1.3 thousand to $1.6 thousand, amid an increase in the population of Armenia over the year by 23.2 thousand people - up to 2.994 million  people by October 1, 2023.

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Problems of forcibly displaced Nagorno-Karabakh Armenians to be  reflected in Armenia`s state budget - minister 
 Wednesday, November 8 2023 10:34

ArmInfo.The solution to the problems of forcibly displaced persons from Nagorno-Karabakh is not  reflected in the draft state budget of Armenia for 2024, Armenia's Minister of Finance Vahe Hovhannisyan stated at a meeting of the Committee on Finance and Budget, RA Parliament. 

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South Caucasus Railway reports growing popularity of railroad  passenger traffic
 Wednesday, November 8 2023 10:08

ArmInfo. In January-October 2023, the South Caucasus Railway (SCR) company transported 421.5  thousand passengers, which is 7.1% more than in 2022.

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Specialeurasia: Emirati investments serve to spotlight the potential  and investment prospects within Armenia
 Tuesday, November 7 2023 18:45

ArmInfo. Emirati investments and collaboration with ANIF serve to spotlight the potential and investment prospects within Armenia. This is stated in the extensive analysis of Armenia's economic opportunities of the Specialeurasia platform (Italy), a significant part of which is dedicated to ANIF's projects and especially to the strategic cooperation with the companies of the UAE.

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Armenia participates in China Int`l Import Expo 2023
 Tuesday, November 7 2023 17:24

ArmInfo. Armenia is taking part in the 6th China International Import Expo (CIIE), which takes  place from November 5 to 10 in Shanghai.

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Armenian, Kazakh stock exchanges trade growth leaders 
 Tuesday, November 7 2023 14:46

ArmInfo. In the third quarter of 2023, the growth leaders in the Eurasian Economic Union in  terms of trading volumes were the stock exchanges of Armenia and Kazakhstan, including the Astana International Exchange (AIX), which recorded significant growth for the third quarter in a row. This is  evidenced by data from the Department of Statistics of the EEC (Eurasian Economic Commission).

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Team Energy network of nearby electric vehicle charging stations is  already available throughout Armenia
 Friday, November 3 2023 19:19

ArmInfo.In order to stimulate the use of electric vehicles in Armenia, Team Telecom  Armenia announced the launch of the Team Energy project, within which  an application was developed that allows you to find the nearest  electric vehicle charging stations. In this case, payment can be made  with a bank card, but if the owner of the electric car is a  subscriber of Team Telecom Armenia, the funds can be debited from the  balance of the telephone card.

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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
Rocket Line - now for 60 months: Idram and IDBankRocket Line - now for 60 months: Idram and IDBank
Rising prices for services, going into shadows and closing businesses  - incomplete list of Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
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