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.

EFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and Tajikistan
 Tuesday, April 16 2024 11:51

ArmInfo.The Eurasian Fund for Stabilization and Development (EFSD) has prepared a new working paper  "Assessing the potential impact of natural disasters on debt sustainability of Armenia, Kyrgyzstan and Tajikistan." Due to their geographical location, relatively small territory and highly concentrated economy, natural disaster risks can have a significant impact on the macroeconomic indicators of these countries.

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Astana proposes joint investment programmes in Yerevan 
 Monday, April 15 2024 13:12

ArmInfo. "Kazakhstan is interested in further developing a comprehensive partnership with Armenia, and  therefore today's visit is of particular importance to me," President Kassym-Jomart Tokayev stated on April 15 in Yerevan following negotiations with Armenian Prime Minister Nikol Pashinyan.

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Armenia, Kazakhstan have unrealized economic potential - premier 
 Monday, April 15 2024 12:25

ArmInfo.Armenian Prime Minister Nikol Pashinyan is convinced that despite the growth in bilateral  trade turnover, there is still unrealized potential between Armenia and Kazakhstan in terms of developing trade and economic cooperation, stimulating investment and developing infrastructure ties and trade. 

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Armenia, EU discuss expansion of economic cooperation 
 Monday, April 15 2024 11:50

ArmInfo. Armenia and the EU discussed the possibilities of expanding trade and economic cooperation. This was reported by the press service of the Ministry of Economy, referring to the results of the meeting between Minister Gevorg Papoyan and the Head of the EU Delegation to Armenia Vassilis  Maragos.

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Transavia airline starts operating route Lyon-Yerevan-Lyon
 Saturday, April 13 2024 22:02

ArmInfo. From 13 April 2024 Transavia will start operating flights on the route Lyon - Yerevan-  Lyon. Flights will be operated once a week: every Saturday (starting July 3 every Wednesday as well).

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EAEU and its economic principles should not be mixed with political  ambitions - Nikol Pashinyan
 Saturday, April 13 2024 21:58

ArmInfo.Below is an interview with Armenia's Premier Nikol Pashinyan with "Egemen Qazaqstan" and  "Kazakhstanskaya Pravda" newspapers. 

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Armenia, Australia to strengthen cooperation in high-tech field 
 Saturday, April 13 2024 12:23

ArmInfo. Armenia's Deputy Minister of High-Tech Industry Gevorg Mantashyan hoisted Australian  Ambassador to Armenia John Geering. 

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Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis 
 Friday, April 12 2024 16:12

ArmInfo. On April 12, at a government meeting, the Government of Armenia approved the proposal  to sign a protocol "On introducing amendments and additions to the "Agreement between the Government of the Republic of Armenia and the Government of the Republic of Kazakhstan on international road transport dated November 6, 2006."

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Economy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s products
 Friday, April 12 2024 16:06

ArmInfo.The Ministry of Economy, together with the Armenal foil rolling plant, is developing new schemes to diversify the sales markets for the enterprise's products and sell them in alternative markets.

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WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% 
 Friday, April 12 2024 14:26

ArmInfo.The World Bank has improved its forecast for Armenia's GDP growth for 2024 from the  previous 4.7% to an updated 5.5% (against the actual slowdown in growth in 2023 to 8.7% from 12.6% in 2022). For 2025, the economic growth forecast has also been improved, but less noticeably - from the previous 4.5% to an updated 4.9%. Over the medium term, GDP growth will gradually approach the potential 4.5%, and average  inflation will rise to the targeted 4%.

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Deadline for filing personal income declarations in Armenia may be  extended
 Thursday, April 11 2024 17:49

ArmInfo. The deadline for filing  an online personal income calculations (declarations) in Armenia may   be extended. The ArmInfo correspondent was informed by acting Head of the Information Technology Department of the State Revenue Committee of the Republic of Armenia Lusine Ayvazyan.

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ADB forecasts 5.7% economic growth for Armenia in 2024
 Thursday, April 11 2024 17:27

ArmInfo. The Asian Development Bank forecasts 5.7% economic growth for Armenia in 2024, with the  rate accelerating to 6% in 2025 Luke Fochtman, Deputy Country Director of ADB (Asian Development Bank )Armenia Resident Mission stated this during a press conference on April 11, presenting the ADO (Asian Development Outlook).

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USAID to invest additional $33mln in Armenia`s economy 
 Thursday, April 11 2024 12:56

ArmInfo. The United States Agency for International Development (USAID) has doubled its investments in Armenia's economy since 2022. This includes on- the-job training for women and young people to make them more competitive in the new economy, USAID Administrator Samantha Power stated in a video message on X.

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Deputy PM: we are ready for any assistance to contribute cargo  aviation establishment
 Wednesday, April 10 2024 18:01

ArmInfo. The formation of cargo aviation in Armenia is of strategic importance. Deputy Prime  Minister Mher Grigoryan stated on April 10 during government hour in the National Assembly of the Republic of Armenia.

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Armenia, Iran discuss organization of joint production in various  branches of economy 
 Wednesday, April 10 2024 15:14

ArmInfo. Armenia's Minister of Economy of Armenia Gevorg Papoyan hosted Ambassador of Iran to  Armenia Mehdi Sobhani.

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ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  
 Wednesday, April 10 2024 12:42

ArmInfo.The Asian Development Bank (ADB) is ready to finance the northern section of the  Sisian-Kajaran road of the North-South transport corridor. This was stated during a meeting between the ADB delegation, headed by the head of the Armenian mission, Don Lambert, and the Deputy Minister of  Territorial Administration and Infrastructures of Armenia, Kristine Galechyan.

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Armenia`s Ministry of High-Tech Industry developing sectoral strategy 
 Wednesday, April 10 2024 12:19

ArmInfo.The Ministry of High-Tech Industry of Armenia is developing a strategy that will summarize the vision for the long-term development of the industry, as well as relevant legislative acts aimed at promoting the information technology sector, creating the foundations for a favorable ecosystem.

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Armenia`s footwear exports to Russia 11 times up 
 Wednesday, April 10 2024 11:59

ArmInfo.Armenia is among the countries that have significantly increased the volume of footwear  supplies to the Russian market since 2021, RIA Novosti reports referring to data provided by the UN platform Comtrade and open statistics.

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Team`s Next Generation Networ is already available in Ashtarak
 Tuesday, April 9 2024 15:23

ArmInfo. Team Telecom Armenia continues to provide access to a new generation network to all  residents of Armenia: the construction of an advanced NGN network with a capacity of 25 Gb/s has been completed in the city of Ashtarak, Aragatsotn region. According to the company's press  service, the NGN network, which provides astronomical speed of the Internet, is now available to more than 8,000 households in the city of Ashtarak.

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Kazakhstan`s potential exports to Armenia total $350mln - minister 
 Tuesday, April 9 2024 14:11

ArmInfo. According to preliminary calculations, the list of potential exports from Kazakhstan to Armenia amounts to more than 125 processed goods worth $350 million, Kazakh Minister of Trade and Integration Arman  Shakkaliev stated at the opening of the Armenian-Kazakh business forum, which was held in Yerevan on April 9.

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News
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Up to 10% cashback from GetTransfer with IDBank cardsUp to 10% cashback from GetTransfer with IDBank cards
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Exchange rates
06.05.2024
RUB4.260.03
USD387.920.60
EUR417.831.73
GBP487.811.41
CAD283.670.15
JPY25.22-0.08
CNY53.820.33
CHF428.311.46


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
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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

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