Armenia`s government plans introducing SAFE format 

 Friday, April 26 2024 16:19:00
Armenia`s government plans introducing SAFE format 

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."

Tourism Committee, SDA to cooperate in tourism development in Lori,  Tavush, Vaiots Dzor, Syunik 
 Wednesday, February 21 2024 18:53

ArmInfo. On February 19, a memorandum of understanding was signed between the Tourism Committee  under the RA Ministry of Economy and Strategic Development Agency NGO within the framework of "Living Landscapes for Market Development in Armenia" project funded by the Swiss Agency for Development and  Cooperation and implemented by the Armenian Branch of the World Wildlife Fund (WWF-Armenia) in cooperation with Strategic Development Agency (SDA).

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Armenian authorities` GDP forecasts for 2024 seem overstated - expert 
 Wednesday, February 21 2024 18:47

ArmInfo. Haykaz Fanyan, Director of the Armenian Center for Socio-Economic Studies (ACSES),  said in response to ArmInfo at a press conference organized by the Economic Journalists Club. 

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Tatul Manaseryan: In case of utilization of competitive advantages,  Armenia`s business activity growth could be within 7-8% by end of  2024
 Wednesday, February 21 2024 15:15

ArmInfo. The main driver of economic growth in Armenia in 2024 may be the utilization of the  country's competitive advantages in the context of using the opportunities of the free economic zone between Iran and the EAEU. A similar opinion was expressed by Tatul Manaseryan, Doctor in Economics, Professor, Head of the Alternative Research Center, member of the Eurasian Expert Club during a press conference on February 20.

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Rustam Badasyan: until issue of taxation of labor migrants is finally  resolved, no coercive measures will be used
 Wednesday, February 21 2024 15:06

ArmInfo.The State Revenue Committee (SRC) of Armenia is discussing with the Ministry of Finance  the issue of applying benefits for certain categories of citizens traveling to work in the Russian Federation. Head of the State Revenue Committee of Armenia Rustam Badasyan stated  on February 21  in a conversation with journalists.

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Armenia`s GDP growth slowed to 8.7% in 2023
 Wednesday, February 21 2024 10:20

ArmInfo. Armenia's GDP growth slowed down to 8.7% in 2023 (from 12.6% in 2022), amounting to 9.503  trillion drams ($24.2 billion). The GDP deflator index also decreased - to 102.8% from 108% in 2022, according to the data of the RA Statistical Committee published on February 20.

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Net inflow of transfers to Armenia decreased by 36% in 2023
 Monday, February 19 2024 18:58

ArmInfo. The net inflow of private transfers to Armenia decreased by 36% in 2023, in absolute  terms it decreased from $2.6 billion to $1.7 billion. As evidenced by the dynamics of 2022, this figure showed an unprecedented threefold increase.

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Economist: Outflow of remittances from Armenia to continue to grow in  2024
 Monday, February 19 2024 18:46

ArmInfo.There is a high probability that the inflow of remittances in 2024 will decrease by  about 15%, while the outflow will continue to grow. Economist Aghasi Tavadyan expressed a similar opinion on his Facebook page.

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Transavia to start operating flights on route Lyon - Yerevan - Lyon 
 Monday, February 19 2024 16:12

ArmInfo. From 13 April 2024 Transavia will start operating flights on the route Lyon - Yerevan- Lyon. 

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Bank of Georgia announces proposed acquisition of Ameriabank for  $303.6 million
 Monday, February 19 2024 14:21

ArmInfo.  Bank of Georgia Group PLC ("BOGG" or the "Group") announces the proposed acquisition  of 100 per cent. of a leading bank in Armenia, Ameriabank CJSC ("Ameriabank"), for approximately $303.6 million. This acquisition will significantly enhance the Group's presence and growth opportunities within a fast-growing and attractive market, according to BOGG's official statement.

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Former MP on economic situation in Armenia: "What is brought by water  will go with water"
 Friday, February 16 2024 17:44

ArmInfo. Those economic and financial processes that began to develop in 2018 were associated  with international developments, and primarily with the Russian- Ukrainian conflict. Former member of the National Assembly of Armenia, who for many years headed the Parliamentary Standing Committee on Economic Affairs  Gagik Minasyan stated on February 16 during a conversation with journalists.

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Armenia, Iran discuss possibilities of strengthening logistics ties  between  two countries
 Friday, February 16 2024 17:44

ArmInfo. During his working visit to Iran, Deputy Minister of Economy of Armenia Narek Teryan  held a number of meetings with officials of the Islamic Republic of Iran (IRI).

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SRC: individuals-residents of Armenia must pay tax on income received  abroad
 Friday, February 16 2024 16:59

ArmInfo. If a citizen works abroad, but is at the same time a resident of Armenia, then he is  obliged to independently calculate and pay income tax on the income he receives from this work, as well as submit an online income declaration to the tax authority of the Republic of Armenia no later  than May 1 of the following year, the State Revenue Committee of Armenia reports.

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Expert: SRC should have taxed labor migrants only after large-scale  information campaign for them, which was not done
 Friday, February 16 2024 16:48

ArmInfo. The decision of the State Revenue Committee of Armenia on taxation of labor migrants  and penalties in case of non-payment is extremely unfair. Tatevik Bezhanyan, Advocacy Officer at Armenian Caritas Migration and Development Project , stated during a press conference on February 16.  

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Global economic growth to slow -EDB
 Friday, February 16 2024 13:14

ArmInfo. Global economic growth will slow, according to the Macroeconomic Outlook 2024-2026 by  the Eurasian Development Bank (EDB). 

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EDB expects fiscal policy to stimulate Armenian economy in 2024 
 Friday, February 16 2024 13:10

ArmInfo.The baseline scenario projects Armenian GDP growth at 5.7% in 2024 and 5.3% in 2025. Inflation could accelerate to  3.6% in  2024 amid continued elevated domestic demand, a moderate weakening of the national currency, and the ongoing cycle of refinancing rate reductions, according to the Macroerconomic Outlook by the Eurasian Development Bank (EDB). 

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Armenia amends Gyumri Urban Roads Project agreement with EBRD
 Thursday, February 15 2024 13:04

ArmInfo. On February 15, the Government of Armenia approved the proposal to sign Agreement No. 2  on amending the loan agreement Gyumri Urban Roads Project signed between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD) on May 11, 2016. 

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Food Safety Inspection Authority of Armenia responds to  Rospotrebnadzor`s decision to suspended sale of Jermuk mineral water
 Wednesday, February 14 2024 15:01

ArmInfo.Jermuk mineral water has been exported to Russia since 2001, gradually increasing the volume from 350,000 liters to 15,273,000 liters per year, and each imported batch complies with the technical regulations of the Eurasian Economic Union, reads an official statement by the Food Safety Inspection Authority of Armenia. 

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Ministry of Economy: Armenia almost doubled industrial and natural  diamonds` export in 2023
 Monday, February 12 2024 19:04

ArmInfo. At the end of 2023, 4.4 million technical (synthetic) and natural, rough and processed diamonds were  exported from Armenia, almost twice as much as a year ago. Arevik Margaryan, Head of the Department of Strategic Sector of the Ministry of Economy, informs.

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Armenian official, ADB reps discuss construction, management projects  
 Monday, February 12 2024 12:34

ArmInfo. Armenia's Deputy Minister of Territorial Administration Vache Terteryan held a meeting  with a delegation of the Asian Development Bank (ADB) led by Mr Don Lambert, Country Director for ADB's Armenia Resident Mission.

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Emphasis in export strategy must be placed on markets not yet open to  us - Armenia`s economy minister 
 Monday, February 12 2024 12:33

ArmInfo. "The emphasis in the export strategy must be placed on markets that are not yet open  to us," Armenian Minister of Economy Vahan Kerobyan stated during a working discussion of the results of the analytical report on the export strategy for 2025-2030, developed with the support of the US Agency for International Development (USAID).

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